Asia-Pacific markets trade less; China keeps the LPR steady

Shares of some Japanese trading companies rose early in the Asian session, despite the decline in the region’s markets, after billionaire Warren Buffett’s Berkshire Hathaway boosted his stake in the companies, according to individual regulatory filings.

Berkshire increased its share by more than 1 percentage point MitsubishiAnd the Mitsui & CoAnd the ItochuAnd the Marubeni And the Sumitomo Filings showed that it holds more than 6% stake in each company.

Japan-listed Mitsubishi shares rose 1.89% in the morning session, Marubeni rose 2.12%, and Sumitomo rose more than 1%. Itochu rose 0.84%, and Mitsui rose 0.16%.

This comes days after Berkshire Hathaway a statement It increased its share of Taiwan Semiconductor Manufacturing Company’s American Depositary Receipts, sending shares of the Taiwan-listed company soaring more than 10% in the Asia session.

– Jihe Lee

China left its benchmark lending rate unchanged for the third consecutive month, according to an announcement from the People’s Bank of China.

The one-year principal loan rate is fixed at 3.65%, the notice said, and the five-year rate is also suspended at 4.3%.

– Abigail Ng

South Korea’s exports for the first 20 days of November fell 16.7% year-on-year, as demand from China slumped, according to data from the customs agency.

The decline in exports is a sharp decline from a 5.5% decline in October compared to the same period last year.

Imports also fell 5.5% in the first 20 days of November, slightly improving the trade deficit – $4.4 billion for the period, compared to the $4.9 billion deficit reported in October.

Statistics from the agency showed that the country recorded a total of $40 billion in trade deficit year-to-date.

– Jihe Lee

We’re in the “final stages” of a bear market, says Mike Wilson, senior US equity analyst at Morgan Stanley, but it’s going to be tough for a while longer.

He predicts when — and at what level — the S&P 500 will hit a “new low.”

CNBC Pro subscribers can read more here.

– Wizen tan

China’s central bank is expected to keep key interest rates for the one-year and five-year loan on hold, according to analysts polled by Reuters.

The one-year rate is currently 3.65%, and the five-year LPR is 4.3%.

The People’s Bank of China lowered the two rates last August.

China Maritime yuan It was weaker at 7.1376 against the US dollar before the decision early Monday.

– Abigail Ng

This year, a 30% decline in the value of shares of major Chinese technology companies, such as Ali Babamade it “incredibly cheap,” according to investment bank China Renaissance.

The head of equities, Andrew Maynard, not only believes that the stock market looks like it has bottomed out, but also that investors could lose the rally if they remain less heavy on China.

“Without a shadow of a doubt, underweight China is going to cost you going,” Maynard said.

CNBC Pro subscribers can read more here.

– Ganesh Rao

Investors may be a bit more cautious next week, as stocks seek direction in quiet trade and bond market warnings of a recession get louder.

The Thanksgiving holiday on Thursday should mean that the markets will likely be quiet on Wednesday and Friday. Merchants will be watching reports on Black Friday holiday shopping for consumer feedback.

“It really is a week where data-driven is the keynote,” said Julien Emmanuel, Senior Managing Director at Evercore ISI. bias [for stocks] It will be higher unless data continues to deteriorate and the Fed remains hawkish…which has clearly strengthened in the last 48 hours. “

Check out our full deep dive on what to expect next week over here.

– Patti Dome, Tanaya Machell