China’s National Health Commission publishes guidelines for treating Covid at home
China’s health authorities released guidelines for treating Covid patients at home on Thursday, a day after they formalized a policy allowing most infected patients to be quarantined at home as part of the country’s easing measures.
A notice on the National Health Commission’s website states that patients should be isolated in a separate room if possible and self-administer antigen tests.
While it says that patients with severe symptoms should go to the hospital, the announcement includes instructions for patients with mild symptoms to monitor their health at home and take medication as needed.
The commission included a list of drugs used to treat Covid symptoms.
Health authorities are scheduled to hold a press briefing at 15:00 local time.
– Abigail Ng, Evelyn Cheng
Hong Kong considers scrapping outdoor mask rules: Report
Fitch expects house prices in Australia and China to decline in 2023
Fitch Ratings expects Australian house prices to fall significantly by 7% to 10% next year.
The agency also predicts that house prices in China will fall by 1% to 3% next year.
“We expect rates to decline further before bottoming out in 2023, but mortgage performance will only deteriorate modestly amid economic uncertainty,” Fitch Ratings’ Tracy Wan said in a report.
However, house prices in Japan may moderate their growth trend to 2% to 4% in 2023, the report said. Prices in Australia are predicted to increase in 2024.
– Jihye Lee
Japan’s economy shrank less than expected in the third quarter
Japan’s economy shrank 0.8% year-on-year in the third quarter, and a revised gross domestic product figure beat expectations for a 1.1% contraction in a Reuters poll.
The government’s first preliminary estimate released in November was a 1.2% decline.
The country also reported an unadjusted current account deficit of 64.1 billion yen ($469.3 million), according to government data. The reading in a separate Reuters poll significantly missed estimates for a surplus of 623.4 billion yen.
– Jihye Lee
Australia’s trade surplus in October was larger than expected
Australia’s trade surplus for October was slightly larger than expected at A$12.2 billion ($8.19 billion), according to official data.
Economists polled by Reuters had forecast a print of A$12.1 billion and expected a further decline than reported – the economy saw a trade surplus of A$12.4 billion.
Exports decreased by 0.9% and imports by 0.7%.
– Abigail Ng
Stocks are mostly closing below
Stocks were mostly lower on Wednesday, with the S&P 500 down 0.19% to 3,933.92.
The Dow Jones Industrial Average rose 1.58 points to end the session at 33,597.92. The Nasdaq Composite fell 0.51% to 10,958.55.
– Samantha Subin
CNBC Pro: Bank of America says these two global chip stocks could boost EV sales by 75%
A shortage of semiconductors amid a boom in electric car sales could help boost profits for several chipmakers, according to Bank of America.
The Wall Street bank predicted that the two chip stocks would see their share prices rise by more than 75% on the back of this trend.
CNBC Pro subscribers can read more here.
– Ganesh Rao
Morgan Stanley’s Slimmon says pending economic data could start a rally next year
Don’t be surprised if next week’s economic data starts a rally into the end of the year and potentially into 2023, according to Andrew Slimmon, senior portfolio manager at Morgan Stanley Investment Management.
The main cycle of data releases begins with the producer price index on Friday, followed by November’s consumer price index and the Federal Reserve’s next likely rate hike next week.
“The last time they were released, they all led to rallies in the stock market because we had better inflation tracks,” he said.
Like many investors, Slimmon expects a downturn ahead given the inverted yield curve, but doesn’t expect the “big earnings collapse” or slowdown that many people are predicting in the first quarter.
This is partly because many consumers have increased their savings in recent years given the proximity of the most recent recession.
“The message this year is that the economy has proven to be more resilient than many people expected, and I don’t think next quarter will be the end of that,” he said.
– Samantha Subin
CNBC Pro: Is Apple a stock to buy or avoid? Two investors came face to face
It’s been a tumultuous year for tech companies as investors flee growth stocks in the face of rising interest rates and other headwinds.
apple although there were some winds, it held up better among the technological carnage.
On CNBC’s “Street Signs Asia” on Wednesday, two investors filed a lawsuit against the stock purchase.
CNBC Pro subscribers can read more here.
– Weizhen Tan