rates of interest, Hong Kong GDP, Japan, Australia

Latest Zealand’s central bank has raised rates of interest by 50 basis points from 4.25% to 4.75, in keeping with economists expectations.

In a release, the Reserve Bank of Latest Zealand indicated that rates of interest could still rise, to make sure inflation returns to its goal range over the medium term.

“While there are early signs of price pressure easing, core consumer price inflation stays too high, employment remains to be beyond its maximum sustainable level, and near-term inflation expectations remain elevated,” the bank said.

Following the announcement, the Latest Zealand dollar strengthened against the U.S. dollar to trade at 0.622.

— Lim Hui Jie

Australia’s wage price index rose by 3.3%, missing estimates in a Reuters poll, which expected to see growth of three.5% on an annualized basis.

In comparison with the previous quarter, the wage price index rose by 0.8%, also below expectations for a 1% growth.

Private sector’s wage prices gained by 0.8% and the general public sector rose by 0.7%, the discharge said.

– Jihye Lee

Singapore Airlines reported a record operating profit of $755 million for the period between October – December 2022, 11.4% higher than the previous quarter.

In a business update, SIA reported revenue for the quarter got here in at $4.85 billion, 8% higher than the quarter before.

Net profit stood at $628 million, compared with $556.5 million the previous quarter.

SIA said group passenger capability reached 80% of pre-Covid levels, and expects strong momentum in forward passenger sales for the primary quarter of 2023.

But it surely also warned that weaker global demand and increased capability will weigh on its air freight segment.

— Lim Hui Jie

Alibaba is a Wall Street favorite on the subject of playing the Chinese tech sector and the country’s Covid-19 reopening.

It’s rated “buy” by just about all analysts — 93% — covering it, based on FactSet. They provide it average potential upside of 43%.

The tech giant is on account of report its earnings for the December quarter on Thursday. Here’s what Wall Street is expecting.

— Zavier Ong

Energy storage and the long run of transport are two of the “most engaging” climate themes to speculate in immediately, based on HSBC analysts.

The bank named buy-rated stocks under each of those themes which have amongst the very best upside to its price targets.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Japan’s producer prices index rose 1.6% on an annualized basis, barely higher than December’s figure of 1.5%.

This puts the index at 107.4, barely lower than 107.7 in December, and is the primary monthly drop since August 2022.

The PPI measures the typical movements of costs received by domestic producers for goods and services sold.

The yen weakened marginally after the announcement to trade against the US dollar at 134.92.

— Lim Hui Jie

U.S.-listed Chinese technology stocks plummeted on Tuesday.

The pullback in shares got here amid news that e-commerce company JD.com is reportedly launching a subsidy program to counter its rival Pinduoduo. Shares of each stocks shed greater than 11% and 9%, respectively, during afternoon trading.

Others China tech stocks stumbled, including Alibaba, last down 5%. The KraneShares CSI China Web ETF was last down greater than 3%.

— Samantha Subin

U.S. Treasury yields moved past Friday’s highs, hitting their highest levels since November.

The 2-year rate, which is essentially the most sensitive to Fed policy changes, hit a high of 4.725% — a level not seen since Nov. 8, when it reached 4.741%.

The benchmark 10-year rate, meanwhile, rose as high as 3.951%. That is its highest level going back to Nov. 10, when it climbed to 4.117%.

At 10:22 a.m. ET, the yield on the 2-year Treasury was up 8 basis points at 4.705%.The 5-year Treasury and 10-year Treasury also reached 3-month highs, with yields at 4.142% and three.927%, respectively.

— Hakyung Kim