China’s National Health Commission publishes guidelines for treating covid at home
Chinese health authorities announced Guidelines for the treatment of covid patients at home. on Thursday, a day after formalizing a policy that allows most Infected patients to quarantine at homeas part of the relaxation measures in the country.
The notice on the National Health Commission website said patients should isolate themselves in a separate room if possible and self-administer antigen tests.
While noting that patients with acute symptoms should go to a hospital, the ad included instructions for patients with milder symptoms to monitor their health at home and take medication as needed.
The commission included a list of drugs used to treat Covid symptoms.
The health authorities plan to hold a press conference at 3:00 p.m. local time.
—Abigail Ng, Evelyn Cheng
Hong Kong Considers Dropping Outdoor Mask Rules: Report
Fitch expects house prices in Australia and China to fall in 2023
Fitch Ratings expects Australian house prices to see a significant drop of between 7% and 10% next year, it said in its latest outlook. report.
The agency also predicts that Chinese home prices will fall by 1-3% next year.
“We expect prices to decline further in 2023 before bottoming out, but mortgage performance will only deteriorate modestly, in the face of economic headwinds,” Fitch Ratings’ Tracy Wan said in the report.
However, home prices in Japan could buck the upward trend by 2-4% in 2023, according to the report. Australian prices are expected to increase in 2024.
–Jihye Lee
Japan’s economy contracted less than expected in the third quarter
Japan’s economy experienced an annualized quarterly contraction of 0.8% in the third quarter, with the revised gross domestic product reading beating expectations in a Reuters poll for a contraction of 1.1%.
The government’s first preliminary estimate published in November was a decline of 1.2%.
The nation also reported a deficit of 64.1 billion yen ($469.3 million) in its unadjusted current account balance, government data He showed. The reading fell short of estimates of a surplus of 623.4 billion yen in a separate Reuters poll.
–Jihye Lee
Australia trade surplus higher than expected in October
Australia’s trade surplus for October was A$12.2 billion ($8.19 billion), slightly more than expected. official data shown.
Economists polled by Reuters predicted a print of A$12.1bn and expected a larger-than-reported drop, after the economy posted a trade surplus of A$12.4bn.
Exports fell 0.9% and imports fell 0.7%.
—Abigail Ng
Stocks close mostly lower
Stocks closed mostly lower on Wednesday, with the S&P 500 shedding 0.19% to close at 3,933.92.
The Dow Jones Industrial Average closed unchanged, or 1.58 points higher, to end the session at 33,597.92. The Nasdaq Composite fell 0.51% to close at 10,958.55.
—Samantha Subin
CNBC Pro: Bank of America says these two global chip stocks could jump 75% in EV car sales
Semiconductor shortages during a boom in electric vehicle sales could help boost profits for a handful of chipmakers, according to Bank of America.
The Wall Street bank predicted that two chip stocks could see their share prices rise by more than 75% due to that trend.
CNBC Pro subscribers can read more here.
—Ganesh Rao
Pending economic data could launch a rally next year, says Morgan Stanley’s Slimmon
Don’t be surprised if economic data due next week will trigger a rally towards the end of the year and possibly into 2023, according to Andrew Slimmon, a senior portfolio manager at Morgan Stanley Investment Management.
The key data release period begins Friday with the Producer Price Index, followed by the November Consumer Price Index and another likely Federal Reserve rate hike next week.
“Last time they were released, they all triggered rallies in the stock market because we had better inflation records,” he said.
Like many investors, Slimmon expects a recession in the future, given the inverted yield curve, but he doesn’t anticipate the “big earnings crash” or recession that many people predict in the first quarter.
This is due in part to the fact that many consumers have increased their savings in recent years as the most recent recession approaches.
“The message this year is that the economy has proven to be much more resilient than many people expect 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 face off
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 it has held up better amid the technological carnage, although there have been some headwinds.
Two investors clashed on CNBC’s “Asian street signs” on Wednesday to present arguments for and against the purchase of shares.
CNBC Pro subscribers can read more here.
—Weizhen Tan
