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HomeBusinessAsia-Pacific markets trade lower ahead of Fed Beige Book release

Asia-Pacific markets trade lower ahead of Fed Beige Book release

CNBC Pro: Tensions between Russia and Europe could cause ‘bullish shock’ in oil markets

Oil and gas supplies will be boosted by the heightened tensions over Russian gas supplies to Europe, one analyst said.

Kenny Polcari, chief market strategist at SlateStone Wealth, told CNBC’s “Street Signs Asia” that investors should zoom in on major US energy names that are also good dividend payers.

One stock he mentioned is up 125% this year and he says there’s more “room to run.”

Pro subscribers can read more here.

— Weizhen Tan

Australian economy grows 0.9% in second quarter

Australia’s real GDP grew 0.9% in the second quarter, after rising 0.7% in the previous period, official data shows.

The Australian Bureau of Statistics said continued growth was supported by the first full quarter of reopened borders.

The data also showed that the Australian economy grew by 3.6% in the past year. The ABS said strong domestic demand and an increase in travel supported overall growth.

— Jihye Lee

CNBC Pro: This chip stock has convincingly beaten its competitors this year – and analysts think it could go higher

After years of crushing returns in the market, semiconductor stocks have sold heavily this year. But one stock has emerged from the carnage relatively unscathed. Not only has it outperformed its peers, it has beaten the S&P 500 by a country mile.

And analysts think the stock could go even higher.

Pro subscribers can read more here.

— Zavier Ongo

US Treasury yields hit highest level since mid-June

A bond sell-off has pushed US Treasury yields to their highest levels since mid-June as investors weigh what strong economic data means for the Federal Reserve’s future rate hikes.

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The US 10-year yield rose by a whopping 3.353%, the highest level since June 16, when yields reached 3.495%. Yields are inverse to prices.

The US 30-year Treasury yield peaked at 3.484% and the US 5-year Treasury yield reached 3.334%, both the highest levels since mid-June.

The 2-year yield also rose to a daily high of 3.535%, but it is only the highest yield for the note since Friday.

– Carmen Reinicke


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