Asia-Pacific markets are trading lower; China keeps LPR stable

As expected, China is maintaining its prime lending rates

China has left its benchmark rate unchanged for the third month in a row, according to an announcement by the People’s Bank of China.

The one-year bond prime rate is stable at 3.65%, and the five-year bond is also fixed at 4.3%, the notice said.

— Abigail Ng

South Korea saw exports fall further in the first 20 days of November

South Korean exports fell 16.7% year-on-year in the first 20 days of November, trailing demand from China, according to customs data.

The slump in exports is a sharp drop from October’s fall of 5.5% compared to the same period a year ago.

Imports also fell 5.5% during the first 20 days of November, resulting in a slight improvement in the trade deficit – $4.4 billion for the period, compared to a $4.9 billion deficit recorded in October. reported.

The country has so far recorded a trade deficit totaling $40 billion, the agency’s statistics showed.

— Jihye Lee

CNBC Pro: Morgan Stanley’s Mike Wilson Predicts S&P 500 Bottom, Calls It a ‘Great Buying Opportunity’

Mike Wilson, Morgan Stanley’s Chief US Equity Strategist, says we are in the “final stage” of the bear market, but the situation will remain challenging for some time to come.

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

CNBC Pro subscribers can read more here.

— Weizhen Tan

China is expected to keep its benchmark interest rates stable, according to a Reuters poll

China’s central bank is expected to leave its interest rates on one-year and five-year loans unchanged, according to analysts polled by Reuters.

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

The People’s Bank of China last cut both rates in August.

China’s offshore yuan was weaker at 7.1376 against the US dollar prior to the decision early Monday.

— Abigail Ng

CNBC Pro: Strategist says Chinese tech stocks like Alibaba are “deeply undervalued.”

This year, the 30% drop in value of Chinese Big Tech stocks is like alibabahas made them “incredibly cheap” according to investment bank China Renaissance.

Head of equities, Andrew Maynard, believes not only that the stock market seems to have bottomed out, but also that investors could miss out on a rally if they remain underweight in China.

“Without a doubt, an underweight position in China will cost you your future,” Maynard said.

CNBC Pro subscribers can read more here.

— Ganesha Rao

Markets are looking for more indications of rate hikes from the Fed and the economy in the coming week

Investors may want to be a little more cautious in the coming week as equities head for quiet trading and the bond market’s recession warnings become increasingly louder.

The Thanksgiving holiday on Thursday should mean markets are likely to be quiet on Wednesday and Friday. Merchants will monitor Black Friday holiday shopping reports for consumer feedback.

“It really is a week where data dependency is key,” said Julian Emanuel, senior managing director at Evercore ISI. “The bias [for stocks] is higher unless the data continues to deteriorate and the Fed maintains its aggressive stance…which has clearly strengthened over the past 48 hours.”

Check out our full deep dive on what to expect in the week ahead here.

— Patti Domm, Tanaya Macheel

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