Asia-Pacific markets fall; oil rises 2% on possible OPEC+ supply

ANZ sees great chance of an OPEC+ cut of up to 1 million barrels per day

Ahead of an OPEC+ meeting on Oct. 5, ANZ sees a “significant opportunity for a cut” of as much as 1 million barrels per day, analysts at the company said in a note.

That move will likely be made “to counteract the excessive bearishness in the market.”

However, the note added that any cuts in production below 500,000 barrels per day would “be brushed aside by the market”.

—Jihye Lee

CNBC Pro: Investment Pro Says ETFs Are A $10 Trillion Opportunity – Revealing Areas Of ‘Huge’ Value

Exchange-traded funds offer the benefit of diversification, said Jon Maier, chief investment officer at Global X ETFs. He said the ETF market is “growing exponentially” and estimates it to be worth $10 trillion.

He lists several opportunities for ETF investors in this volatile market.

Pro subscribers can read more here.

— Zavier Ongo

Business confidence of major manufacturers in Japan is deteriorating

Sentiment of major Japanese manufacturers deteriorated in the July-September quarter, according to the Bank of Japan’s latest quarterly survey of tankan business sentiment.

The headline index for major manufacturers’ sentiment came in at 8, down from the previous quarter’s reading of 9. Economists polled by Reuters expected a print of 11.

“Our expectation and market expectations were that production numbers would pick up – supply conditions had improved, you’ve seen a diminishing impact on supply from the zero Covid policy in China, commodity prices went down a little bit,” said Stefan Angrick, a senior economist at Moody’s Analytics.

“The fact that the manufacturing side of the economy isn’t doing very well certainly isn’t good for the outlook,” he told CNBC’s “Squawk Box Asia.”

But the non-manufacturing index rose slightly, which could mean the late Covid recovery in Japan is getting underway, he added.

— Abigail Ng

Fri 30 Sep 20229:06 EDT

CNBC Pro: The five global stocks experiencing the deglobalization trend, according to HSBC

New research from HSBC says supply chains, geopolitical tensions and deteriorating financial conditions have forced many global companies to turn “substantially” inward in search of resilient revenues and growth.

In a tough economic environment with recessionary pressures, the bank said turning inward is “probably beneficial” for these stocks.

The report entitled ‘A wave of deglobalization?’ said foreign sales of European companies fell below 50% in 2021, the lowest level in the past five years.

Oil Prices Soar Amid Reports Of OPEC+ Production Cut CNBC Pro: Should Investors Flee Stocks? Strategists give their opinion – and reveal how to trade the volatility

With monetary policy set to tighten further in the months ahead and Wall Street finds itself entangled in the depths of a bear market abyss, many investors are beginning to wonder whether it is now time to exit the stock market and put their money into other asset classes. investing.

CNBC Pro spoke to market viewers and searched investment bank research to find out what the pros think.

Pro subscribers can read more here.

— Zavier Ongo

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