Oct 31, 2024
This is CNBC’s live blog covering Asia-Pacific markets. Asia-Pacific markets were set to open mixed Friday, after Wall Street benchmarks the Nasdaq Composite and S&P 500 suffered their worst day in nearly two months on downbeat Microsoft earnings forecast and Meta results. Traders await a slate of economic data from the region, including third-quarter producer prices index reading from Australia and Caixin China manufacturing purchasing managers’ index for October. Japan’s Nikkei 225 appeared set for a softer open, with the futures contract in Chicago at 38,470 and their counterpart in Osaka at 38,370 against the index’s last close of 39,081.25. Futures for Hong Kong’s Hang Seng index stood at 20,432, pointing to a rebound from its last close at 20,317.33. Australia’s S&P/ASX 200 kicked off trading 1% lower. Overnight in the U.S., all three major indexes dropped. The S&P 500 tumbled 1.86% to finish at 5,705.45 and the Nasdaq Composite lost 2.76% to close at 18,095.15 — both recorded their biggest one-day losses since Sept. 3. The Dow Jones Industrial Average declined 0.9% to end at 41,763.46. That marked the final trading day of a choppy month on Wall Street, with the 30-stock Dow recording monthly losses of 1.3%, S&P 500 declining 1% and the Nasdaq slipping 0.5%. —CNBC’s Hakyung Kim and Brian Evans contributed to this report. CNBC Pro: Wealth manager for the super-rich names 3 stocks to buy before the year-end Equity markets rallied this year, as investors remained bullish on Big Tech but also scooped up shares in under-the-radar companies. CNBC Pro touched base with Kevin Teng, CEO of Wrise Private Singapore, for his take on the stocks he favored at the start of the year, as well as names he’s betting on before the year’s end. The wealth manager — whose firm serves ultra-high-net-worth individuals across Asia, the Middle East and Europe — revealed his three stock picks, including two under-the-radar names. CNBC Pro subscribers can read more here on the three stocks he’s betting on now. — Amala Balakrishner
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