Stocks rise after the previous negative session

Billionaire investor Kevin O’Leary thinks market volatility is back, and believes investors will have to take some risks to get higher returns.

“If you want to get a 6% to 8% return, you’re going to have to put some money in harm’s way,” he told CNBC’s “Street Signs Asia” on Wednesday.

He names the stocks and sectors he likes to beat the current volatility.

Professional subscribers can Read more here.

– Xavier Ong

The People’s Bank of China kept the one-year medium-term lending facility loan rate unchanged at 2.75%, while partially renewing some outstanding loans.

That was in line with analyst expectations, According to a Reuters poll.

Separately, Chinese state media reported that some banks will cut interest rates on deposits, citing sources.

Hong Kong shares listed on China Merchant Bank It was 4.7% higher in morning trading after the report – Bing An BankMainland China shares are up 2.514% and Xiamen Bank is up 3.534%.

– Abigail Ng

Australia added 33,500 jobs in August, a 0.2% increase from July in seasonally adjusted terms. Net employment declined in July.

The country’s unemployment rate rose to 3.5%, with a youth unemployment rate of 8.4% for the month.

Market share was 66.6%, slightly higher than 66.4% in the previous month.

– Jie Lee

United State 2 year treasury The observation briefly increased to 3.8% repeatedly After hitting its highest level since November 2007 earlier this week.

short term bond yieldswhich is the most sensitive to Fed policy, rose after Tuesday’s US inflation report.

return on Treasury standard for 10 years It was also at 3.41% and the return on 30 year treasury bonds It was at 3.46%.

Yield moves inversely with prices, and the basis point is 0.01%.

– Jie Lee

New Zealand’s GDP rebounded in the June 2022 quarter, growing 1.7% after contracting 0.2% in the previous quarter, Official data showed.

Transportation, mail and warehousing jumped 19.7%, led by airlift and transportation support services, while arts, entertainment and other services grew 9%.

New Zealand eased Covid restrictions earlier this year, including easing entry requirements for tourists.

– Abigail Ng

US markets crashed on Tuesday – Worst since June 2020 – after another hot inflation report. But that may not last for long, according to Andrew Slimmon of Morgan Stanley Investment Management, who says the S&P 500 could enjoy a rally by the end of the year.

He predicts the level the S&P 500 will rise to by the end of the year, and he also selects stocks to buy in “fear.”

CNBC Pro subscribers can read more here.

– Weezin Tan