Under the revised rules, travelers will have to stay in a quarantine facility for five days, shorter than the previous seven-day period, with a two-day observation at home. — Evelyn Cheng, Li Ying Shan
Earnings preview: Softbank will post net earnings after looking past losses
Softbank is expected to post a net profit in its upcoming quarterly earnings. An average of forecasts predicts the Japanese conglomerate will post an annual net profit of 2.769 trillion yen ($19.5 billion) for the second quarter ended Sept. 30, according to research by Refinitiv. The company posted two consecutive periods of quarterly net losses, with a 3.16 trillion yen net loss in the first quarter ended June 30 and a 2.1 trillion yen net loss in the fourth quarter ended March 30. — Lee Ying Shan
Hong Kong moves: Alibaba, JD.com, Tencent soar
Shares of Chinese technology companies listed in Hong Kong rose in early Asian trade as the broader Hang Seng index added just over 6 percent. Tech giants Alibaba and JD.com rose 7.94 percent and 10 percent, respectively. Tencent rose 9.16% and Meituan gained 12.26%. — Lee Ying Shan
Currency control: Japanese yen, Chinese yuan at strengthened levels
The Japanese yen and Chinese yuan were hovering around strengthened levels after the US dollar index fell more than 1% overnight on a softer-than-expected inflation report. The yen was at 141.63 against the dollar, hovering around the strongest levels seen in two months before weakening after 150 in October. The onshore yuan was around 7.18, also trading near its strongest levels against the dollar in nearly a month. — Jihye Li
Asia-Pacific indices open after US inflation report
CNBC Pro: Bitcoin Will Fall Further, Fund Manager Says – Until This Catalyst Kicks In
Bitcoin is down 75% from its all-time high and a cryptocurrency exchange is on the brink of bankruptcy. In such an environment, a bond manager reveals the only thing needed to push prices higher. Michael Howell of Cross Border Capital also said that because of the missing catalyst, there was an increased risk that investors would get in “a little too early”. CNBC Pro subscribers can read more here. — Ganesh Rao
CPI rises less than expected
The U.S. consumer price index — a broad gauge of inflation — rose 0.4 percent in October from the previous month. On an annual basis, the CPI increased by 7.7%. Economists polled by Dow Jones had expected a gain of 0.6% on a monthly basis and a rise of 7.9% on a year-over-year basis. Excluding volatile food and energy costs, the so-called core CPI rose 0.3% for the month and 6.3% year-on-year, compared with the respective estimates of 0.5% and 6.5%. — Jeff Cox
Dollar index on pace for worst day since December 2015
The U.S. dollar fell on Thursday against a basket of other currencies as investors cheered a weaker-than-expected October CPI report, signaling that inflation may have peaked. The dollar index fell 2%, setting the pace for its worst daily performance since Dec. 4, 2015. If the index falls more than 2.1%, it will reach levels not seen since 2009. This week, the dollar index fell 2.3% and is on pace for its worst week since March 2020. —Carmen Reinick
Biden to raise concerns about Xi’s relationship with Putin ahead of G-20 summit
The US government has introduced some of its most sweeping export controls aimed at cutting China off from advanced semiconductors. Analysts said the move could hamper China’s domestic chip industry. Mandel Ngan | AFP | Getty Images President Joe Biden is expected to discuss Russia’s war in Ukraine with Chinese President Xi Jinping next week in a face-to-face meeting. The meeting of the two leaders, the first since Biden assumed the US presidency, will take place ahead of the G20 Summit in Bali, Indonesia. “I think the president will be honest and direct with President Xi about how we view the situation in Ukraine with Russia’s war of aggression,” a senior Biden administration official told reporters. “This is an issue that the president and President Xi have talked about many times in the past. They talked about it at length in March in their video call and then they talked about it again in July, so it’s part of an ongoing conversation between the two of them added the official, who spoke on condition of anonymity. — Amanda Macias
