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South Korea inflation, China reopens

Yamaguchi is emerging as a candidate for the next Bank of Japan chief: Sankei

Former Bank of Japan deputy governor Hirohide Yamaguchi is emerging as a candidate to lead the central bank, Japanese local media Sankei reported, citing people familiar with the matter.

Yamaguchi, who held the position of deputy governor of the central bank until 2013, has been a vocal critic of current governor Haruhiko Kuroda’s ultra-dove monetary policy.

The paper added that Yamaguchi would indicate a shift away from former Japanese Prime Minister Shinzo Abe’s economic stimulus strategy also known as “Abenomics”[ads1];.

Sankei reported that Yamaguchi is drawing attention as current Prime Minister Fumio Kishida moves away from the stimulus-oriented monetary policy, and that the appointment of the next central bank governor will be finalized next month.

– Jihye Lee

Foreign talent will be less likely to come to Singapore after Hong Kong’s reopening, says UOB

South Korea inflation, China reopens

With Hong Kong’s reopening, foreign nationals may be less inclined to move to Singapore, said Alvin Liew, senior economist at United Overseas Bank.

“Singapore has benefited from the pool of talent that came here because of the stricter rules in Hong Kong itself,” Liew said, adding that the influx of labor moving to Singapore “may see some relief” now that the city has reopened.

“The talent pool itself may be less inclined to move here,” said the Singapore-based economist.

Liew also added that Hong Kong’s reopening is a step in the right direction for the region to “return to business as usual,” Liew said.

– Charmaine Jacob

China’s markets will see a ‘tactical’ recovery next year, analyst says

Chinese markets are likely to see a “tactical upturn” of a recovery in the coming year, Port Shelter Investment Management said.

“It’s just obvious to say that we’re likely to see a tactical bounce,” Richard Harris, CEO of the firm, told CNBC.

“It will be tactical, because China, at the end of the day, has to fit in with the rest of the world,” he said.

Harris expects China’s recovery to take place in the first quarter of the year, and the sentiment continues into the second quarter as well.

This recovery also depends on many currently unknown elements, such as whether strong stimulus will be injected into the Chinese economy, and what will be done with inflation when the economy picks up, he added.

– Lee Ying Shan

New Chinese tech ETF could ‘bring retail liquidity’ to Singapore market: Investment company

The asset management firm explains how the SGX ETF listing will differ from the other China index funds

The Singapore-listed CSI Star and ChiNext 50 Index Exchange Traded Fund could bring liquidity from mainland China to Singapore, Ding Chen, CEO of CSOP Asset Management, told CNBC’s “Squawk Box Asia.”

The firm’s ETF was listed on the Singapore Exchange on Friday and is a sub-fund of CSOP SG ETF Series I, a Singapore fund, according to the fund’s site.

“Through SGX, Singapore investors and global investors can also access China-listed ETFs,” Ding said, adding that Chinese investors can also invest directly in Singapore ETFs.

Asked about the development of the firm’s ETF portfolio, Ding said it will “bring more new, younger generations of technology companies” to the market.

– Sheila Chiang

South Korea’s inflation was unchanged in December

South Korea’s consumer price index for December rose 5% year-on-year, Bank of Korea statistics showed.

The reading maintained cooler levels for the month and remained unchanged from November.

The pressure is in line with economists’ expectations asked by Reuters.

– Jihye Lee

Shares close higher on Thursday

All the major averages finished higher on Thursday.

The Dow Jones Industrial Average rose 345.09 points, or 1.05 percent. The S&P 500 rose 1.75% and the Nasdaq Composite rose 2.59% to 10,478.09.

– Tanaya Machel

CNBC Pro: Chip stocks did poorly this year — but this fund manager remains bullish, names 2 to buy

Jobless filings rose last week; continuing injuries hit highest since February

Jobless claims rose last week due to the Federal Reserve’s efforts to cool the economy and especially the labor market.

Initial filings for unemployment benefits totaled 225,000 for the week ended Dec. 24, the Labor Department reported Thursday. That was an increase of 9,000 from last week and slightly above the 223,000 estimate from the Dow Jones.

Long-term ongoing claims, which are a week behind the headline number, jumped to 1.71 million, an increase of 41,000 to the highest level since early February.

The numbers this time of year are always noisy because of the holidays. Claims not adjusted for seasonal factors rose by 23,146, an increase of 9.3%.

-Jeff Cox

CNBC Pro: Citi Names Its Best Biotech Stock Picks for 2023 – Giving a 73% Upside

Biotech is set to remain a “stock picker market” in 2023, according to Citi.

The bank explains how biotechnology can perform based on different economic scenarios, and mentions three top picks for 2023.

CNBC Pro subscribers can read more here.

— Weizhen Tan

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