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    Live updates, Japan earthquake, China Caixin PMI

    21 Mins Ago

    Dutch government partially revokes ASML’s chip equipment export license to China

    The Dutch government has partially revoked semiconductor equipment maker ASML‘s export license to China for two of its systems used in manufacturing advanced chips.

    “A license for the shipment of NXT:2050i and NXT:2100i lithography systems in 2023 has recently been partially revoked by the Dutch government, impacting a small number of customers in China,” said ASML in a statement.

    NXT:2050i and NXT:2100i are deep ultraviolet lithography machines used in the volume production of the most advanced logic and memory chips.

    The company said it does not expect the move to have a material impact on its financial outlook for 2023.

    ASML has been restricted by the Dutch government from exporting its extreme ultraviolet lithography machines to China, in a bid to contain China’s chip making tech. ASML has not shipped the equipment to China so far.

    — Sheila Chiang

    An Hour Ago

    Caixin China December manufacturing PMI comes in at 50.8

    A private survey showed manufacturing activity in China expanded in December, at odds with a similar survey conducted by the country’s statistics bureau that reported a contraction.

    The Caixin manufacturing purchasing managers’ index came in at 50.8 in December, according to a release Tuesday, following a 50.7 reading for November. China’s official PMI fell to 49.0 in December from 49.4 the previous month, the country’s National Bureau of Statistics said in a Sunday release.

    A PMI reading above 50 indicates expansion in activity, while a reading below that level points to a contraction.

    — Clement Tan

    3 Hours Ago

    China factory activity contraction deepened in December

    China’s manufacturing activity contracted further in December 2023, in a sign that more policy support was likely needed to revive its economy.

    Official data released over the weekend showed China’s manufacturing purchasing managers’ index was at 49 in December, contracting for the third straight month and more than a Reuters poll forecast of 49.5.

    A PMI reading below 50 signifies a contraction.

    December’s PMI was also the sharpest contraction in manufacturing since June 2023, falling further from a November reading of 49.40.

    The Caixin manufacturing survey for December is due later in the day.

    — Shreyashi Sanyal

    3 Hours Ago

    Australia’s factory activity contracts at fastest pace since May 2020: Judo Bank

    Australia’s factory activity in December saw its sharpest contraction since May 2020, according to private surveys from Judo Bank.

    The country’s manufacturing purchasing managers’ index slid to 47.6 in December, down from 47.7 in November and marking its 10th straight month of contraction.

    In its release, the bank wrote that this was mainly due to a further deterioration in demand from the country’s manufacturing sector, with incoming new orders for Australian manufactured goods falling for a 13th straight month.

    This was because of soft economic conditions and pressure from high interest rates, with the bank adding that foreign demand was also subdued.

    — Lim Hui Jie

    3 Hours Ago

    CNBC Pro: Time to invest in alternative assets? The pros aren’t so sure

    From family offices to financial advisors and beyond, interest in alternative assets appears to be growing — but the pros appear mixed on whether retail investors should get invested.

    For Caesar Sengupta, CEO of financial services firm Arta Finance, there is “incredible value in private markets” and the assets shouldn’t be overlooked.

    Elsewhere, Saxo’s chief investment officer Steen Jakobsen argues that retail investors need to err on the side of caution when dabbling in alternatives.

    “I think you need to be more than a private retail investor to go into these — my advice is don’t buy it, even if it’s priced to perfection,” he said, adding what asset classes he is bullish on for 2024.

    CNBC Pro subscribers can read more here.

    — Amala Balakrishner

    3 Hours Ago

    CNBC Pro: Goldman Sachs says these 3 Big Oil companies ‘screen as attractive’ – giving one 33% upside

    Energy stocks may have had a tough year, but Goldman Sachs sees promise in European Big Oil – naming integrated oil stocks to play the theme in the new year.

    “We are currently at a turning point as EU Big Oils started to outperform U.S. Big Oils, to potentially close their 40% valuation gap against their U.S. peers,” the investment bank’s analysts said.

    The investment bank’s positive outlook on Big Oil comes even oil prices were pushed up as major shipping lines and oil transporters suspended travel through the Red Sea. The 2024 outlook for oil has also been underwhelming, with the International Energy Agency expecting the slowdown to continue next year.

    Even so, Goldman noted that “EU Big Oils now screen as attractive thanks to enhanced buyback programs, leading to double digit cash returns to shareholders,” naming its top picks to play.

    CNBC Pro subscribers can read more here.

    — Amala Balakrishner

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