Asia-Pacific markets fall ahead of U.S. inflation data

This is CNBC's live blog covering Asia-Pacific markets.

A man looks at an electronic quotation board displaying stock prices on the Tokyo Stock Exchange in Tokyo on August 2, 2022.
Kazuhiro Nogi | AFP | Getty Images

Shares in the Asia-Pacific fell on Thursday as investors await inflation data from the U.S. due later stateside.

The Nikkei 225 in Japan was 0.6% lower at 26,237.42 and the Topix was down 0.77% at 1,854.61. Toshiba's stock rose more than 9% after local media Kyodo reported a potential buyout and closed 7.38% higher. Japan's yen strengthened after touching 146.98 per dollar.

South Korea's Kospi shed 1.8% to 2,162.87 and the Kosdaq lost 2.99% to 651.59. The Hang Seng index in Hong Kong traded 1.58% lower in the final hour of trade, with the Hang Seng Tech index down 3%.

Mainland China's stocks gave up gains — the Shanghai Composite was down 0.3% at 3,016.36 and the Shenzhen Component shed 0.192% to 10,817.67. In Australia, the S&P/ASX 200 closed down 0.07% at 6,642.60.

MSCI's broadest index of Asia-Pacific shares outside Japan was down 1.03%. Thailand's market is closed for a holiday Thursday.

Economists expect U.S. consumer prices to have risen 0.3% in September from August, and 8.1% from the same period a year ago. In August, the CPI rose 0.1% from July and 8.3% compared with the year before.

U.S. stocks fell overnight, with the S&P 500 hitting its lowest close since November 2020.

— CNBC's Patti Domm, Carmen Reinicke and Tanaya Macheel contributed to this report.

Japanese yen's further weakening shows Tokyo is not 'drawing the line in the sand': RBC Capital

Japan's central bank can 'certainly spend a lot more' to defend the yen, says strategist
Japan's central bank can 'certainly spend a lot more' to defend yen: Strategist

Japan has sufficient foreign reserves that it could use to defend its currency, but it is "quite clear now that Tokyo is not drawing the line in the sand" on dollar-yen, said Alvin Tan, head of Asia FX strategy at RBC Capital Markets.

Authorities in Japan did not intervene despite the yen slumping overnight to 146.98 against the dollar — weaker than the 145.9 level that prompted officials to step in in September.

"What happened yesterday is quite instructive," Tan said. "They haven't intervened yet even though it's currently trading well above 146."

Japanese officials have reportedly said they are ready to take action, and that they are watching the speed of the yen's weakening.

— Charmaine Jacob

TSMC's third quarter net income surges around 80%, beats estimates

Taiwan Semiconductor Manufacturing Company's earnings topped estimates by posting a surge of almost 80% in its third-quarter net profit from a year ago.

The Apple supplier's net income rose to 280.9 billion new Taiwan dollars ($8.81 billion) for the July-September quarter – compared with 156.26 billion new Taiwan dollars for the same period in 2021.

Analysts expected net profit of 265.64 billion new Taiwan dollars, according to Refinitiv data.

– Jihye Lee

Chips war to benefit Asian manufacturers: Malaysia Semiconductor Industry Association

Malaysia will benefit from U.S. chip export restrictions, says Malaysian industry association
Malaysia will benefit from U.S. chip export restrictions, says MSIA

The U.S. export restrictions could benefit many manufacturing countries in Asia including Malaysia, Wong Siew Hai, President of the Malaysia Semiconductor Industry Association said.

"Since they are putting tariffs on chips to ship out from China to the U.S., China has to find a solution. So basically, there's a lot more room for opportunities for everybody," Wong told CNBC's "Squawk Box Asia" on Thursday.

"Currently, there are instances of companies setting up in Malaysia, in Vietnam ... [and] there are a lot more, because with more restrictions the U.S. put on China, China has to find solutions," he said.

— Su-Lin Tan

TSMC secures one-year license from U.S. for China chip expansion, Nikkei reports

Taiwan Semiconductor Manufacturing Co. has secured a one-year license to keep ordering U.S. chipmaking equipment for its China expansion, Nikkei reported, citing sources.

The license from the U.S. government allows the company to continue shipping equipment to its plan in Nanjing, China, and serves as a temporary waiver from the latest sweeping rules announced by the U.S. The controls are aimed at preventing China from obtaining or manufacturing key chips and components for supercomputers.

TSMC declined to comment to Nikkei.

This comes after South Korea's SK Hynix on Wednesday announced that it had received a one-year exemption from the U.S. government.

–Jihye Lee

CNBC Pro: Goldman Sachs favors Tesla and one other big automaker even during an economic slowdown

Goldman Sachs raised its forecasts for electric car sales and said Tesla and another big automaker will benefit from the Inflation Reduction Act.

It comes at a time when the auto sector faces multiple headwinds in 2023, from rising interest rates to a fall in consumer demand.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Japan's September producer price index rises most in five months

Japan's producer price index for September rose 9.7% compared to the same period a year ago — the most in 5 months.

The Bank of Japan's Corporate Goods Price Index, including the producer price index, measures the price companies charge each other for their goods and services.

The index rose 0.7% by month – after rising 0.4% in August from July.

–Jihye Lee

Earnings announcements: Taiwan's TSMC, Japan's Fast Retailing

Taiwan Semiconductor Manufacturing Company is expected to report a 34.6% rise in revenue to $20.03 billion in the third quarter of this year, compared with $14.88 billion in the same period last year, according to Refinitiv data.

The stock was trading 1.38% higher in Asia's morning while the broader Taiex was about flat. Its U.S.-listed shares gained around 1% overnight.

Meanwhile, analysts expect Japan's Fast Retailing to post a record annual profit of 291 billion yen ($1.98 billion), or 17% increase for the full fiscal year, estimates from Refinitive show.

Fast Retailing's shares were last up 0.09%.

— Abigail Ng

CNBC Pro: Is Meta a stock to buy or dodge? A bull and a bear face off

These are tumultuous times for Meta, with investors fleeing this year as it struggles with headwinds.

The stock in late September plunged to trade at its lowest since January 2019 – and since then has dropped even more.

Do big investors consider the Facebook parent a buy, now that its shares are so cheap, or is it one to avoid?

CNBC's "Street Signs Asia" spoke to Paul Meeks of Independent Solutions Wealth Management, and Jake Dollarhide of Longbow Asset Management, as they face off in making their bull-and-bear case for Meta.

Pro subscribers can read more here.

— Weizhen Tan

Shares of biotech firm BeiGene jump 20% after positive update on blood cancer drug

Hong Kong-listed shares of Beigene jumped 20% at the open after the company announced positive late-stage data from its blood cancer drug.

The biotechnology company said its treatment for adult patients with chronic lymphocytic leukemia or small lymphocytic lymphoma is currently under review with the FDA, with a decision expected in January 2023.

–Jihye Lee

Toshiba up more than 9% after report of potential buyout

Shares of Toshiba jumped as high as 9.4% after a report said a consortium could acquire the company for about $19 billion.

Kyodo News reported that the Tokyo-based fund leading the group, Japan Industrial Partners, asked multiple companies, including Chubu Electric Power and Orix, to take part in the move, citing people familiar with the matter.

Toshiba could be delisted if the buyout is completed.

–Jihye Lee

CNBC Pro: This EV battery-related sector is attractive right now, and Citi names stocks to cash in

This sector could be the next big technology to power electric vehicles, with Citi calling it one of the ten fastest growing industrial tech markets as it highlights opportunities in this space.

Morgan Stanley also flagged one stock that it says is a "hidden EV battery play."

CNBC Pro subscribers can read more here.

— Weizhen Tan

Stocks close lower after choppy session

All three major averages closed lower Wednesday after whipsawing between gains and losses throughout the day.

The S&P 500 shed 0.33%, falling to 3,577.03, its lowest close since November 2020 and its sixth consecutive daily loss.

The Dow Jones Industrial Average shed 28.34 points, or 0.10%, to close at 29,210.85. The Nasdaq Composite fell 0.09% to close at 10,417.10.

—Carmen Reinicke

Fed minutes show central bank sees more rate increases, higher rates for longer

The Federal Reserve's September meeting minutes, released Wednesday, show that the central bank expects to continue increasing interest rates and hold them higher until inflation shows signs of abating.

The minutes reflect policymaker's discussions ahead of the last 0.75 percentage point increase, the third consecutive hike of that size delivered this year.

The central bank has been surprised with the persistent pace of inflation, but remain optimistic that rate hikes will help bring price increases back in check.

—Carmen Reinicke, Jeff Cox