Asia-Pacific stocks mixed ahead of U.S. midterm elections

Prices of bitcoin and ether dropped 5.7% and 8% each as the price of FTX's exchange token FTT plunged over 20%.

The moves come after Binance CEO Changpeng Zhao tweeted that he would sell the exchange's remaining holdings of FTT, the native token of billionaire Sam Bankman-Fried's exchange.

Zhao's tweet followed a CoinDesk report that said the balance sheet of Alameda Research, Bankman-Fried's principal trading firm, is "full" of the FTT token.

This shows that "Alameda rests on a foundation largely made up of a coin that a sister company invented, not an independent asset like a fiat currency or another crypto," CoinDesk reported.

The prices of FTT plummeted more than 31% to $15.33 in Asia's afternoon – after hovering around $22 – the price at which Alameda CEO Caroline Ellison offered to buy "all" of what Binance is selling, in response to Zhao's tweet.

–Jihye Lee

India's inflation, while higher than expected, is still in a "comfort zone," said former Indian central bank governor Chakravarthi Rangarajan.

He said Indian policymakers normally targeted a 4% inflation rate, while tolerating levels above 2% or higher – Inflation in India is now at 7.4%.

"As of now, it is still about the target level or the comfort zone prescribed by the statutes," Rangarajan told CNBC's "Street Signs Asia" on Tuesday.

"It is a matter of concern but it is expected that as the global situation improves and supply disruptions come down, the inflation rate will also come down," he said.

— Su-Lin Tan

Shares of KakaoPay jumped more than 11% in South Korea's morning session after the company announced its expansion plans for Japan and China.

The payment app launched a partnership with AliPay Plus ahead of the Hangzhou Asian Games, which includes payment services for businesses near the Games' venue, the company said.

In Japan, users of KakaoPay will now have full access to its services at airports, convenient stores, drug stores, department stores as well as theme parks such as Osaka's Universal Studios.

Kakao, the parent company of KakaoPay, also rose more than 3%, and Kakao Bank, the firm's digital bank, gained more than 5%.

–Jihye Lee

Indonesian e-commerce firm Blibli's shares rose 4.9% in its Indonesia Stock Exchange debut on Tuesday.

It is the latest tech company in Southeast Asia to list in Jakarta since Bukalapak in August 2021 and GoTo in April 2022.

Its share price climbed to as high as 472 rupiah in early trading from the initial public offering price of 450 rupiah.

Shares retreated to and were sold at 454 rupiah, representing a market capitalization of 53.79 trillion rupiah ($3.4 billion).

–Sheila Chiang

Swiss investment bank UBS is forecasting a rebound in gold prices next year.

Gold has traditionally been considered an inflation hedge, but rising interest rates mean it has lost 18% of its value since March

UBS analysts said it offers "an attractive risk-reward" looking ahead — here's why.

CNBC Pro subscribers can read more here.

— Ganesh Rao

The Bank of Japan's board members see "no need to immediately change monetary policy," according to the summary opinions from October's meeting.

"Continued monetary easing is necessary in order to raise productivity and wage levels through supply-side reforms," the report said.

The Bank of Japan summary reiterated the necessity to monitor inflationary pressures and its impact on households and wages "while paying attention to the side effects of monetary easing."

The central bank also hinted at preparations for a shift from its current monetary stance.

It said, "It is also important to continue to examine how future exit strategies will affect the market and whether market participants will be well prepared for them," without further elaboration.

— Jihye Lee

Morgan Stanley's Andrew Slimmon expects the market to rise as we head toward the end of the year.

"Despite [the] Fed Chair throwing cold water on the concept of a Fed pivot, I still believe the equity market will rally into year-end," Slimmon, senior portfolio manager at Morgan Stanley Investment Management, told CNBC's "Street Signs Asia" Friday.

He expects all but one sector to move higher, and names three stocks to cash in.

CNBC Pro subscribers can read more here.

— Weizhen Tan

Stocks rallied Monday as investors looked ahead to a packed week with congressional midterm elections and key inflation data on deck over the next few days.

The Dow Jones Industrial Average traded higher by 423.78 points, or 1.31%, to 32,827. The S&P 500 gained 0.96% to 3,806.80. The Nasdaq Composite rose 0.85% to 10,564.52, after trading between gains and losses earlier in the session.

All three major averages notched a second straight day of gains.

— Sarah Min