Asia markets fall as Japan's core inflation marks highest in over 40 years

Taiwan Semiconductor Manufacturing Co. is in talks with suppliers to build its first European chip plant in Dresden, Germany, Financial Times reported, citing people familiar with the matter.

The company will reportedly send senior executives to Germany to discuss government support levels and local supply chain. The plant will aim to focus on 22nm and 29nm chip technologies, the report said.

Shares of the firm listed in Taiwan traded 2.8% lower in Asia's trade on Friday.

— Jihye Lee

Taiwan Semiconductor Manufacturing Co. is in talks with suppliers to build its first European chip plant in Dresden, Germany, Financial Times reported, citing people familiar with the matter.

The company will reportedly send senior executives to Germany to discuss government support levels and local supply chain. The plant will aim to focus on 22nm and 29nm chip technologies, the report said.

Shares of the firm listed in Taiwan traded 2.8% lower in Asia's trade on Friday.

— Jihye Lee

U.S. Secretary of State Antony Blinken spoke with his Chinese counterpart Wang Yi and discussed Russia's war on Ukraine, the situation on Covid and U.S.-China bilateral relations.

"The Secretary discussed the need to maintain open lines of communication and responsibly manage the U.S.-PRC relationship," U.S. Spokesperson Ned Price said in a statement.

"It is critically important to maintain open channels of communication," Blinken said in a post on Twitter.

A readout of the meeting from the Chinese foreign ministry added that the two also discussed issues around Taiwan.

—Lee Ying Shan

Singapore's core inflation print rose 5.1% in November on an annualized basis, remaining unchanged from October's figure.

The reading was higher than estimates in a Reuters poll forecasting a 5% increase, driven by moderate increases in the services and electricity costs, according to the Ministry of Trade and Industry.

Inflation is expected to stay elevated in the first half of 2023 before "slowing more discernibly" the ministry said.

In Malaysia, its core CPI for November also remained unchanged at 4% compared to a year ago, beating expectations of 3.9%.

— Lee Ying Shan

The Bank of Japan had hinted at an upcoming policy shift during its October monetary policy meeting, minutes from its meeting on October 27 and 28 showed.

One member noted that it was "important to continue to examine how future exit strategies would affect the market and whether market participants would be well prepared for them," the statement said.

While members of the central bank's policy board members highlighted the need to its long-held dovish stance, while noting the need for "paying attention to the side effects of monetary easing," the minutes showed.

"It was necessary to examine the impact of high prices on household behavior and wages humbly," it said.

— Jihye Lee

China is planning to scrap quarantine requirements for overseas travelers next month, Bloomberg reported, citing sources familiar with the matter.

International arrivals into mainland China will only need to complete three days of health monitoring, which has yet to be formally defined, the report said.

This would replace guidelines to be placed in a quarantine hotel or isolation facility.

Travelers are currently required to quarantine for five days at a hotel or isolation facility, followed by three days of home isolation.

— Lee Ying Shan, Evelyn Cheng

Oil prices rose on expectations that Russian oil exports could fall by 20% in December, according to calculations by Reuters.

Brent crude futures rose 0.72% to $81.56 a barrel, while U.S. marker West Texas Intermediate futures traded up 1.01% at $78.27 a barrel.

An expected drop in Russian crude exports is seen to add pressure onto a rise in demand of heating oil as part of the U.S. prepares for a winter storm.

– Lee Ying Shan

Japan's core consumer price index rose 3.7% in November on an annualized basis, marking the fastest pace since December 1981, when it rose by 4%.

The reading was in line with estimates from analysts polled by Reuters, and comes after notching 3.6% last month.

The reading remains above the Bank of Japan's inflation target of 2%. Nationwide CPI for all items stood at 3.8%.

— Lee Ying Shan

Automation and cost-cutting at many businesses during a recession will drive up profits at two Silicon Valley companies, according to tech fund manager Jeremy Gleeson.

Gleeson, who manages a $1.5 billion tech fund at AXA, believes if there is a recession next year, then "companies are going to need to do more with less."

"One of the ways they could do that is by utilizing technology better to enhance the productivity of their existing workforce," he said and named the two stocks that will benefit from the trend.

CNBC Pro subscribers can read more here.

— Ganesh Rao

Stocks closed lower Thursday, after pulling back from session lows, as year-end selling resumed on Wall Street.

The Dow Jones Industrial Average fell 348.99 points, or 1.05%, after falling as much as 803.05 points earlier in the session. S&P 500 declined 1.45%, while the Nasdaq Composite was 2.18% lower.

— Sarah Min

High-growth tech stocks are unlikely to rebound after a "pivot" on interest rates from the Federal Reserve, according to one market strategist.

CNBC Pro subscribers can read why Peter Toogood, chief investment officer at Embark Group, also believes stocks such as Peloton are an "absolute nonsense" trade for investors.

— Ganesh Rao