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Asia-Pacific shares trade mostly lower; China manufacturing activity shows growth - CNBC
Jan 31, 2023 52 secs
However, the fact that the stock is up by more than 2% subsequently is an "encouraging" sign for the rest of Big Tech's earnings, Gleeson told CNBC's "Squawk Box Europe".

"The Company has overcome the shock of a complex and challenging external environment and a number of unexpected factors to achieve such a strong year-on-year growth in new energy vehicle sales," the report further stated.

China's official manufacturing purchasing managers' index (PMI) posted an expansion for the first time since October 2022, according to the National Bureau of Statistics.

"Demand for smartphones remained sluggish with the mass market contracting sharply due to continued inflation and geopolitical instability," Samsung's earnings release stated.

South Korea's factory output for December fell 7.3%, marking its worst annualized reading in more than two and a half years since May 2020's figure of a 9.6% plunge.

Though U.S. gross domestic product rose at an annualized pace of 2.9% in the fourth quarter, there is weakness underlying that headline number, "as private demand printed its weakest growth since the start of the recovery," the strategist said.

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