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

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