Asia markets rise as parts of China’s economy showed further recovery; Japan stocks near 33- year high

“India has always been at the forefront for us,” Sameer Rehman, managing director of U.S. aerospace manufacturer Bell Flight told CNBC’s “Squawk Box Asia.”

“As the fastest growing economy, as the largest population now on the planet, we will continue to look at India as one of those markets where we have to be,” he said.

Bell Flight said China continues to be an active market for them, and the company has delivered 150 aircrafts to the country over the last five years.

Now, Bell Flight is looking to expand its business into the Indian market.

— Quek Jie Ann

Shares of K-pop agency YG Entertainment tumbled almost 9% after South Korean media reported that Blackpink member Lisa has rejected a contract renewal offer from the agency.

The stock tumble is YG’s largest one-day drop since Sept. 28, 2022.

A report from South Korean news outlet Star News says the Thailand-born member of the 4-person girl band has turned down two offers from YG. The size of the contract was reportedly worth 50 billion South Korean won ($37.6 million).

Read the full story here.

— Lim Hui Jie

China’s retail sales and industrial production picked up in August, with better-than-expected growth, according to National Bureau of Statistics data released Friday.

Retail sales grew by 4.6% in August from a year ago, beating expectations for 3% growth forecast by a Reuters poll. The increase was also faster than the 2.5% year-on-year pace in July.

Industrial production also rose by 4.5% in August from a year ago, better than the 3.9% forecast and faster than the 3.7% increase reported for July.

Fixed asset investment, however, grew by 3.2% year-on-year in August on a year-to-date basis. That missed expectations for a 3.3% increase and was slower than the 3.4% pace reported as of July.

Read the full story here.

— Evelyn Cheng

Analysts at capital markets and investment group CLSA picked three global stocks they expect will benefit from the “lucrative potential” of artificial intelligence.

“We estimate the global AI market could reach $1 trillion by 2026, with generative AI, the next big driver of productivity and innovation, making up $100 billion,” the analysts said in a note.

CNBC Pro subscribers can read more here.

— Amala Balakrishner

Financial giants Goldman Sachs, JPMorgan Chase and Morgan Stanley saw their shares rise Thursday, during what could mark the resurgence of large tech IPOs.

Goldman Sachs and JPMorgan added more than 2%, while Morgan Stanley gained 1.7%.

Chip maker Arm made its public trading debut Thursday, marking 2023’s biggest listing. Instacart and Klaviyo are also expected to list as soon as next week.

The rise in IPOs is particularly significant for Goldman, which is more exposed to investment banking than its peers.

— Hakyung Kim, Hugh Son

Analysts at Barclays have picked their “potential” winners and losers amongst consumer technology companies, naming stocks set to do well – or badly – when factors such as the ease of replicating selection, logistical intensity and the value of the good are taken into consideration.

“We think it’s still too early to declare the AI (artificial intelligence) “winners” and “losers” in the consumer internet space. Instead, we think the right thing for investors to do at pivotal times like today is to focus on previous major shifts in technology,” the analysts wrote in a Sept. 12 note entitled “a framework for generative AI success in consumer internet.”

What are the stocks to watch out for?

CNBC Pro subscribers can read more here.

— Amala Balakrishner

Wholesale inflation data for August in hotter than expected, rising 0.7% for the month. That came in ahead of the 0.4% increase expected by economists polled by Dow Jones.

Excluding food and energy, the figure rose 0.2% for the month and in line with estimates.

Retail sales also came in above expectations, rising 0.6% in August from July. That came in ahead of the 0.1% increase expected by economists. Excluding autos, retail sales increased 0.6% in August, versus the 0.4% increase expected.

— Samantha Subin

Many investors have chosen to remain in cash for a while as yields get ever higher this year.

Yields have risen sharply since 2022 as the U.S. Federal Reserve started to raise interest rates aggressively to combat inflation. In May, the yield on the 30-day U.S. Treasury bill climbed above 5%, and it’s remained there since, Wells Fargo Investment Institute said in an Aug. 28 note.

The pros weigh in on whether it’s a good idea to stay in cash for the remainder of the year.

CNBC Pro subscribers can read more here.

— Weizhen Tan

The energy sector led the market gains on Thursday on the back of high oil prices. The sector rose 1.3%, becoming one of the best performing S&P groupings. Hess Corp., ONEOK and Marathon Oil all climbed at least 2%.

West Texas Intermediate crude (WTI) gained 1.8% to $90.12 per barrel, topping the $90 threshold for the first time since November 2022. Brent crude was up 1.9%, at $93.62, reaching a 10-month high. Oil prices jumped as expectations of a tighter supply grew.

— Yun Li

The S&P 500 advance was broad-based with 409 names trading in positive territory in midday trading Thursday. All 11 sectors in the major average were in the green. The broader index was last higher by about 0.5%.

Energy was the leading S&P 500 sector, rising more than 1.2% after a rise in oil prices. In fact, WTI Crude prices hit their highest point since Nov. 2022 after topping $90 a barrel. Marathon Oil and EOG Resources shares were higher by more than 2%, each.

Real estate and materials sectors were the second and third best-performing sector, up 1.2% and 1%, respectively.

Health care, consumer staples and financials stocks were the laggards.

— Sarah Min