Asia-Pacific markets, trade data, Bank of Japan

South Korea’s economy marked its first contraction since 2020

South Korea’s gross domestic product declined 0.4% in the fourth quarter of 2022 from the previous quarter, marking the first contraction in two and a half years.

Private consumption fell 0.4%, exports contracted 5.8% and manufacturing fell 4.1%, according to the Bank of Korea.

Government spending increased sharply by 3.2% compared to a 0.1% increase in the third quarter.

On a year-over-year basis, South Korea’s fourth-quarter GDP rose 1.4% from a year earlier, slightly beating Reuters’ expectations of 1.5% growth.

— Lee Ying Shan

CNBC Pro: Want to cash in on China’s reopening? Bank of America and UBS have some less obvious stock picks

Stocks in certain key sectors directly related to China’s reopening, such as domestic consumption and travel, have performed well in recent months.

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Investors looking for entry into this stock may find it unpalatable at current valuations. But there may be other ways to play the reopening, with Bank of America and UBS having identified a raft of less obvious recipients outside of China.

Pro customers can read more here.

— Zavier Ong

CNBC Pro: Lithium has a strong year ahead of it — and China’s reopening will boost the stock, analysts say

Things are looking up for the electric vehicle industry, thanks to the reopening of China – especially in the second half of the year, an analyst said.

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Corinne Blanchard, vice president of lithium and cleantech equity research at Deutsche Bank, named one top stock pick.

CNBC Pro subscribers can read more here.

— Weizhen Tan

The stock is mixed

Microsoft shares shed after-hours gains, turning negative

Microsoft shares fell about 1% in after-hours trading, reversing earlier gains.

Shares were initially higher after the company posted quarterly earnings per share that beat Street expectations. However, investor sentiment dipped after Microsoft issued disappointing guidance for revenue in the current quarter on its earnings conference call.

The company forecast $50.5 billion to $51.5 billion in fiscal third-quarter revenue, while analysts polled by Refinitiv expected $52.43 billion.

Read more about Microsoft’s decision here.

Darla Mercado, Jordan Novet

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