G'day folks and welcome to another trading day with your friendly, neighbourhood CMC Market Analyst! 

For real-time up-to-date data/news/research/ideas/strategies, check out our insights panel on the CMC Markets Invest platform and follow us on Twitter: 

Azeem Sheriff - @Azeem__Sheriff 
Tina Teng - @Tinateng_CMC
CMC Markets ANZ - @CMCMarketsAUSNZ
CMC Markets Singapore - @CMCMarketsSG
CMC Markets Canada - @CMCMarkets_CA

Trading Idea of the Day
 

ASX:HVN - Harvey Norman Holdings Ltd (BULLISH - long term & BEARISH - short term)

• Key levels on the chart - consider taking trades from key support/resistance zones.
• Harvey Norman's aggregated quarterly sales were negatively affected by depreciation in the euro, pound and NZ$
• The group flagged a major expansion into the Malaysian market, with plans to grow there from 28 to 80 stores by 2028.

• Consensus is Moderate Buy.

• Based on Morningstar’s fair value of $4.89 the stock appears to be undervalued.

ASX & Economic Key Events

ASX Key Events Calendar (TODAY)

Economic Key Events (TODAY)

Economic Key Events (YESTERDAY)

OPTO For Investors Research

Article of the Day: Global X Social Media Index ETF underperforms as ad spend falls

Podcast of the Day: Investment educator Brian Feroldi’s three principles for long-term investing
 

APAC Daily Report

Click here to access our daily APAC report, prepared by my fellow market analyst @TinaTeng_CMC
 

Market Snapshot & Highlights as of 8:00am AEDT

EXPECTATIONS: Energy LOWER (lower oil prices) & Materials LOWER on overall base metal prices.

Global Markets Headlines
 

• Bitcoin could plunge 70% to $5,000, Standard Chartered predicts, in possible 2023 ‘surprise’ (CNBC)
• iPhone maker Foxconn’s revenue slumps after Covid outbreak, unrest at China plant (CNBC)
• Chinese stocks rally on reopening hopes; Morgan Stanley upgrades to overweight (CNBC)
• Oil prices rose as much as 2% on hopes of China’s reopening and as OPEC+ maintains output targets (CNBC)

• Fed to Weigh Higher Interest Rates Next Year While Slowing Rises This Month (WSJ)

• Tankers seen heading to Russia as oil price cap goes into effect on exports (CNBC)

• Apple explores moving some iPad production to India, sources say (CNBC)
   

(All news & data sourced from AFR / The Australian / Bloomberg / Reuters / CNBC / Wall Street Journal / Morningstar / OPTO / Trading Economics)