Asia-Pacific stocks, RBA, interest rate

The Reserve Bank of Australia kept rates steady at 4.1% after its meeting, in line with Reuters’ expectations.

“Inflation in Australia has passed its peak but is still too high and will remain so for some time yet,” the central bank’s governor, Michele Bullock, said in a statement.

She noted that while goods inflation has eased further, prices of many services are still continuing to climb, alongside a jump in fuel prices.

Australia’s inflation in August ticked up up 5.2% year on year, according to official data.

“Returning inflation to target within a reasonable timeframe remains the Board’s priority,” the statement further read.

“Some further tightening of monetary policy may be required to ensure that inflation returns to target in a reasonable timeframe,” Bullock said.

—Lee Ying Shan

Shares of embattled Chinese property giant Evergrande soared after it resumed trading in Hong Kong on Tuesday.

The stock rose 22% in early trade, after briefly touching 46 Hong Kong cents shortly after the open. Shares have been volatile since resuming trade in late August following a 17-month suspension. Evergrande’s market valuation has been hovering around 5 billion Hong Kong dollars ($639.8 million), a fraction of its value prior to the developer’s default.

Last week, the Chinese property firm announced that its director and executive chairman is under scrutiny over suspected crimes.

Evergrande’s EV unit also halted trading Tuesday, citing a pending announcement.

—Lee Ying Shan

The Reserve Bank of Australia is expected to keep rates unchanged in the upcoming policy decision meeting, ANZ forecasts.

“We still expect a really hawkish pause from the reserve bank of Australia. We’re not expecting them to raise rates in the next couple of months,” said Adelaide Timbrell, senior economist at ANZ.

It will be the central bank’s first meeting under new governor Michele Bullock. According to a Reuters poll, the central bank is expected to hold rates at 4.10%.

“We’ll see an extended pause from the reserve bank right up until November next year,” Timbrell forecasts, estimating that the bank will likely only start cutting rates in the fourth quarter of next year.

However, “discouraging” inflation results could mean added risks of further action, the senior economist cautioned.

Australia’s inflation in August ticked up 5.2% year on year, according to official statistics.

“But every time we get some of these discouraging inflation results… we do see the risk that they’ll need to take further action at some point,” she said.

—Lee Ying Shan

Shares in this European delivery company are set to double over the next 12 months, according to analysts from Goldman Sachs.

The U.S. investment bank describes the company as a “market leader” of sorts and expects it to benefit from a “more competitive landscape.”

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— Amala Balakrishner

Many stocks have become “a bit cheaper” and investors could get good returns, according to Ted Alexander, chief investment officer of BML Funds.

Alexander manages the BML Global Fund, which was launched only in September. The fund aims to invest in strong businesses that are undervalued by the market, without a bias toward growth or value stocks.

He named five discounted stocks to consider right now, including one he calls a “long-term winner.”

CNBC Pro subscribers can read more here.

— Weizhen Tan

Irrational behavior due to concerns over the stability of the U.S. banking system has made one wealth manager’s stock a cheap investment opportunity, according to value investor Daniel O’Keefe.

O’Keefe,…