Asia-Pacific markets set to rise on cooler inflation print, ahead of Fed rate decision – CNBC

Morgan Stanley raises China 2023 GDP growth on reopeningMorgan Stanley raised its 2023 outlook for China’s economy in a note released Wednesday morning in Asia.”We lift our already above-consensus GDP growth forecast to 5.4%,” strategists and economists including its chief Asia economist Chetan Ahya said in the report. The firm had previously set its growth forecast for next year at 5%.”Investor positioning in China’s assets is still low and this recovery is not fully priced in equity and FX markets,” the note said, adding the revision reflects a rebound in activity predicted to come earlier than expected.”We had previously expected a rebound in activity to materialize from late 2Q23. Now we are projecting mobility to improve from early March,” it said.The report said further easing of restrictions will likely lead to a significant rise in Covid cases, though the firm says the impact of the surge will be short-lived.— Jihye LeeNew Zealand expects its economy to enter a recession in 2023The New Zealand Treasury is expecting the economy to enter a technical recession within 2023, according to its Half Year Economic and Fiscal Update report.The report predicted three consecutive quarters of contraction in 2023, slightly longer than a technical recession
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