This is the central bank’s third straight quarterly hike and the eighth rate hike this year. Inflation in Australia eased slightly in October to 6.9%, but is still well above the RBA’s target of 2% to 3%. — Charmaine Jacob

CNBC Pro: Morgan Stanley bullish on China stocks, giving them serious upside

Morgan Stanley has turned bullish on Chinese stocks for the first time in nearly two years as the country embarks on a “clean path to opening up”. “We see a steep climb from here after the extreme underperformance of the past two years,” the bank said, although it warned that the path to recovery “will be bumpy.” Morgan Stanley highlighted a list of names it said would benefit from the easing in China, including two it gave about 130% upside. CNBC Pro subscribers can read more here. — Weizhen Tan

Beijing announces further Covid easing measures

The city of Beijing has announced that negative Covid tests will no longer be required to enter most public spaces, shopping malls or residential areas, while bars and so-called KTV lounges or karaoke bars. Separately, Reuters reported on Monday that China could announce further easing of Covid restrictions as early as Wednesday, citing two sources with knowledge of the matter. The report said there would be 10 new measures in addition to the 20 introduced in November. Several cities in China have relaxed their Covid testing rules in recent days. — Evelyn Cheng, Abigail Ng

Apple supplier Foxconn, also known as Hon Hai Precision Industry, said its monthly revenue for November fell more than 11 percent compared to the same period last year. Revenue for the month came in at 551.1 billion New Taiwan dollars ($18 billion), down more than 29 percent from October. The Taiwanese company said the drop was because “production is gradually entering off-peak seasonality and a portion of shipments were affected by the outbreak in Zhengzhou,” where the company operates the world’s largest iPhone assembly plant. The company’s shares were down 1.48% in the Asian morning. Arjun Harpal Sun, Dec 4, 2022 8:32 pm EST

Chinese markets to halt trading for 3 minutes on Tuesday as nation mourns former leader

CNBC Pro: Analysts Think These November Winners Can Grow Further — And Give 2 Over 160% Upside

These global stocks had a winning November, outperforming the MSCI World index. CNBC Pro took a look at FactSet for stocks that not only did well last month, but could see even more upside ahead. Professional subscribers can read more here. — Zavier Ong

Australia expected to raise interest rates by 25 basis points: Reuters poll

Australia’s central bank is expected to raise its cash rate by 25 basis points to 3.1 percent on Tuesday, according to economists polled by Reuters. This would be the Reserve Bank of Australia’s eighth hike this year and the third consecutive 25 basis point increase since October. In a statement after its November meeting, the RBA said “the full effect” of the string of cash rate hikes was ahead. Meanwhile, Matt Simpson, senior market analyst at City Index, said there was a chance for a further pause in rate hikes. “The case for a pause is certainly being built,” he said. “Some measures of inflation expectations are moving lower and the monthly inflation print suggests that inflation has peaked.” Inflation in Australia remains well above the RBA’s target of between 2% and 3%, although it saw a slight easing in October, according to the central bank’s monthly consumer price index. — Charmaine Jacob

Stocks finish lower to start the week

Stocks fell on Monday as fears that the Federal Reserve will continue to raise interest rates. The Dow Jones industrial average fell 482.78 points, or 1.4%, to close at 33,947.10. The S&P 500 fell 1.79% to 3,998.84, while the Nasdaq Composite fell 1.93% to 11,239.94. — Samantha Subin