Hong Kong stocks rise as authorities pledge support for real estate industryIMF calls latest Bank of Japan move ‘sensible’The International Monetary Fund voiced support for the Bank of Japan’s latest decision to widen its band of yield curve control tolerance.”With uncertainty around the inflation outlook, the Bank of Japan’s adjustment of yield curve control settings is a sensible step including given concerns about bond market functioning,” Ranil Salgado, the mission chief to Japan at the IMF, said. Salgado added clearer communications around modifications of the central bank’s monetary policy could improve the BOJ’s credibility and “help anchor market expectations,” he said. but investors need not stay on the sidelines. “Boring. That’s the key,” he said. The alternative is you pull the money out of the market, you put it in cash till the market comes back. So, this is a way for you to safely still be in the market in more defensive names while still being able to participate in the market if it rises.”He named six big-cap stocks that investors can take shelter in. Pro subscribers can read more here. to a year ago, marking the slowest growth since April 2021 and seeing the fifth consecutive month of declines.Compared to a month ago, the index fell 0.2%, driven by a decline in agricultural product prices. The producer price index is a measure of what companies get for their products in the pipeline. —Lee Ying ShanConsumer confidence beats expectationsThe Conference Board’s consumer confidence index jumped to 108.3 in December from 101.4 in November, topping a StreetAccount consensus estimate of 100.5. The number was also the index’s highest since April. “Inflation expectations retreated in December to their lowest level since September 2021, with recent declines in gas prices a major impetus. Vacation intentions improved but plans to purchase homes and big-ticket appliances cooled further,” Lynn Franco, senior director of economic indicators at The Conference Board, said in a statement, “This shift in consumers’ preference from big-ticket items to services will continue in 2023, as will headwinds from inflation and interest rate hikes,” Franco added.— Fred ImbertStocks jump for a second dayStocks rose for a second day on Wednesday following upbeat earnings results from Nike and FedEx. The Dow Jones Industrial Average gained 526.74 points, or 1.6%, to finish at 33,376.48. The S&P 500 surged 1.49% to settle at 3,878.44, while the Nasdaq Composite jumped 1.54% to end at 10,709.37. — Samantha Subin