{"id":61421,"date":"2023-03-06T18:07:43","date_gmt":"2023-03-06T07:07:43","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=61421"},"modified":"2025-11-11T18:24:56","modified_gmt":"2025-11-11T07:24:56","slug":"monday-6th-march-2023-asia-pacific-equities-mixed-as-investors-assess-chinas-growth-target-and-await-economic-data","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/monday-6th-march-2023-asia-pacific-equities-mixed-as-investors-assess-chinas-growth-target-and-await-economic-data\/","title":{"rendered":"Monday 6th March 2023: Asia-Pacific Equities Mixed as Investors Assess China&#8217;s Growth Target and Await Economic Data"},"content":{"rendered":"\n<p> <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Global Markets:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Asian Stock Markets : Nikkei up 1.11%, Shanghai Composite down 0.23%, Hang Seng up 0.48%, ASX up 0.62%<\/li>\n\n\n\n<li>Commodities : Gold at $1859.25 (+0.25%), Silver at $21.33 (+0.42%), Brent Oil at $85.20 (-0.73%), WTI Oil at $79.13 (-0.69%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.940, UK 10-year yield at 3.885, Germany 10-year yield at 2.661<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">News &amp; Data:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>(NZD) ANZ Commodity Prices m\/m 1.30% vs -0.90% previous<\/li>\n\n\n\n<li>(AUD) MI Inflation Gauge m\/m 0.40% vs 0.90% previous<\/li>\n\n\n\n<li>(USD) ISM Services PMI 55.1 vs 54.5 expected<\/li>\n\n\n\n<li>(USD) Final Services PMI 50.6 vs 50.5 expected<\/li>\n\n\n\n<li>(CAD) Labor Productivity q\/q -0.50% vs 0.20% expected<\/li>\n\n\n\n<li>(CAD) Building Permits m\/m -4.00% vs 1.70% expected<\/li>\n\n\n\n<li>(EUR) PPI m\/m -2.80% vs -0.30% expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific equities traded with mixed results on Monday as investors continue to analyze China&#8217;s growth target set during its parliamentary sessions and await a week&#8217;s worth of economic data. Bond markets remain on edge in anticipation of an update on the US rate outlook from the world&#8217;s most influential central banker, and a jobs report that could influence whether the next hike will need to be substantial.<\/p>\n\n\n\n<p>The technology-heavy bourses fared well, following a strong lead-in from Wall Street indexes. The Taiwan Weighted index surged by 1.2%, while South Korea&#8217;s KOSPI added 1%. The Nikkei 225 index in Japan also climbed by 1.2%, with markets speculating that the Bank of Japan will retain its ultra-loose policy in the short term. On the other hand, China&#8217;s Shanghai Shenzhen CSI 300 index declined by 0.6%, while the Shanghai Composite index shed 0.3% after government officials set a 5% economic growth target for 2023 over the weekend.<\/p>\n\n\n\n<p>The 10-year Treasuries&#8217; yields remained at 3.94% after buyers found the last week&#8217;s spike to 4.09% attractive enough to invest in. Oil prices dipped, potentially due to investor disappointment that China did not establish more ambitious growth targets.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Upcoming Events:<\/h3>\n\n\n\n<p>Monday, March 06, 2023&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>07:30 AM GMT &#8211; (CHF) CPI m\/m<\/li>\n\n\n\n<li>03:00 PM GMT &#8211; (CAD) Ivey PMI<\/li>\n<\/ul>\n\n\n\n<p>Tuesday, March 07, 2023&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>03:30 AM GMT &#8211; (AUD) Cash Rate<\/li>\n\n\n\n<li>03:30 AM GMT &#8211; (AUD) RBA Rate Statement<\/li>\n\n\n\n<li>03:00 PM GMT &#8211; (USD) Fed Chair Powell Testifies<\/li>\n\n\n\n<li>06:30 PM GMT &#8211; (CHF) SNB Chairman Jordan Speaks<\/li>\n\n\n\n<li>09:55 PM GMT &#8211; (AUD) RBA Gov Lowe Speaks<\/li>\n<\/ul>\n\n\n\n<p>Wednesday, March 08, 2023&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>10:00 AM GMT &#8211; (EUR) ECB President Lagarde Speaks<\/li>\n\n\n\n<li>01:15 PM GMT &#8211; (USD) ADP Non-Farm Employment Change<\/li>\n\n\n\n<li>03:00 PM GMT &#8211; (CAD) BOC Rate Statement<\/li>\n\n\n\n<li>03:00 PM GMT &#8211; (CAD) Overnight Rate<\/li>\n\n\n\n<li>03:00 PM GMT &#8211; (USD) Fed Chair Powell Testifies<\/li>\n\n\n\n<li>03:00 PM GMT &#8211; (USD) JOLTS Job Openings<\/li>\n\n\n\n<li>06:01 PM GMT &#8211; (USD) 10-y Bond Auction<\/li>\n<\/ul>\n\n\n\n<p>Thursday, March 09, 2023&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>01:30 PM GMT &#8211; (USD) Unemployment Claims<\/li>\n<\/ul>\n\n\n\n<p>Friday, March 10, 2023&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>Tentative &#8211; (JPY) Monetary Policy Statement<\/li>\n\n\n\n<li>Tentative &#8211; (JPY) BOJ Press Conference<\/li>\n\n\n\n<li>07:00 AM GMT &#8211; (GBP) GDP m\/m<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; (CAD) Employment Change<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; (CAD) Unemployment Rate<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; (USD) Average Hourly Earnings m\/m<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; (USD) Non-Farm Employment Change<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; (USD) Unemployment Rate<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific equities traded with [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":71231,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[196,215],"tags":[],"class_list":["post-61421","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis"],"_links":{"self":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/61421","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/comments?post=61421"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/61421\/revisions"}],"predecessor-version":[{"id":61422,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/61421\/revisions\/61422"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media\/71231"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media?parent=61421"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=61421"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=61421"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}