{"id":63220,"date":"2023-05-15T14:02:17","date_gmt":"2023-05-15T04:02:17","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=63220"},"modified":"2025-11-11T18:11:46","modified_gmt":"2025-11-11T07:11:46","slug":"thursday-18th-may-2023-advanced-asian-stocks-help-ease-fear-of-possible-us-debt","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/thursday-18th-may-2023-advanced-asian-stocks-help-ease-fear-of-possible-us-debt\/","title":{"rendered":"Thursday 18th May 2023: Advanced Asian stocks help ease fear of possible US debt\u00a0"},"content":{"rendered":"\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 1.60%, Shanghai Composite up 0.40%, Hang Seng up 0.74%, ASX up 0.52%<\/li>\n\n\n\n<li>Commodities : Gold at $1977.05 (-0.40%), Silver at $23.61 (-1.19%), Brent Oil at $76.58 (-0.49%), WTI Oil at $72.47 (-0.49%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.597, UK 10-year yield at 3.912, Germany 10-year yield at 2.394<\/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>(AUD) Unemployment Rate 3.70% vs 3.50% expected<\/li>\n\n\n\n<li>(AUD) Employment Change -4.3K vs 24.8K expected<\/li>\n\n\n\n<li>(AUD) Wage Price Index q\/q 0.80% vs 0.90% expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>Asian stocks advanced on Thursday after U.S. President Joe Biden and House Speaker Kevin McCarthy underscored their determination to reach a deal soon.This helped ease fears of a potential U.S. debt default as a June 1 deadline loomed.<\/p>\n\n\n\n<p>Chinese shares eked out modest gains, with the benchmark Shanghai Composite rising 0.40 percent to 3,297.32 after data showed the country&#8217;s fiscal revenue rose 11.9 percent in the first four months of 2023 from the year-ago period, up sharply from a 0.5 percent rise in January-March.<\/p>\n\n\n\n<p>Japanese shares rallied after Sony Group Corp said it is examining a partial spin-off of its financial business. Dovish signals from the Bank of Japan and data showing a bigger-than-expected drop in Japan&#8217;s massive trade deficit also boosted sentiment.<\/p>\n\n\n\n<p>Australian markets posted solid gains as weak jobs data spurred hopes that the Reserve Bank will pause future interest rate hikes to curb inflation.<\/p>\n\n\n\n<p>Oil prices held steady on Wednesday as comments from Fed officials lifted the dollar and investors awaited news on the U.S. debt ceiling negotiations.<\/p>\n\n\n\n<p>Gold prices fell on Wednesday, extending losses from the previous session, as the dollar gained against its major counterparts on rate hike bets.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>01:30 am GMT &#8211; (AUD) Employment Change<\/li>\n\n\n\n<li>01:30 am GMT &#8211; (AUD) Unemployment Rate<\/li>\n\n\n\n<li>02:00 am GMT &#8211; (NZD) Annual Budget Release<\/li>\n\n\n\n<li>07:45 am GMT &#8211; (GBP) MPC Member Pill Speaks<\/li>\n\n\n\n<li>09:15 am GMT &#8211; (GBP) Monetary Policy Report Hearings<\/li>\n\n\n\n<li>12:30 pm GMT &#8211; (CAD) NHPI m\/m<\/li>\n\n\n\n<li>12:30 pm GMT &#8211; (USD) Unemployment Claims<\/li>\n\n\n\n<li>12:30 pm GMT &#8211; (USD) Philly Fed Manufacturing Index<\/li>\n\n\n\n<li>01:05 pm GMT &#8211; (USD) FOMC Member Jefferson Speaks<\/li>\n\n\n\n<li>01:30 pm GMT &#8211; (USD) FOMC Member Barr Speaks<\/li>\n\n\n\n<li>02:00 pm GMT &#8211; (USD) Existing Home Sales<\/li>\n\n\n\n<li>02:00 pm GMT &#8211; (USD) CB Leading Index m\/m<\/li>\n\n\n\n<li>02:00 pm GMT &#8211; (USD) FOMC Member Logan Speaks<\/li>\n\n\n\n<li>Tentative &#8211; (CAD) BOC Financial System Review<\/li>\n\n\n\n<li>02:30 pm GMT &#8211; (USD) Natural Gas Storage<\/li>\n\n\n\n<li>03:00 pm GMT &#8211; (CAD) BOC Gov Macklem Speaks<\/li>\n\n\n\n<li>10:45 pm GMT &#8211; (NZD) Trade Balance<\/li>\n\n\n\n<li>11:01 pm GMT &#8211; (GBP) GfK Consumer Confidence<\/li>\n\n\n\n<li>11:30 pm GMT &#8211; (JPY) National Core CPI y\/y<\/li>\n\n\n\n<li>11:30 pm GMT &#8211; (USD) Prelim UoM Inflation Expectations<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asian stocks advanced on [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":71231,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[196,215,339],"tags":[],"class_list":["post-63220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/63220","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=63220"}],"version-history":[{"count":4,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/63220\/revisions"}],"predecessor-version":[{"id":63335,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/63220\/revisions\/63335"}],"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=63220"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=63220"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=63220"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}