{"id":64292,"date":"2023-07-03T17:14:43","date_gmt":"2023-07-03T07:14:43","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=64292"},"modified":"2025-11-11T18:04:53","modified_gmt":"2025-11-11T07:04:53","slug":"monday-3rd-july-2023-asia-pacific-markets-rise-despite-manufacturing-slowdown","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/monday-3rd-july-2023-asia-pacific-markets-rise-despite-manufacturing-slowdown\/","title":{"rendered":"Monday 3rd July 2023: Asia-Pacific Markets Rise Despite Manufacturing Slowdown"},"content":{"rendered":"\n

Global Markets:<\/strong><\/h3>\n\n\n\n

\u25cf         Asian Stock Markets : Nikkei up 1.62%, Shanghai Composite up 1.28%, Hang Seng up 1.98%, ASX up 0.58%<\/p>\n\n\n\n

\u25cf        Commodities : Gold at $1922.75 (-0.34%), Silver at $23.035 (+0.04%), Brent Oil at $75.12 (-0.33%), WTI Oil at $70.39 (-0.38%)<\/p>\n\n\n\n

\u25cf        Rates : US 10-year yield at 3.829, UK 10-year yield at 4.437, Germany 10-year yield at 2.383<\/p>\n\n\n\n

News & Data:<\/strong><\/h3>\n\n\n\n

\u25cf         (CNY) Caixin Manufacturing PMI 50.5% vs 50.0% expected<\/p>\n\n\n\n

\u25cf        (CAD) GDP m\/m 0.0% vs 0.2% expected<\/p>\n\n\n\n

\u25cf        (USD) Core PCE price Index m\/m 0.3% vs 0.3% expected<\/p>\n\n\n\n

\u25cf        (USD) Revised UoM Consumer Sentiment 64.4% vs 63.9% expected<\/p>\n\n\n\n

Markets Update:<\/strong><\/h3>\n\n\n\n

 Asia-Pacific markets experienced a positive trend as investors absorbed manufacturing activity reports signaling a slowdown in output across the region. China’s Caixin manufacturing purchasing managers index (PMI) for June exceeded expectations, coming in at 50.5, slightly higher than the projected 50.2 by a Reuters poll. However, China’s official government PMI recorded a third consecutive month of contraction.<\/p>\n\n\n\n

Mainland China’s markets showed gains, with the Shanghai Composite rising by 1.28% and the Shenzhen Component increasing by 1.98%. Hong Kong’s Hang Seng index also climbed 1.29%, while the Hang Seng Tech index saw a robust increase of over 2%. Leading the gains in the region, Japan’s Nikkei 225 surged by 1.62%, accompanied by a 1.62% rise in the Topix index. South Korea’s Kospi recorded a 1.39% increase, and the Kosdaq rose by 1.81%. Private surveys for both South Korea and Japan also indicated a slowdown in factory activity.<\/p>\n\n\n\n

In Australia, the S&P\/ASX 200 displayed a modest gain of 0.58%. Investors eagerly awaited the Reserve Bank of Australia’s rate decision, scheduled for Tuesday. Economists polled by Reuters anticipated a 25-basis-point increase, bringing the cash rate to 1.75%. This decision would shape the country’s economic landscape in the coming months.<\/p>\n\n\n\n

In commodities, the prices of gold, silver, and oil witnessed mixed movements. Gold prices experienced a slight decline of 0.34%, reaching $1922.75. On the other hand, silver prices saw a marginal increase of 0.04%, reaching $23.035. In the oil market, Brent Oil prices declined by 0.33%, settling at $75.12, while WTI Oil prices fell by 0.38% to reach $70.39.<\/p>\n\n\n\n

Upcoming Events:<\/strong><\/h3>\n\n\n\n

\u25cf        7:15 AM           GMT  –          EUR    Spanish Manufacturing PMI<\/p>\n\n\n\n

\u25cf        2:00 PM           GMT  –          USD   ISM Manufacturing PMI<\/p>\n\n\n\n

\u25cf        2:00 PM           GMT  –          USD   ISM Manufacturing Prices<\/p>\n","protected":false},"excerpt":{"rendered":"

Global Markets: \u25cf         Asian Stock Markets : Nikkei […]<\/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-64292","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\/64292","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=64292"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/64292\/revisions"}],"predecessor-version":[{"id":64293,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/64292\/revisions\/64293"}],"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=64292"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=64292"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=64292"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}