{"id":64918,"date":"2024-02-01T17:50:41","date_gmt":"2024-02-01T06:50:41","guid":{"rendered":"https:\/\/www.icmarkets-vnc.com\/blog\/?p=64918"},"modified":"2024-02-01T17:50:42","modified_gmt":"2024-02-01T06:50:42","slug":"thursday-01st-february-2024-asian-markets-mixed-as-paytm-takes-a-dive","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/thursday-01st-february-2024-asian-markets-mixed-as-paytm-takes-a-dive\/","title":{"rendered":"Thursday 01st February 2024: Asian Markets Mixed as Paytm Takes a Dive"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.90%, Shanghai Composite down 0.59%, Hang Seng up 0.40% ASX up 1.20%<\/li>\n\n\n\n<li>Commodities : Gold at $2061.5 (-0.32%), Silver at $23.37 (-0.74%), Brent Oil at $80.65 (0.16%), WTI Oil at $76.07 (0.27%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.94, UK 10-year yield at 3.817, Germany 10-year yield at 2.164<\/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>(USD) ADP Non-Farm Employment Change 107k vs 148K expected<\/li>\n\n\n\n<li>(CAD) GDP m\/m 0.2% vs 0.1% expected<\/li>\n\n\n\n<li>(USD) Employment Cost Index q\/q 0.9% vs 1.0% expected<\/li>\n\n\n\n<li>(USD) Crude Oil Inventories 1.2M vs -0.8M expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>On Thursday, Hong Kong and Korea saw gains in share trading, while Japanese equity benchmarks underperformed. Paytm shares in Mumbai fell by the maximum limit of 20% following a directive from Indian financial authorities to stop new deposits from March.<\/p>\n\n\n\n<p>The Caixin China General Manufacturing Purchasing Managers&#8217; Index released on Thursday indicated a third consecutive month of factory activity expansion in January, in contrast to official data suggesting a fourth monthly contraction. Other private surveys for manufacturing activity in Asia (excluding China and Japan) hinted that the worst of the 2023 manufacturing slowdown might be over.<\/p>\n\n\n\n<p>Late on Wednesday, the U.S. Federal Reserve signaled its reluctance to cut rates in March. Fed Chair Jerome Powell expressed doubts about the committee&#8217;s confidence in the inflation trajectory by the March meeting to consider interest rate cuts.<\/p>\n\n\n\n<p>In the Asia-Pacific region, the S&amp;P\/ASX 200 in Australia closed down 1.2%, breaking an eight-day winning streak. Japan&#8217;s Nikkei 225 declined by 0.9%, the Topix slipped by 0.7%, South Korea&#8217;s Kospi climbed 1.5%, and the Kosdaq dropped by 0.8%. In Hong Kong, the Hang Seng index rose by 0.4%, and China&#8217;s CSI 300 rebounded by 0.8% from near five-year lows.<\/p>\n\n\n\n<p>In the U.S., after the Fed announcement, all three major indexes experienced losses. The Nasdaq Composite led the decline, falling by 2.23%, while the broad-market S&amp;P 500 dropped by 1.61%, and the Dow Jones Industrial Average fell by 0.82%.<\/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>1:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD Prelim Nonfarm Productivity q\/q<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD Prelim Unit Labor Costs q\/q<\/li>\n\n\n\n<li>2:30 PM GMT &#8211; CAD Manufacturing PMI<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: On Thursday, Hong Kong [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":63948,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[215,339],"tags":[],"class_list":["post-64918","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/64918","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=64918"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/64918\/revisions"}],"predecessor-version":[{"id":64928,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/64918\/revisions\/64928"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media\/63948"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media?parent=64918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=64918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=64918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}