{"id":66149,"date":"2024-05-16T16:20:09","date_gmt":"2024-05-16T06:20:09","guid":{"rendered":"https:\/\/www.icmarkets-vnd.com\/blog\/?p=66149"},"modified":"2024-05-17T15:13:14","modified_gmt":"2024-05-17T05:13:14","slug":"thursday-16th-may-2024-asia-pacific-markets-rally-amid-record-wall-street-highs","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/thursday-16th-may-2024-asia-pacific-markets-rally-amid-record-wall-street-highs\/","title":{"rendered":"Thursday 16th May 2024: Asia-Pacific Markets Rally Amid Record Wall Street Highs"},"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 up 1.41%, Shanghai Composite up 0.31%, Hang Seng up 1.95% ASX up 1.65%<\/li>\n\n\n\n<li>Commodities : Gold at $2392.5 (0.15%), Silver at $29.78 (0.01%), Brent Oil at $82.97 (0.32%), WTI Oil at $78.92 (0.48%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.32, UK 10-year yield at 4.09, Germany 10-year yield at 2.40<\/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>(CAD) Housing Starts 240K vs 239K expected<\/li>\n\n\n\n<li>(USD) Core CPI m\/m 0.3% vs 0.3% expected<\/li>\n\n\n\n<li>(USD) Core Retail Sales m\/m 0.2% vs 0.2% expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>Markets across the Asia-Pacific region rallied on Thursday, buoyed by record highs on Wall Street driven by softer inflation data and scrutiny of Japan&#8217;s GDP figures. In the U.S., April&#8217;s consumer price index rose 0.3%, below Dow Jones&#8217; 0.4% forecast, with a year-on-year increase of 3.4%, in line with market expectations.<\/p>\n\n\n\n<p>Japan&#8217;s first-quarter GDP contracted by 2%, exceeding the anticipated 1.5% decline, possibly complicating the Bank of Japan&#8217;s interest rate plans. Despite this, Japan&#8217;s Nikkei 225 gained 1.4%, while the broader Topix index retreated 0.18% from earlier gains.<\/p>\n\n\n\n<p>Hong Kong&#8217;s Hang Seng index rose 1.97% following a holiday, and mainland China&#8217;s CSI 300 index edged up 0.1%. South Korea&#8217;s Kospi surged by 1%, with the Kosdaq adding 1.04%, resuming trading after a holiday break.<\/p>\n\n\n\n<p>In Australia, the S&amp;P\/ASX 200 index jumped 1.7%. The previous day, Wall Street&#8217;s main indexes closed at record highs on news of slower-than-expected CPI growth in April, with the Dow Jones Industrial Average rising 0.88%, the S&amp;P 500 up 1.17%, and the Nasdaq Composite climbing 1.40%.<\/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>12:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Building Permits<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Housing Starts<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Markets across the Asia-Pacific [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":65029,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[215,339,195],"tags":[],"class_list":["post-66149","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-analysis","category-recent-posts","category-technical-analysis"],"_links":{"self":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/66149","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=66149"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/66149\/revisions"}],"predecessor-version":[{"id":66152,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/66149\/revisions\/66152"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media\/65029"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media?parent=66149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=66149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=66149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}