{"id":67796,"date":"2024-10-11T18:37:50","date_gmt":"2024-10-11T07:37:50","guid":{"rendered":"https:\/\/www.icmarkets-vng.com\/blog\/?p=67796"},"modified":"2024-10-14T16:02:12","modified_gmt":"2024-10-14T05:02:12","slug":"friday-11th-october-2024-asian-markets-drop-as-china-leads-losses-amid-inflation-worries","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/friday-11th-october-2024-asian-markets-drop-as-china-leads-losses-amid-inflation-worries\/","title":{"rendered":"Friday 11th October 2024: Asian Markets Drop as China Leads Losses Amid Inflation Worries"},"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 0.42%, Shanghai Composite down 2.56%, Hang Seng up 2.98% ASX down 0.13%<\/li>\n\n\n\n<li>Commodities : Gold at $2659.35 (1.14%), Silver at $31.30 (2.04%), Brent Oil at $78.91 (2.66%), WTI Oil at $75.06 (2.52%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.078, UK 10-year yield at 4.2520, Germany 10-year yield at 2.259<\/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) Core CPI m\/m&nbsp; 0.3%&nbsp; vs 0.2% expected<\/li>\n\n\n\n<li>(USD) CPI m\/m&nbsp; 0.2%&nbsp; vs 0.1% expected<\/li>\n\n\n\n<li>(USD) CPI y\/y&nbsp; 2.4%&nbsp; vs 2.3% expected<\/li>\n\n\n\n<li>(USD) Unemployment Claims&nbsp; 258K&nbsp; vs 231K expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>China stocks led declines in Asia-Pacific markets on Friday, as Wall Street benchmarks fell overnight following a U.S. inflation report. Mainland China\u2019s CSI 300 index dropped 3.44% in afternoon trading, as the stimulus-driven rally lost momentum. Hong Kong markets were closed for a public holiday.<\/p>\n\n\n\n<p>China\u2019s Ministry of Finance will hold a press conference on Saturday, expected to announce a new fiscal stimulus package aimed at boosting the economy.<\/p>\n\n\n\n<p>Investors also reacted to the Bank of Korea&#8217;s decision to cut its benchmark interest rate by 25 basis points to 3.25%, marking the end of a multi-year tightening cycle. South Korea\u2019s inflation fell to 1.6% in September, below the central bank\u2019s 2% target.<\/p>\n\n\n\n<p>Oil prices retreated after rising more than 3% on Thursday amid concerns about Middle East tensions and increased fuel demand ahead of Hurricane Milton. Brent futures dipped 0.35% to $79.11 a barrel, while U.S. crude slipped 0.34% to $75.6 a barrel.<\/p>\n\n\n\n<p>Japan\u2019s Nikkei 225 gained 0.4%, supported by financial and healthcare sectors, while the broader Topix fell 0.24%. South Korea\u2019s Kospi and Kosdaq both closed slightly lower, and Australia\u2019s S&amp;P\/ASX 200 fell 0.1%.<\/p>\n\n\n\n<p>In the U.S., the S&amp;P 500 lost 0.21%, the Dow Jones dropped 0.14%, and the Nasdaq Composite dipped 0.05%. U.S. inflation rose 0.2% month-on-month, with annual inflation at 2.4%, slightly above forecasts, raising concerns about the Federal Reserve&#8217;s pace of future rate cuts.<\/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 Core PPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD PPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Unemployment Rate<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Employment Change<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: China stocks led declines [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":65034,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[207,339],"tags":[],"class_list":["post-67796","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis-101","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/67796","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=67796"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/67796\/revisions"}],"predecessor-version":[{"id":67800,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/67796\/revisions\/67800"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media\/65034"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media?parent=67796"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=67796"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=67796"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}