{"id":68082,"date":"2024-11-07T16:54:21","date_gmt":"2024-11-07T05:54:21","guid":{"rendered":"https:\/\/www.icmarkets-vnh.com\/blog\/?p=68082"},"modified":"2024-11-07T16:54:22","modified_gmt":"2024-11-07T05:54:22","slug":"thursday-7th-november-2024-asia-pacific-markets-react-to-trumps-election-victory-with-mixed-results","status":"publish","type":"post","link":"https:\/\/www.icmarkets-vnk.com\/blog\/thursday-7th-november-2024-asia-pacific-markets-react-to-trumps-election-victory-with-mixed-results\/","title":{"rendered":"Thursday 7th November 2024: Asia-Pacific Markets React to Trump\u2019s Election Victory with Mixed Results"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><br \/>Global Markets:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.23%, Shanghai Composite up 0.88%, Hang Seng up 1.07% ASX up 0.16%<\/li>\n\n\n\n<li>Commodities : Gold at $2662.35 (-0.54%), Silver at $31.07 (-0.84%), Brent Oil at $75.34 (0.6%), WTI Oil at $72.03 (0.59%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.437, UK 10-year yield at 4.561, Germany 10-year yield at 2.392<\/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) Ivey PMI&nbsp; 52.0 vs 54.2 expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets were mixed on Thursday following Donald Trump\u2019s victory over Kamala Harris in the U.S. presidential election. NBC News projects Trump will win at least 291 Electoral College votes, securing crucial states like Pennsylvania, North Carolina, and Georgia. This development has led to varied reactions in regional markets, reflecting cautious optimism and uncertainty.<\/p>\n\n\n\n<p>In Japan, the Nikkei 225 reversed earlier gains, ending down 0.25%, while the broader Topix index rose 0.95%. The Japanese yen weakened to 154.7 against the dollar on Wednesday, its lowest level since July, before recovering slightly to 154.41. South Korea\u2019s Kospi also fell, slipping 0.19%, while the Kosdaq, a small-cap index, declined by 1.45%, indicating some investor concerns in the region.<\/p>\n\n\n\n<p>Hong Kong\u2019s Hang Seng index initially dropped but rebounded to close up 1%. Mainland China\u2019s CSI 300 also turned positive, gaining 0.5%. Earlier, Chinese and Hong Kong stocks had declined as Trump\u2019s victory looked increasingly probable. Chinese state media reported that the National People\u2019s Congress discussed raising local government debt, as lower revenues from land sales continue to strain local budgets, making additional funding crucial for public services.<\/p>\n\n\n\n<p>In the U.S., Trump\u2019s win led to record highs across major indices. The Dow Jones Industrial Average surged by 1,508.05 points, or 3.57%, to close at 43,729.93, marking the first time since November 2022 the index saw a single-day gain above 1,000 points. The S&amp;P 500 climbed 2.53% to a new high of 5,929.04, while the Nasdaq Composite rose 2.95% to close at a record 18,983.47.<\/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>12:00 PM GMT &#8211; GBP Official Bank Rate<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n\n\n\n<li>07:00 PM GMT &#8211; USD Federal Funds Rate<\/li>\n\n\n\n<li>07:00 PM GMT &#8211; USD FOMC Statement<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets were mixed [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":65030,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[215,339],"tags":[],"class_list":["post-68082","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\/68082","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=68082"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/68082\/revisions"}],"predecessor-version":[{"id":68085,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/posts\/68082\/revisions\/68085"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media\/65030"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/media?parent=68082"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/categories?post=68082"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets-vnk.com\/blog\/wp-json\/wp\/v2\/tags?post=68082"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}