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Asia-Pacific Markets React to China’s Data and US Inflation

China’s Data US Inflation

Asia-Pacific markets react to China’s economic data and US inflation, driving global stock indexes and commodities shifts.

Global markets faced significant shifts today as investors responded to key economic indicators from China and the United States.

Asian Stock Markets: Hong Kong’s Hang Seng experienced a sharp decline of 2.38%, leading to a broader downturn in the Asia-Pacific region. Japan’s Nikkei 225 fell by 0.61%, South Korea’s Kospi recorded a drop of 0.9%, and Australia’s S&P/ASX 200 index decreased by 0.56%.

Commodities: Gold prices increased by 0.38% to $1889.45, while silver rose by 1.05% to $22.18. Brent Oil increased by 0.88% to $86.78, and WTI Oil saw a 1.07% rise, reaching $83.80.

Rates: The US 10-year yield stood at 4.665%, the UK 10-year yield at 4.460%, and Germany’s 10-year yield was at 2.779%.

News & Data

In September, the US Core CPI increased by 0.3%, in line with predictions. The US PPI rose by 0.4%, exceeding the expected 0.3%. The US PPI showed a 3.7% increase yearly, slightly higher than the projected 3.6%. Additionally, US unemployment claims stood at 209K, slightly below the anticipated 211 K.

Asia-Pacific Markets React to China’s Data and US Inflation

Hong Kong stocks led the decline, dropping over 2%, triggered by investors’ reaction to China’s economic data. China’s consumer price index for September remained flat, missing analysts’ predicted 0.2% increase. China’s producer price index also saw a 2.5% drop, slightly higher than the projected 2.4%.

All three major stock indexes in the United States faced losses due to stronger-than-expected inflation data. The Dow Jones Industrial Average fell by 0.51%, closing at 33,631.14. The S&P 500 recorded a 0.62% drop, ending at 4,349.61, and the Nasdaq Composite saw a 0.63% decrease, closing at 13,574.22. The US consumer price index for September showed a 0.4% monthly increase and a year-on-year rise of 3.7%, following a robust producer price index reading for the same month.

In summary, Hong Kong and other Asian markets experienced declines in response to China’s economic data, while US markets faced losses driven by strong inflation figures. These events underscore the significant impact of economic indicators on global financial markets.

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