Market News

Asian Markets Rebound: What You Need to Know

Asian markets rebound

Asian markets rebound despite Wall Street tech decline, highlighting global rates, commodities, and upcoming events.

Global Markets

  • Asian Stock Markets: The Nikkei rose by 0.06%, the Shanghai Composite declined by 0.07%, Hang Seng surged by 1.76%, and ASX saw a slight uptick of 0.12%.
  • Commodities: Gold prices dipped to $2137.5 (-0.34%), Silver stood at $23.97 (-0.09%), Brent Oil was at $82.25 (0.26%), and WTI Oil stood at $78.57 (0.26%).
  • Rates: The U.S. 10-year yield is 4.152, the U.K. 10-year yield is 4.041, and the Germany 10-year yield is 2.318.

News & Data

  • (USD) ISM Services PMI reported 52.6 versus the expected 53.0.

Asian Markets Rebound: What You Need to Know

Markets Update

Asia-Pacific markets exhibited resilience on Wednesday despite initial setbacks, witnessing a rebound. Hong Kong’s Hang Seng index notably led the surge with a robust increase of over 1.5%. However, mainland Chinese stocks, reflected in the CSI 300, experienced a 0.6% decline. This turnaround follows a downturn in Wall Street’s tech sector, triggered by Apple’s nearly 3% drop in U.S. trading, attributed to a report revealing a plunge in iPhone sales in China.

The Taiwan-weighted index continued its upward trajectory, gaining 0.63%, with Taiwan Semiconductor Manufacturing Company shares trading near the flatline. In South Korea, Samsung Electronics witnessed a 1.22% decrease, contributing to a 0.44% slide in the broader Kospi, while the small-cap Kosdaq rose by 0.49%. China’s CSI 300 index reached over three-month highs on Tuesday following the announcement during the country’s “Two Sessions” meeting that it would set its 2024 economic growth target at “around 5%.”

Japan’s Nikkei 225 observed a marginal dip, while the Topix edged 0.27% higher. The S&P/ASX 200 gained marginally in Australia, closing at 7,730.9, despite the economy surpassing expectations in the fourth quarter. In the U.S., stocks witnessed a second consecutive session of decline on Tuesday, primarily driven by significant drops in prominent tech names, including Apple. The Nasdaq Composite fell 1.65%, with the Dow Jones Industrial Average and the S&P 500 losing 1.04% and 1.02%, respectively, as they retreated from record high levels.

Upcoming Events

  • 1:15 PM GMT – USD ADP Non-Farm Employment Change
  • 1:30 PM GMT – CAD Labor Productivity q/q
  • 2:45 PM GMT – CAD BOC Rate Statement
  • 2:45 PM GMT – CAD Overnight Rate
  • 3:30 PM GMT – CAD Crude Oil Inventories
  • 3:30 PM GMT – CAD Ivey PMI
  • 3:30 PM GMT – USD Fed Chair Powell Testifies

Stay Updated with the Latest Market News. Visit our YouTube Channel for the Latest Forex Analysis.

Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Our Newsletter

Subscribe to ForexPropNews Trading Newsletters

Receive the best-curated content by our editors for the week ahead.

Mini Charts

Related Articles

US Economic Resilience Boosts Dollar: Unemployment Claims Surprise Markets

US unemployment claims fall below forecasts, indicating labor market resilience; robust data...

Market Focus: Analyzing Gold, EUR/USD, and USD/JPY Trends

Gold dropped, EUR/USD declined, and USD/JPY rose, prompting scrutiny of technical indicators...

Gold Surges to New Record High Amid Market Turbulence

Gold reached a new record high, driven by safe-haven trades following the...

Fed’s Barr and Jefferson: High Interest Rates Here to Stay

Federal Reserve Governor Michael Barr reiterated interest rates will stay high until...

Featured educational content

EXPLORE MORE

Featured educational content

New to Forex? Learn to Read Charts Like a Pro

Dive into forex trading basics: chart reading, candlesticks, technical indicators, timeframes, currency pairs. Start your journey to trading success today!

Video: How I Re-Programmed My Mind to be a Consistent Trader (Thanks to The Wolf of Wall Street)

How I Re-Programmed My Mind to be a Killer Trader (Thanks to The Wolf of Wall Street)

Video: This Invisible Trading Indicator Tells you What Day Trade (Not Just Price)

This Invisible Trading Indicator Tells you WHEN to Trade (Not Just Where)

Technical Analysis: Chart Patterns and Indicators for Profitable Investments

Navigate stocks with confidence using chart patterns like Head and Shoulders, indicators such as MACD, and tools like trendlines. Master technical analysis for...

Latest News

US Economic Resilience Boosts Dollar: Unemployment Claims Surprise Markets
Market News

US Economic Resilience Boosts Dollar: Unemployment Claims Surprise Markets

US unemployment claims fall below forecasts, indicating labor market resilience; robust data strengthens the dollar and impacts global currencies and commodities.

Market Focus: Analyzing Gold, EUR/USD, and USD/JPY Trends
Market News

Market Focus: Analyzing Gold, EUR/USD, and USD/JPY Trends

Gold dropped, EUR/USD declined, and USD/JPY rose, prompting scrutiny of technical indicators for future trends.

Copyright © 2023 Forex Prop News. All Rights Reserved.