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China Post-Holiday Surge: CSI 300 Climbs, Diplomatic Talks in Focus

China Post-Holiday Surge
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Discover how the China post-holiday surge impacts global markets, with the CSI 300 climbing and diplomatic talks in focus. Get insights into Asian market movements and the implications for investors.

Global Markets

  • Asian Stock Markets: Nikkei down 0.08%, Shanghai Composite up 0.99%, Hang Seng down 0.94%, ASX up 0.09%
  • Commodities: Gold at $2032.5 (0.42%), Silver at $23.17 (-1.24%), Brent Oil at $82.85 (-0.76%), WTI Oil at $77.87 (-0.78%)
  • Rates: U.S. 10-year yield at 4.290, U.K. 10-year yield at 4.144, Germany 10-year yield at 2.394

News & Data

  • (USD) Core PPI m/m 0.5% vs. 0.1% expected
  • (USD) PPI m/m 0.3% vs. 0.1% expected

China Post-Holiday Surge: CSI 300 Climbs, Diplomatic Talks in Focus

Markets Update

Asian stock markets rallied today as traders returned from the Lunar New Year holidays, with significant movements observed across various indices.

Chinese markets experienced a notable surge, with the CSI 300 rising by 0.5%. Consumer spending during the holiday period surpassed pre-Covid levels, particularly benefiting tourism stocks, which gained 1.2%. The People’s Bank of China maintained a steady key policy rate of 2.5%. Additionally, diplomatic discussions between China’s Foreign Minister Wang Yi and U.S. Secretary of State Antony Blinken underscored the importance of the U.S. lifting restrictions on Chinese entities and individuals.

In contrast, Hong Kong’s Hang Seng index faced a downturn, declining by 1%, and the Hang Seng Tech index dropped by 2.7%. Japan’s Nikkei 225 experienced a slight decrease of 0.08%, while the broader Topix index increased by 0.5%. South Korea’s Kospi recorded a significant gain of 1.3%, and Australia’s S&P/ASX 200 closed 0.1% higher at 7,665.10. Meanwhile, U.S. markets remained closed in observance of the Presidents’ Day holiday.

Wall Street declined on Friday following an alarming inflation report, which raised concerns about potential delays in interest rate adjustments by the Federal Reserve. The S&P 500 fell by 0.48%, the Dow Jones Industrial Average slid 0.37%, and the Nasdaq Composite lost 0.82%.

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