{"id":63982,"date":"2023-06-12T15:17:29","date_gmt":"2023-06-12T05:17:29","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=63982"},"modified":"2025-11-11T15:50:26","modified_gmt":"2025-11-11T04:50:26","slug":"monday-12th-june-2023-asian-markets-near-2-month-highs","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-12th-june-2023-asian-markets-near-2-month-highs\/","title":{"rendered":"Monday 12th June 2023: Asian markets near 2 month highs"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>Asian Stock Markets : Nikkei up 0.32%, Shanghai Composite down 0.28%, Hang Seng down 0.60%, ASX up 0.32%<\/li>\n\n\n\n<li>Commodities : Gold at $1971.20 (-0.30%), Silver at $24.19 (-0.89%), Brent Oil at $73.75 (-1.39%), WTI Oil at $69.19 (-1.40%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.750, UK 10-year yield at 4.283, Germany 10-year yield at 2.381<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) Unemployment Rate 5.20% vs 5.10% expected<\/li>\n\n\n\n<li>(CAD) Employment Change -17.3K vs 21.2K expected<\/li>\n\n\n\n<li>(CNY) PPI y\/y -4.60% vs -4.30% expected<\/li>\n\n\n\n<li>(CNY) CPI y\/y 0.20% vs 0.20% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>China\u2019s lackluster economic recovery since emerging from strict \u201czero-Covid\u201d lockdowns has caused weaker sentiment toward the country, prompting investors to look for alternative options \u2014 like its near neighbours. In particular, stock markets in Japan, South Korea and India have all been major beneficiaries of the disappointment from China\u2019s reopening, highlighted by softer-than-expected data from the world\u2019s second-largest economy.<\/p>\n\n\n\n<p>Japan\u2019s Nikkei 225 and TOPIX rose 0.7% each, hovering just below 33-year peaks as media reports suggested that the Bank of Japan will leave its ultra-loose policy unchanged later this week. Hong Kong\u2019s Hang Seng index also lost 0.5% on weakness in locally-listed mailand stocks. South Korea\u2019s KOSPI fell 0.5%, while India\u2019s Nifty 50 and BSE Sensex 30 indexes were flat in early trade. Markets were awaiting a reading on Indian consumer inflation due later in the day, after the Reserve Bank kept interest rates steady last week.<\/p>\n\n\n\n<p>Crude oil prices slumped again on Friday, extending losses from the previous session on concerns about the outlook for demand ahead of several key central bank meetings this week.<\/p>\n\n\n\n<h3>Upcoming Events:<\/h3>\n\n\n\n<p>Monday, June 12, 2023&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<ul>\n<li>12th-15th GMT &#8211; (CNY) New Loans<\/li>\n\n\n\n<li>05:01 PM GMT &#8211; (USD) 10-y Bond Auction<\/li>\n<\/ul>\n\n\n\n<p>Tuesday, June 13, 2023&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<ul>\n<li>01:30 AM GMT &#8211; (AUD) NAB Business Confidence<\/li>\n\n\n\n<li>06:00 AM GMT &#8211; (GBP) Claimant Count Change<\/li>\n\n\n\n<li>06:00 AM GMT &#8211; (GBP) Average Earnings Index 3m\/y<\/li>\n\n\n\n<li>09:00 AM GMT &#8211; (EUR) German ZEW Economic Sentiment<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; (USD) CPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; (USD) CPI y\/y<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; (USD) Core CPI m\/m<\/li>\n\n\n\n<li>02:00 PM GMT &#8211; (GBP) BOE Gov Bailey Speaks<\/li>\n<\/ul>\n\n\n\n<p>Wednesday, June 14, 2023&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<ul>\n<li>06:00 AM GMT &#8211; (GBP) GDP m\/m<\/li>\n\n\n\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>06:00 PM GMT &#8211; (USD) FOMC Economic Projections<\/li>\n\n\n\n<li>06:00 PM GMT &#8211; (USD) FOMC Statement<\/li>\n\n\n\n<li>06:00 PM GMT &#8211; (USD) Federal Funds Rate<\/li>\n\n\n\n<li>06:30 PM GMT &#8211; (USD) FOMC Press Conference<\/li>\n\n\n\n<li>10:45 PM GMT &#8211; (NZD) GDP q\/q<\/li>\n<\/ul>\n\n\n\n<p>Thursday, June 15, 2023&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<ul>\n<li>01:30 AM GMT &#8211; (AUD) Employment Change<\/li>\n\n\n\n<li>01:30 AM GMT &#8211; (AUD) Unemployment Rate<\/li>\n\n\n\n<li>02:00 AM GMT &#8211; (CNY) Industrial Production y\/y<\/li>\n\n\n\n<li>02:00 AM GMT &#8211; (CNY) Retail Sales y\/y<\/li>\n\n\n\n<li>12:15 PM GMT &#8211; (EUR) Main Refinancing Rate<\/li>\n\n\n\n<li>12:15 PM GMT &#8211; (EUR) Monetary Policy Statement<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; (USD) Core Retail Sales m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; (USD) Empire State Manufacturing Index<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; (USD) Retail Sales m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; (USD) Unemployment Claims<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; (USD) Philly Fed Manufacturing Index<\/li>\n\n\n\n<li>12:45 PM GMT &#8211; (EUR) ECB Press Conference<\/li>\n\n\n\n<li>01:15 PM GMT &#8211; (USD) Industrial Production m\/m<\/li>\n<\/ul>\n\n\n\n<p>Friday, June 16, 2023&nbsp;&nbsp;&nbsp;<\/p>\n\n\n\n<ul>\n<li>Tentative &#8211; (JPY) Monetary Policy Statement<\/li>\n\n\n\n<li>Tentative &#8211; (JPY) BOJ Policy Rate<\/li>\n\n\n\n<li>Tentative &#8211; (JPY) BOJ Press Conference<\/li>\n\n\n\n<li>11:45 AM GMT &#8211; (USD) FOMC Member Waller Speaks<\/li>\n\n\n\n<li>02:00 PM GMT &#8211; (USD) Prelim UoM Consumer Sentiment<\/li>\n\n\n\n<li>02:00 PM GMT &#8211; (USD) Prelim UoM Inflation Expectations<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: China\u2019s lackluster economic recovery [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":79815,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[196,215,339],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/63982"}],"collection":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/comments?post=63982"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/63982\/revisions"}],"predecessor-version":[{"id":63983,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/63982\/revisions\/63983"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media\/79815"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/media?parent=63982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=63982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=63982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}