{"id":64359,"date":"2023-07-06T18:43:40","date_gmt":"2023-07-06T08:43:40","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=64359"},"modified":"2025-11-11T15:45:45","modified_gmt":"2025-11-11T04:45:45","slug":"thursday-6th-july-2023-asia-pacific-markets-suffer-sharp-losses-as-fed-divisions-amplify-volatility","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/thursday-6th-july-2023-asia-pacific-markets-suffer-sharp-losses-as-fed-divisions-amplify-volatility\/","title":{"rendered":"Thursday 6th July 2023: Asia-Pacific Markets Suffer Sharp Losses as Fed Divisions Amplify Volatility"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down -1.70%, Shanghai Composite down 0.53%, Hang Seng down 3.01%, ASX down 1.25%<\/li>\n\n\n\n<li>Commodities : Gold at $1927.05 (-0.24%), Silver at $23.002 (-0.71%), Brent Oil at $76.53 (-0.1%), WTI Oil at $71.81 (+0.06%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.962, UK 10-year yield at 4.597, Germany 10-year yield at 2.518<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;(AUD) Trade Balance 11.79B vs 10.85B expected&nbsp;<\/li>\n\n\n\n<li>(USD) Factory Orders m\/m 0.3% vs 0.7% expected<\/li>\n\n\n\n<li>(USD) Wards Total Vehicle Sales 15.7M vs 15.3M expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets saw significant losses in line with the latest market data. The minutes released by the U.S. Federal Reserve, revealing a division over the decision to pause rate hikes in June, had a notable impact. While the central bank foresees further hikes in the future but at a slower pace, the temporary pause aims to assess the effects of the most aggressive tightening measures since the early 1980s.<\/p>\n\n\n\n<p>In Asian markets, Hong Kong&#8217;s Hang Seng index led the regional downturn, experiencing a decline of approximately 3% during the final hour of trading. In mainland China, the Shanghai Composite closed at 3,205.57, down by 0.54%, and the Shenzhen Component reached 10,968.37, representing a loss of 0.55%.<\/p>\n\n\n\n<p>In Japan, the Nikkei 225 fell by 1.7% to reach 32,773.02, and the Topix experienced a decline of 1.3%, closing at 2,277.08. South Korea&#8217;s Kospi dropped to 2,556.28, down by 0.88%, while the Kosdaq fell by 2.32% to 870.52. Australia&#8217;s S&amp;P\/ASX 200 concluded its session at 7,161.1, sliding by 1.27%. In Southeast Asia, Malaysia&#8217;s central bank is expected to maintain its overnight policy rate at 3%, according to a Reuters poll.<\/p>\n\n\n\n<p>Alongside the market fluctuations, there were notable movements in commodities. Gold prices dipped by 0.24% to $1927.05, while silver prices fell 0.71% to $23.002. Brent Oil saw a slight decrease of 0.1%, settling at $76.53, while WTI Oil experienced a minor increase of 0.06% to reach $71.81. These shifts in commodity prices contribute to the broader dynamics of the Asia-Pacific markets affected by the divided stance of the U.S. Federal Reserve on rate hikes and its potential implications.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>All Day \u2013 OPEC Meeting<\/li>\n\n\n\n<li>12:15 PM GMT &#8211; USD ADP Non-Farm Employment Change<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n\n\n\n<li>2:00 PM GMT &#8211; USD ISM Services PMI<\/li>\n\n\n\n<li>2:00 PM GMT &#8211; USD JOLTS Job Openings<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets saw significant [&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\/64359"}],"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=64359"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/64359\/revisions"}],"predecessor-version":[{"id":64362,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/64359\/revisions\/64362"}],"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=64359"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=64359"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=64359"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}