{"id":64709,"date":"2023-07-31T17:29:01","date_gmt":"2023-07-31T07:29:01","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=64709"},"modified":"2025-11-11T15:40:35","modified_gmt":"2025-11-11T04:40:35","slug":"monday-31st-july-2023-asia-pacific-markets-rise-despite-lingering-contraction-in-chinese-factory-activity","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-31st-july-2023-asia-pacific-markets-rise-despite-lingering-contraction-in-chinese-factory-activity\/","title":{"rendered":"Monday 31st July 2023: Asia-Pacific Markets Rise Despite Lingering Contraction in Chinese Factory Activity"},"content":{"rendered":"\n<h3><br \/><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 1.34%, Shanghai Composite up 0.46%, Hang Seng up 1.19%, ASX up 0.09%<\/li>\n\n\n\n<li>Commodities : Gold at $1992.80 (-0.37%), Silver at $24.36 (-0.53%), Brent Oil at $84.22 (-0.23%), WTI Oil at $80.48 (-0.15%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.002, UK 10-year yield at 4.389, Germany 10-year yield at 2.489<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Core PCE Price Index m\/m 0.2% vs 0.2% expected<\/li>\n\n\n\n<li>(USD) Employment Cost Index q\/q 1.0% vs 1.1% expected<\/li>\n\n\n\n<li>(CAD) GDP m\/m 0.3% vs 0.3% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets rose on Monday despite China&#8217;s factory activity remaining in contraction territory for the fourth consecutive month. The official manufacturing Purchasing Managers&#8217; Index (PMI) for July was reported at 49.3, slightly higher than June&#8217;s figure of 49.0, according to the national bureau of statistics. However, the PMI for non-manufacturing activity showed a slower rate of expansion, coming in at 51.5 compared to 53.2 in June.<\/p>\n\n\n\n<p>Meanwhile, in the Japanese market, the Nikkei 225 recorded a gain of 1.34%, closing at 33,172, and the broader Topix index saw a more substantial rise of 1.39%, reaching a new 33-year record at 2,322.56. However, the country&#8217;s industrial output for June fell short of expectations, growing by 2% month on month, below the economists&#8217; projected 2.4% growth.<\/p>\n\n\n\n<p>Hong Kong&#8217;s Hang Seng index rose 1.19%, and the Hang Seng Tech index saw a more significant increase of 2.77%, approaching the 20,000 mark for the first time in over a month. Mainland Chinese markets also showed gains, with the Shanghai Composite rising by 0.39% and the Shenzhen Component increasing by 0.63%, though they pared earlier gains.<\/p>\n\n\n\n<p>In South Korea, the Kospi advanced 0.93%, ending at 2,632.58, and extended its third consecutive day of gains. Additionally, the Kosdaq climbed 2.25%, closing near its 16-month high at 935.97.<\/p>\n\n\n\n<p>Australia&#8217;s S&amp;P\/ASX 200 experienced a marginal climb, closing at 7,410.4, as investors prepared for the Reserve Bank of Australia&#8217;s rate decision. Economists polled by Reuters were expecting a 25 basis points hike in its benchmark policy rate to 4.35%.<\/p>\n\n\n\n<p>Meanwhile, in the United States on Friday, all three major indexes posted gains as the June data for the personal consumption expenditures price index showed easing inflation. Core PCE increased by 0.2% month-over-month, and core PCE rose 4.1% from the year-ago period, slightly lower than the anticipated 4.2%. The Dow rose 0.5%, the S&amp;P 500 added to its value, and the Nasdaq Composite advanced by 1.90%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>9:00 AM GMT &#8211; EUR CPI Flash Estimate y\/y<\/li>\n\n\n\n<li>9:00 AM GMT &#8211; EUR Core CPI Flash Estimate y\/y<\/li>\n\n\n\n<li>9:00 AM GMT &#8211; EUR Italian Prelim CPI m\/m<\/li>\n\n\n\n<li>9:00 AM GMT &#8211; EUR Prelim Flash GDP q\/q<\/li>\n\n\n\n<li>1:45 PM GMT &#8211; USD Chicago PMI<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets rose on [&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\/64709"}],"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=64709"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/64709\/revisions"}],"predecessor-version":[{"id":64721,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/64709\/revisions\/64721"}],"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=64709"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=64709"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=64709"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}