{"id":64879,"date":"2023-08-08T17:34:04","date_gmt":"2023-08-08T07:34:04","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=64879"},"modified":"2025-11-11T15:37:32","modified_gmt":"2025-11-11T04:37:32","slug":"tuesday-8th-aug-2023-asia-pacific-markets-react-to-unexpected-dip-in-chinas-trade-performance","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-8th-aug-2023-asia-pacific-markets-react-to-unexpected-dip-in-chinas-trade-performance\/","title":{"rendered":"Tuesday 8th Aug 2023: Asia-Pacific Markets React to Unexpected Dip in China&#8217;s Trade Performance"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.27%, Shanghai Composite down 0.25%, Hang Seng down 1.80%, ASX up 0.03%<\/li>\n\n\n\n<li>Commodities : Gold at $1967.85 (-0.12%), Silver at $23.21 (-0.07%), Brent Oil at $84.86 (-0.56%), WTI Oil at $81.49 (-0.54%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.014, UK 10-year yield at 4.415, Germany 10-year yield at 2.480<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Consumer Credit m\/m 17.8B vs 13.8B expected<\/li>\n\n\n\n<li>(GBP) BRC Retail Sales Monitor y\/y 1.8% vs 3.0% expected<\/li>\n\n\n\n<li>(JPY) Average Cash Earnings y\/y 2.3% vs 3.0% expected<\/li>\n\n\n\n<li>(JPY) House Spending y\/y -4.2% vs -3.9% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>On Tuesday, the Asia-Pacific markets displayed a mixture of outcomes due to China&#8217;s trade figures for July falling short of expectations. China experienced a 14.5% year-on-year decline in its exports, accompanied by a 12.4% drop in imports. Economists surveyed by Reuters had predicted a 12.5% decrease in exports and a 5% reduction in imports. In Hong Kong, the Hang Seng index slipped by 1.80%, while both the Shanghai Composite and Shenzhen Component indexes were trading near the neutral point.<\/p>\n\n\n\n<p>Japan&#8217;s Nikkei 225 index rose by 0.27%, extending its winning streak to three days and closing at 32,377.29. Meanwhile, the Topix index gained 0.34% and concluded at 2,291.73. This came as Japan&#8217;s household spending remained in negative territory for the fourth consecutive month. In June, household spending dropped by 4.2% year on year, compared to a 4% decline in May, as per official data.<\/p>\n\n\n\n<p>Australia&#8217;s S&amp;P\/ASX 200 index recorded a marginal climb, ending at 7,311.1. On the other hand, South Korea&#8217;s Kospi index dipped by 0.26%, marking its fifth consecutive day of losses. The Kosdaq index also slipped by 0.65% to 892.34.<\/p>\n\n\n\n<p>In the previous U.S. trading session, all three major indexes saw gains as investors continued to digest earnings results that surpassed expectations. About 85% of S&amp;P 500 stocks had reported their quarterly results, with nearly 80% of them surpassing Wall Street&#8217;s predictions, as per FactSet. The Dow, consisting of 30 stocks, surged by almost 1.2%, marking its best performance since June 15. Concurrently, the Nasdaq Composite increased by 0.6%, and the S&amp;P 500 closed with a 0.9% gain. Both the Nasdaq and the S&amp;P 500 broke their four-day streak of losses.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; CAD Trade Balance<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Trade Balance<\/li>\n\n\n\n<li>2:00 PM GMT &#8211; USD Final Wholesale Inventories m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: On Tuesday, the Asia-Pacific [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":79815,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[340,196,215,339],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/64879"}],"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=64879"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/64879\/revisions"}],"predecessor-version":[{"id":64887,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/64879\/revisions\/64887"}],"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=64879"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=64879"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=64879"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}