{"id":64996,"date":"2023-08-16T17:41:59","date_gmt":"2023-08-16T07:41:59","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=64996"},"modified":"2025-11-11T15:36:42","modified_gmt":"2025-11-11T04:36:42","slug":"wednesday-16th-aug-2023-asia-pacific-markets-mirror-wall-streets-downturn-amid-bank-concerns","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-16th-aug-2023-asia-pacific-markets-mirror-wall-streets-downturn-amid-bank-concerns\/","title":{"rendered":"Wednesday 16th Aug 2023: Asia-Pacific Markets Mirror Wall Street&#8217;s Downturn Amid Bank Concerns"},"content":{"rendered":"\n<h3><br \/><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 1.39%, Shanghai Composite down 0.82%, Hang Seng down 1.36%, ASX down 1.50%<\/li>\n\n\n\n<li>Commodities : Gold at $1935.15 (0.03%), Silver at $22.72 (+0.31%), Brent Oil at $84.86 (-0.04%), WTI Oil at $80.94 (-0.06%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.193, UK 10-year yield at 4.658, Germany 10-year yield at 2.664<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) CPIm\/m&nbsp; 0.6% vs 0.3% expected<\/li>\n\n\n\n<li>(CAD) Median CPI y\/y&nbsp; 3.7% vs 3.7% expected<\/li>\n\n\n\n<li>(CAD) Trimmed CPI y\/y&nbsp; 3.6% vs 3.6% expected<\/li>\n\n\n\n<li>(USD) Core Retail Sales m\/m&nbsp; 1.0% vs 0.4% expected<\/li>\n\n\n\n<li>(USD) Retail Sales m\/m&nbsp; 0.7% vs 0.4% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>In the Asian market, Japan&#8217;s Nikkei 225 index faced a 1.39% decline, closing at 31,766. This marked the first time in over a month that the index dipped below the 32,000 mark. Simultaneously, the Topix index experienced a 1.29% decrease, finishing at 2,260.84. Despite the Reuters Tankan survey reporting an upswing in business sentiment for July, the negative trend persisted in these markets.<\/p>\n\n\n\n<p>South Korea&#8217;s Kospi index returned from a public holiday with a notable 1.76% drop, concluding at 2,525.64. The Kosdaq index also suffered a more significant loss of 2.59%, reaching its lowest point since July 11 at 878.29. Meanwhile, Australia&#8217;s S&amp;P\/ASX 200 index slipped by 1.5%, closing at 7,195. This marked the third occurrence of losses in four days for the Australian market.<\/p>\n\n\n\n<p>In other regions, Hong Kong&#8217;s Hang Seng index saw a 1.36% decline, and mainland Chinese markets followed suit with the CSI 300 index down by 0.35%. Notably, China&#8217;s house price index slipped into contraction territory for the first time since April, experiencing a 0.1% year-on-year drop. Overnight in the United States, all three major indexes recorded declines: the S&amp;P 500 fell by 1.16%, the Nasdaq Composite dropped 1.14%, and the Dow Jones Industrial Average slid by 1.02%, marking the end of a three-day positive streak.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; CAD Wholesale Sales m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Building Permits<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Trimmed CPI y\/y<\/li>\n\n\n\n<li>2:30 PM GMT &#8211; USD Crude Oil Inventories<\/li>\n\n\n\n<li>6:00 PM GMT &#8211; USD FOMC Meeting Minutes<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: In the Asian market, [&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\/64996"}],"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=64996"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/64996\/revisions"}],"predecessor-version":[{"id":65000,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/64996\/revisions\/65000"}],"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=64996"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=64996"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=64996"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}