{"id":65374,"date":"2023-08-30T17:44:58","date_gmt":"2023-08-30T07:44:58","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=65374"},"modified":"2025-11-11T15:34:28","modified_gmt":"2025-11-11T04:34:28","slug":"wednesday-30th-august-2023-asia-pacific-markets-rise-amid-tech-rally-and-inflation-insights","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-30th-august-2023-asia-pacific-markets-rise-amid-tech-rally-and-inflation-insights\/","title":{"rendered":"Wednesday 30th August 2023: Asia-Pacific Markets Rise Amid Tech Rally and Inflation Insights"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.38%, Shanghai Composite up 0.04%, Hang Seng down 0.11%, ASX up 1.21%<\/li>\n\n\n\n<li>Commodities : Gold at $1962.80 (-0.23%), Silver at $24.61 (-0.72%), Brent Oil at $85.25 (0.42%), WTI Oil at $81.55 (0.49%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.151, UK 10-year yield at 4.485, Germany 10-year yield at 2.555<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) CB Consumer Confidence 106.1 vs 116.1 expected<\/li>\n\n\n\n<li>(USD) Unemployment Rate 8.83M vs 9,49M expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets are following the upward trends observed on Wall Street. Notably, Nvidia-powered technology stocks led a rally in the U.S. on Tuesday.<\/p>\n\n\n\n<p>A key point of interest for investors is Australia&#8217;s July inflation data. This data will significantly influence the Reserve Bank of Australia&#8217;s monetary policy decision on September 5th. In July, inflation rose by 4.9%, showing a milder increase compared to June&#8217;s 5.4%.<\/p>\n\n\n\n<p>Regional market movements were noteworthy. Australia&#8217;s S&amp;P\/ASX 200 index surged 1.21%, reaching its highest point since August 15th at 7,297.7 points. Japan&#8217;s Nikkei 225 index extended its three-day gains, rising 0.38% to close at 32,333.46. The Topix index followed suit, increasing by 0.43% to finish at 2,313.38.<\/p>\n\n\n\n<p>In South Korea, the Kospi index advanced by 0.35%, closing at 2,561.22. The Kosdaq index also performed well, ending with a rise of 0.83% at 923.81, its highest since August 1st. Hong Kong&#8217;s Hang Seng index down by 0.11%, while mainland China&#8217;s benchmark CSI 300 index gained 0.43%.<\/p>\n\n\n\n<p>Overnight in the U.S., all major stock indexes displayed gains. The Nasdaq Composite stood out with over a 1% surge, particularly due to renewed interest in technology stocks. The Nasdaq index itself grew substantially by 1.74%, the S&amp;P 500 index climbed 1.45% &#8211; its best performance since June 2nd, and the Dow Jones Industrial Average rose by 0.85%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\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 Prelim GDP q\/q<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Prelim GDP Price Index q\/q<\/li>\n\n\n\n<li>2:00 PM GMT &#8211; USD Pending Home Sales m\/m<\/li>\n\n\n\n<li>2:30 PM GMT &#8211; USD Crude Oil Inventories<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets are following [&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\/65374"}],"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=65374"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/65374\/revisions"}],"predecessor-version":[{"id":65382,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/65374\/revisions\/65382"}],"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=65374"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=65374"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=65374"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}