{"id":65548,"date":"2023-09-12T16:39:24","date_gmt":"2023-09-12T06:39:24","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=65548"},"modified":"2025-11-11T15:27:47","modified_gmt":"2025-11-11T04:27:47","slug":"tuesday-12th-september-2023-asian-pacific-markets-ride-the-tech-wave","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-12th-september-2023-asian-pacific-markets-ride-the-tech-wave\/","title":{"rendered":"Tuesday 12th September 2023: Asian-Pacific Markets Ride the Tech Wave"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.97%, Shanghai Composite down 0.18%, Hang Seng down 0.13%, ASX up 0.20%<\/li>\n\n\n\n<li>Commodities : Gold at $1941.45 (-0.43%), Silver at $23.25 (-0.58%), Brent Oil at $90.86 (0.23%), WTI Oil at $87.59 (0.34%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.293, UK 10-year yield at 4.529, Germany 10-year yield at 2.635<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(NZD) Visitor Arrivals m\/m 19.8% vs 11.3% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p><\/p>\n\n\n\n<p>On Tuesday, most Asia-Pacific markets saw declines following a tech-driven surge on Wall Street, primarily led by Tesla and Qualcomm. Tesla&#8217;s stock rose by 10%, driven by an upgrade from Morgan Stanley and bullish predictions due to advancements in its autonomous software. Qualcomm&#8217;s shares also increased by nearly 4% after securing a deal to supply Apple with 5G modems until 2026. Investor sentiment received a boost from reports suggesting the Federal Reserve&#8217;s consensus not to raise interest rates at the next meeting.<\/p>\n\n\n\n<p>In Hong Kong, the Hang Seng index experienced slight losses, while real estate developer Country Garden Holdings&#8217; shares surged by up to 8.7% after creditors voted to extend repayments on six onshore bonds. Mainland Chinese stocks remained relatively stable, with the CSI 300 index holding just above the flat line.<\/p>\n\n\n\n<p>Australia&#8217;s S&amp;P\/ASX 200 index traded flat, with an improvement in the country&#8217;s business confidence survey for August, rising from +1 in July to +2. South Korea&#8217;s Kospi index slipped by 0.52%, and the Kosdaq was down by 0.97%.<\/p>\n\n\n\n<p>Japan&#8217;s markets had a more positive outlook, with the Nikkei 225 index up by 0.97%, and the Topix index gaining 0.36%. These gains reflected a broader trend of tech-driven optimism from Wall Street influencing Asian markets.<\/p>\n\n\n\n<p>Overnight in the United States, all three major indexes recorded gains, primarily driven by the tech sector. The Nasdaq Composite surged by 1.14%, the S&amp;P 500 gained 0.67%, and the Dow Jones Industrial Average rose by 0.25%, with support from an increase in Walt Disney shares. This tech rally in the U.S. seemed to set a positive tone for Asian markets, despite minor setbacks in some areas.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>9:00 AM GMT &#8211; EUR German ZEW Economic Sentiment<\/li>\n\n\n\n<li>9:00 AM GMT &#8211; EUR ZEW Economic Sentiment<\/li>\n\n\n\n<li>10:00 AM GMT &#8211; USD NFIB Small Business Index<\/li>\n\n\n\n<li>5:01 PM GMT &#8211; USD 10-y Bond Auction<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: On Tuesday, most 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":[196,215,339],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/65548"}],"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=65548"}],"version-history":[{"count":3,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/65548\/revisions"}],"predecessor-version":[{"id":65582,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/65548\/revisions\/65582"}],"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=65548"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=65548"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=65548"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}