{"id":65833,"date":"2023-09-29T18:43:32","date_gmt":"2023-09-29T08:43:32","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=65833"},"modified":"2025-11-11T15:24:26","modified_gmt":"2025-11-11T04:24:26","slug":"friday-29th-september-2023-asia-pacific-markets-rally-tokyos-inflation-softens-and-u-s-stocks-surge","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-29th-september-2023-asia-pacific-markets-rally-tokyos-inflation-softens-and-u-s-stocks-surge\/","title":{"rendered":"Friday 29th September 2023: Asia-Pacific Markets Rally, Tokyo&#8217;s Inflation Softens, and U.S. Stocks Surge"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.03, Shanghai Composite Closed, Hang Seng up 2.71%, ASX up 0.34%<\/li>\n\n\n\n<li>Commodities : Gold at $1888.65 (0.55%), Silver at $22.29 (2.31%), Brent Oil at $93.13 (0.07%), WTI Oil at $91.94 (+0.26%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.542, UK 10-year yield at 4.480, Germany 10-year yield at 2.855<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Final GDP q\/q 2.1% vs 2.2% expected<\/li>\n\n\n\n<li>(USD) Unemployment Claims 204K vs 214K expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets closed the week on a positive note, led by Hong Kong&#8217;s Hang Seng index, which surged by an impressive 2.7% during the final trading hours. Traders closely scrutinized vital economic data emerging from Japan, particularly Tokyo&#8217;s September inflation rate, considered a harbinger for the entire nation&#8217;s economic trends. Tokyo&#8217;s consumer price index rose by 2.8% year-on-year in September, showing a slight softening from the 2.9% increase witnessed in August. Furthermore, the core inflation rate, excluding fresh food prices, settled at 2.5%, falling short of the 2.6% consensus projected by a Reuters poll.<\/p>\n\n\n\n<p>In contrast, Japan&#8217;s Nikkei 225 experienced marginal losses, concluding at 31,857.62 points, while Australia&#8217;s S&amp;P\/ASX 200 rebounded with a 0.34% gain, marking a recovery following a three-day downward trend.<\/p>\n\n\n\n<p>Notably, South Korean and mainland Chinese markets remained closed for a holiday.<\/p>\n\n\n\n<p>Meanwhile, in the United States, all major stock indexes rallied as investors eagerly anticipated the release of the U.S. personal consumption expenditures price index, regarded as the Federal Reserve&#8217;s preferred inflation gauge. Concurrently, Wall Street kept a close watch on the ongoing negotiations among lawmakers regarding a U.S. spending bill, with the government facing a potential shutdown deadline of October 1. The Dow Jones Industrial Average climbed by 0.35%, the S&amp;P 500 added 0.59%, and the Nasdaq Composite surged by approximately 0.83%, capping off the trading day on a positive note.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; USD GDP m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Core PCE Price Index m\/m<\/li>\n\n\n\n<li>2:00 PM GMT &#8211; USD Revised UoM Consumer Sentiment<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets closed the [&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\/65833"}],"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=65833"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/65833\/revisions"}],"predecessor-version":[{"id":65834,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/65833\/revisions\/65834"}],"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=65833"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=65833"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=65833"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}