{"id":66127,"date":"2023-10-17T18:04:13","date_gmt":"2023-10-17T07:04:13","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=66127"},"modified":"2025-11-11T15:19:32","modified_gmt":"2025-11-11T04:19:32","slug":"tuesday-17th-october-2023-australian-stocks-reverse-three-day-slide-closing-higher","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-17th-october-2023-australian-stocks-reverse-three-day-slide-closing-higher\/","title":{"rendered":"Tuesday 17th October 2023: Australian Stocks Reverse Three-Day Slide, Closing Higher"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 1.20%, Shanghai Composite up 0.32, Hang Seng up 1.02% ASX up 0.42%<\/li>\n\n\n\n<li>Commodities : Gold at $1930.05 (-0.22%), Silver at $22.67 (-0.39%), Brent Oil at $89.66 (0.18%), WTI Oil at $85.26 (0.027%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.775, UK 10-year yield at 4.529, Germany 10-year yield at 2.807<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) Manufacturing Sales m\/m 0.7% vs 1.1% expected<\/li>\n\n\n\n<li>(CAD) Wholesale Sales m\/m 2.3% vs 2.5% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Australian stocks closed higher on Tuesday, breaking a three-day downward trend, as investors digested the minutes from the central bank&#8217;s recent policy meeting. In New Zealand, the Kiwi dollar weakened after an inflation report, the first since the weekend&#8217;s elections, revealed a drop to 5.6% in the third quarter from the previous quarter&#8217;s 6%.<\/p>\n\n\n\n<p>The Reserve Bank of Australia&#8217;s meeting minutes outlined their decision to maintain the benchmark lending rates at 4.1% for the fourth consecutive month. In Australia, the S&amp;P\/ASX 200 index closed 0.42% higher at 7,056.10, while the New Zealand dollar depreciated by 0.39%.<\/p>\n\n\n\n<p>Asian markets showed resilience as Japan&#8217;s Nikkei 225 rebounded, gaining 0.98%, and the Topix index advanced by 0.57%. South Korea&#8217;s Kospi index added 1%, and the Kosdaq gained 0.93%. Hong Kong&#8217;s Hang Seng index rose by 0.75%, while mainland Chinese markets reversed earlier declines to close 0.37% higher.<\/p>\n\n\n\n<p>Overnight in the United States, all major indexes saw gains, with the Dow Jones Industrial Average surging by 0.93%, marking its best performance since September. The S&amp;P 500 climbed by 1.06%, and the Nasdaq Composite registered a 1.2% increase.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; CAD CPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Median CPI y\/y<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Trimmed CPI y\/y<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Common CPI y\/y<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Core CPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Foreign Securities Purchases<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Core Retail Sales m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Retail Sales m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Australian stocks closed higher [&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\/66127"}],"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=66127"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66127\/revisions"}],"predecessor-version":[{"id":66137,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66127\/revisions\/66137"}],"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=66127"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=66127"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=66127"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}