{"id":66149,"date":"2023-10-18T17:24:36","date_gmt":"2023-10-18T06:24:36","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=66149"},"modified":"2025-11-11T15:19:19","modified_gmt":"2025-11-11T04:19:19","slug":"wednesday-18th-october-2023-asias-markets-react-to-strong-chinese-economic-data-u-s-yield-surge","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-18th-october-2023-asias-markets-react-to-strong-chinese-economic-data-u-s-yield-surge\/","title":{"rendered":"Wednesday 18th October 2023: Asia&#8217;s Markets React to Strong Chinese Economic Data, U.S. Yield Surge"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.13%, Shanghai Composite down 0.82, Hang Seng down 0.15% ASX up 0.30%<\/li>\n\n\n\n<li>Commodities : Gold at $1949.05 (0.72%), Silver at $23.267 (1.09%), Brent Oil at $91.66 (1.89%), WTI Oil at $87.26 (2.07%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.849, UK 10-year yield at 4.580, Germany 10-year yield at 2.899<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) CPI m\/m -0.1% vs 0.1% expected<\/li>\n\n\n\n<li>(USD) Retail Sales m\/m 0.7% vs 0.3% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia&#8217;s markets had a turbulent afternoon of trading, reacting to stronger-than-expected economic data from China. China reported 4.9% growth in the July to September quarter compared to the previous year, surpassing economists&#8217; expectations of 4.4%. The country also posted higher-than-expected retail sales data for September and saw a significant drop in urban unemployment.&nbsp;<\/p>\n\n\n\n<p>In response, Hong Kong&#8217;s Hang Seng index dipped by 0.15%, and China&#8217;s CSI 300 index fell by 0.64%. Meanwhile, Australia&#8217;s S&amp;P\/ASX 200 ended 0.3% higher, Japan&#8217;s Nikkei 225 edged up by 0.13%, South Korea&#8217;s Kospi remained flat, and Taiwan&#8217;s Taiex dropped by 1.21%.<\/p>\n\n\n\n<p>In the United States, the S&amp;P 500 closed almost unchanged, slipping by just 0.01%. Investors closely watched bond yield movements and monitored the ongoing corporate earnings season. The 10-year U.S. Treasury yield reached 4.8%, its highest level since October 6. This surge followed better-than-expected U.S. retail sales data. The Nasdaq Composite lost 0.25%, while the Dow Jones Industrial Average gained 0.04%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:15 PM GMT &#8211; CAD Housing Starts<\/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 Housing Starts<\/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&#8217;s markets had a [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":79815,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[340,196,215,339],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66149"}],"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=66149"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66149\/revisions"}],"predecessor-version":[{"id":66155,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66149\/revisions\/66155"}],"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=66149"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=66149"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=66149"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}