{"id":66432,"date":"2023-11-03T18:14:05","date_gmt":"2023-11-03T07:14:05","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=66432"},"modified":"2025-11-10T22:24:43","modified_gmt":"2025-11-10T11:24:43","slug":"friday-3rd-november-2023-asian-markets-rally-while-wall-street-optimism-prevails","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-3rd-november-2023-asian-markets-rally-while-wall-street-optimism-prevails\/","title":{"rendered":"Friday 3rd November 2023: Asian Markets Rally while Wall Street Optimism Prevails"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 1.10%, Shanghai Composite up 0.71, Hang Seng up 2.51% ASX&nbsp; up&nbsp; 1.14%<\/li>\n\n\n\n<li>Commodities : Gold at $1995.05 (0.08%), Silver at $22.74 (-0.43%), Brent Oil at $87.06 (0.26%), WTI Oil at $82.73 (0.32%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.679, UK 10-year yield at 4.432, Germany 10-year yield at 2.715<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(GBP) Official Bank Rate 5.25% vs 5.25% expected<\/li>\n\n\n\n<li>(USD) Unemployment Claims 217K vs 210K expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asian-Pacific markets closed the week with gains, as investors sought insights into the region&#8217;s business activity. China&#8217;s service sector expanded slightly in October, with the Caixin services purchasing managers index reaching 50.4, slightly above September&#8217;s 50.2. In contrast, Hong Kong&#8217;s private sector continued to contract in October due to declining new business, especially from mainland China.<\/p>\n\n\n\n<p>Market performance in response to this data was positive. Hong Kong&#8217;s Hang Seng index surged by 2.83%, while China&#8217;s CSI 300 increased by 0.89%. South Korea&#8217;s Kospi closed 1.08% higher, and the Kosdaq also gained, marking their third consecutive day of gains. In Australia, the S&amp;P\/ASX 200 closed 1.14% higher, while Japan&#8217;s markets were closed for a public holiday.<\/p>\n\n\n\n<p>On Wall Street, indexes rose as Treasury yields fell, with investors speculating that the Federal Reserve might halt rate hikes for 2023. The Dow Jones Industrial Average closed 1.7% higher, its best day since June, and the S&amp;P 500 recorded a 1.89% increase, its first back-to-back gains of over 1% since February. The Nasdaq Composite also climbed by 1.78%, marking its most robust session since July.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; CAD Employment Change<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Unemployment Rate<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Average Hourly Earnings m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Non-Farm Employment Change<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Unemployment Rate<\/li>\n\n\n\n<li>1:45 PM GMT &#8211; USD Final Services PMI<\/li>\n\n\n\n<li>2:00 PM GMT &#8211; USD ISM Services PMI<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asian-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\/66432"}],"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=66432"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66432\/revisions"}],"predecessor-version":[{"id":66441,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66432\/revisions\/66441"}],"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=66432"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=66432"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=66432"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}