{"id":66458,"date":"2023-11-06T18:05:01","date_gmt":"2023-11-06T07:05:01","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=66458"},"modified":"2025-11-10T22:24:33","modified_gmt":"2025-11-10T11:24:33","slug":"monday-6th-november-2023-asia-pacific-market-rally","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-6th-november-2023-asia-pacific-market-rally\/","title":{"rendered":"Monday 6th November 2023: Asia-Pacific Market Rally"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 2.33%, Shanghai Composite up 0.89, Hang Seng up 1.68% ASX&nbsp; up&nbsp; 0.28%<\/li>\n\n\n\n<li>Commodities : Gold at $1990.05 (-0.41%), Silver at $23.24 (-0.11%), Brent Oil at $85.36 (0.56%), WTI Oil at $81.08 (0.72%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.587, UK 10-year yield at 4.334, Germany 10-year yield at 2.657<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) Employment Change 17.5K vs 25.7K expected<\/li>\n\n\n\n<li>(CAD) Unemployment Rate 5.7% vs 5.6% expected<\/li>\n\n\n\n<li>(UDD) Non-Farm Employment Change 150K vs 178K expected<\/li>\n\n\n\n<li>(USD) Unemployment Rate 3.9% vs 3.8% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>South Korean stocks rallied on Monday as the country implemented a ban on short-selling until June 2024, while Asian markets reacted positively to a softer U.S. jobs report, which lowered expectations of interest rate hikes. Short-selling involves selling borrowed shares to buy them back at a lower price, securing a profit from the price difference.<\/p>\n\n\n\n<p>The U.S. nonfarm payrolls report for October reported a gain of 150,000 jobs, falling short of expectations, thus reducing concerns about the Federal Reserve&#8217;s interest rate policies. In Japan, business activity expanded in October, albeit at a slower pace compared to earlier in the year.<\/p>\n\n\n\n<p>In South Korea, the Kospi index surged by 3.99%, and the Kosdaq gained a remarkable 6.56%. Japan&#8217;s Nikkei 225 and Topix indexes rose by 2.32% and 1.70%, respectively, reaching their highest levels in over a month. Hong Kong&#8217;s Hang Seng index increased by 1.68%, and Mainland China&#8217;s CSI 300 index saw a gain of 1.33%. In Australia, the S&amp;P\/ASX 200 closed 0.28% higher at 6,997.40.<\/p>\n\n\n\n<p>U.S. stock markets closed positively on Friday, with the S&amp;P 500 climbing 0.94%, marking its first five-day gain since June. The Dow Jones Industrial Average gained over 200 points, rising by 0.66%, while the Nasdaq Composite surged by 1.38%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>3:00 PM GMT &#8211; CAD Ivey PMI<\/li>\n\n\n\n<li>4:00 PM GMT &#8211; USD FOMC Member Cook Speaks<\/li>\n\n\n\n<li>5:00 PM GMT &#8211; GBP MPC Member Pill Speaks<\/li>\n\n\n\n<li>6:00 PM GMT &#8211; EUR German Buba President Nagel Speaks<\/li>\n\n\n\n<li>11:30 PM GMT &#8211; JPY Average Cash Earnings y\/y<\/li>\n\n\n\n<li>11:30 PM GMT &#8211; JPY Household Spending y\/y<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: South Korean stocks rallied [&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\/66458"}],"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=66458"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66458\/revisions"}],"predecessor-version":[{"id":66461,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66458\/revisions\/66461"}],"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=66458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=66458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=66458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}