{"id":66483,"date":"2023-11-07T19:11:28","date_gmt":"2023-11-07T08:11:28","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=66483"},"modified":"2025-11-10T22:24:23","modified_gmt":"2025-11-10T11:24:23","slug":"tuesday-7th-november-2023-asia-pacific-markets-respond-to-south-korean-stock-decline","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-7th-november-2023-asia-pacific-markets-respond-to-south-korean-stock-decline\/","title":{"rendered":"Tuesday 7th November 2023: Asia-Pacific Markets Respond to South Korean Stock Decline"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 1.37%, Shanghai Composite down 0.04, Hang Seng down 1.70% ASX&nbsp; down&nbsp; 0.29%<\/li>\n\n\n\n<li>Commodities : Gold at $1975.05 (-0.64%), Silver at $22.81 (-1.79%), Brent Oil at $84.03 (-1.27%), WTI Oil at $79.70 (-1.40%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.652, UK 10-year yield at 4.409, Germany 10-year yield at 2.741<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) Ivey PMI 53.4 vs 54.0 expected<\/li>\n\n\n\n<li>(GBP) Construction PMI 45.6 vs 46.1 expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>South Korean stocks led losses in the broader Asia-Pacific region, falling by 3% as investors reacted to trade data from China and a rate hike by the Reserve Bank of Australia. The Kospi index in South Korea lost 3.12%, retracting gains made after a short-selling ban was reinstated. The Kosdaq also saw a 1.03% drop.<\/p>\n\n\n\n<p>Australia&#8217;s S&amp;P\/ASX 200 traded 0.29% lower following the Australian central bank&#8217;s expected decision to raise its key policy rate by 25 basis points to 4.35%. In Japan, the Nikkei 225 slipped by 1.37%, and the Topix index lost 0.75%.<\/p>\n\n\n\n<p>Hong Kong&#8217;s Hang Seng index fell by 1.70%, while mainland China&#8217;s Shanghai Composite declined by 0.24%, and the Shenzhen Component dropped by 0.47%.<\/p>\n\n\n\n<p>In the United States, all three major indexes managed to post modest gains, building on the previous week&#8217;s strong rally. The Nasdaq Composite rose by 0.3%, marking its longest positive streak since January. The S&amp;P 500 edged up by 0.18%, and the Dow Jones Industrial Average inched up by 34.54 points, or 0.1%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>1:30 PM GMT &#8211; CAD Trade Balance<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD Trade Balance<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: South Korean stocks led [&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\/66483"}],"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=66483"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66483\/revisions"}],"predecessor-version":[{"id":66484,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66483\/revisions\/66484"}],"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=66483"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=66483"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=66483"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}