{"id":66659,"date":"2023-11-20T17:20:35","date_gmt":"2023-11-20T06:20:35","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=66659"},"modified":"2025-11-10T22:22:29","modified_gmt":"2025-11-10T11:22:29","slug":"monday-20th-november-2023-asia-pacific-markets-begin-week-on-high-china-holds-steady-on-lending-rates","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-20th-november-2023-asia-pacific-markets-begin-week-on-high-china-holds-steady-on-lending-rates\/","title":{"rendered":"Monday 20th November 2023: Asia-Pacific Markets Begin Week on High, China Holds Steady on Lending Rates"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.64%, Shanghai Composite up 0.43, Hang Seng up 1.70% ASX up 0.13%<\/li>\n\n\n\n<li>Commodities : Gold at $1982.05 (-0.13%), Silver at $23.69 (-0.64%), Brent Oil at $81.48 (0.93%), WTI Oil at $76.83 (1.00%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.455, UK 10-year yield at 4.137, Germany 10-year yield at 2.586<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Housing starts 1.37M vs 1.35M expected<\/li>\n\n\n\n<li>(USD) Building Permits&nbsp; 1.49M vs 1.45M expected<\/li>\n\n\n\n<li>(CAD) IPPI m\/m -1.0% vs 0.2% expected<\/li>\n\n\n\n<li>(CAD) RPPI m\/m&nbsp; -2.5% vs -2.0% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asian-Pacific markets commenced the week on an upward trend, bouncing back from the previous session&#8217;s downturns across major bourses. China opted to maintain its benchmark lending rates, with the one-year loan prime rate pegged at 3.45% and the five-year benchmark loan rate at 4.2%.<\/p>\n\n\n\n<p>Japan&#8217;s Nikkei 225 initially hit a 33-year high but struggled to sustain this peak, eventually dipping by 0.64%. Simultaneously, the Topix index saw a decline of 0.31%. Attention turned to Japan&#8217;s forthcoming October inflation figures, set to be unveiled on Friday.<\/p>\n\n\n\n<p>In contrast, Hong Kong&#8217;s stock market experienced a setback, led by a plunge in Alibaba&#8217;s shares following the e-commerce giant&#8217;s announcement of halting the full spinoff of its cloud group. The Hang Seng index managed to rise by 1.7%, while China&#8217;s CSI 300 fell by 0.23%.<\/p>\n\n\n\n<p>South Korea&#8217;s Kospi saw a rise of approximately 0.75%, while the smaller-cap Kosdaq surged by 1.42%. Meanwhile, Australia&#8217;s S&amp;P\/ASX 200 index gained 0.13%.<\/p>\n\n\n\n<p>Overall, the major US indices celebrated their third consecutive positive week, with the S&amp;P 500 advancing by 2.2%, the Nasdaq surging approximately 2.4%, and the Dow closing the week with a 1.9% gain. This three-week winning streak marks a notable achievement, particularly for the Dow and S&amp;P 500, breaking their streaks that dated back to July and the Nasdaq since June.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>3:00 PM GMT &#8211; USD CB Leading Index m\/m<\/li>\n\n\n\n<li>3:30 PM GMT &#8211; AUD CB Leading Index m\/m<\/li>\n\n\n\n<li>6:45 PM GMT &#8211; GBP BOE Gov Bailey Speaks<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asian-Pacific markets commenced 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\/66659"}],"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=66659"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66659\/revisions"}],"predecessor-version":[{"id":66660,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66659\/revisions\/66660"}],"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=66659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=66659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=66659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}