{"id":66789,"date":"2023-11-29T17:54:47","date_gmt":"2023-11-29T06:54:47","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=66789"},"modified":"2025-11-10T22:20:45","modified_gmt":"2025-11-10T11:20:45","slug":"wednesday-29th-november-2023-asia-pacific-market-fluctuations-amidst-fed-commentary-influence","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-29th-november-2023-asia-pacific-market-fluctuations-amidst-fed-commentary-influence\/","title":{"rendered":"Wednesday 29th November 2023: Asia-Pacific Market Fluctuations Amidst Fed Commentary Influence"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.30%, Shanghai Composite down 0.48, Hang Seng down 2.47% ASX up 0.29%<\/li>\n\n\n\n<li>Commodities : Gold at $2044.05 (0.23%), Silver at $25.00 (0.26%), Brent Oil at $81.61 (0.16%), WTI Oil at $76.69 (0.36%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.267, UK 10-year yield at 4.205, Germany 10-year yield at 2.488<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Richmond Manufacturing Index -5 vs 1 expected<\/li>\n\n\n\n<li>(USD) CB consumer Confidence&nbsp; 102 vs 101 expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets witnessed a mixed scenario as Hong Kong&#8217;s Hang Seng index plummeted by 2.47%, led by a 12% drop in shares of Chinese food delivery giant Meituan. Meanwhile, Australia&#8217;s S&amp;P\/ASX 200 continued its ascent, climbing 0.29% following a dip in the country&#8217;s October inflation rate to 4.8%, the lowest since January 2022.<\/p>\n\n\n\n<p>South Korea&#8217;s Kospi experienced marginal declines while the smaller Kosdaq closed with a 0.73% increase. Japan&#8217;s Nikkei 225 faced three consecutive days of losses, ending down by 0.26%, alongside a 0.51% fall in the Topix.<\/p>\n\n\n\n<p>In the U.S., conflicting statements from Federal Reserve officials drove market movements. Waller&#8217;s hint at a possible halt in rate hikes boosted the Dow Jones Industrial Average by 0.24%. Conversely, Governor Michelle Bowman&#8217;s remarks indicating the need for further rate increases to control inflation resulted in more muted gains, with the S&amp;P 500 edging up by 0.1% and the Nasdaq Composite gaining 0.29%.<\/p>\n\n\n\n<p>The Asia-Pacific region experienced market fluctuations influenced by divergent statements from U.S. Federal Reserve members. While Hong Kong suffered notable losses, Australia&#8217;s market remained resilient. These contrasting signals from Fed officials stirred mixed sentiments in the U.S. markets regarding the future direction of interest rates and their impact on inflation.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>1:30 PM GMT &#8211; CAD Current Account<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD Prelim GDP q\/q<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD Prelim GDP Price Index q\/q<\/li>\n\n\n\n<li>3:05 PM GMT &#8211; GBP BOE Gov Bailey Speaks<\/li>\n\n\n\n<li>3:30 PM GMT &#8211; USD Crude Oil Inventories<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets witnessed a [&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\/66789"}],"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=66789"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66789\/revisions"}],"predecessor-version":[{"id":66796,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66789\/revisions\/66796"}],"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=66789"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=66789"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=66789"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}