{"id":66909,"date":"2023-12-07T18:23:45","date_gmt":"2023-12-07T07:23:45","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=66909"},"modified":"2025-11-10T22:19:57","modified_gmt":"2025-11-10T11:19:57","slug":"thursday-7th-december-2023-asia-pacific-markets-react-to-surprising-trade-data-amid-global-downturn","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/thursday-7th-december-2023-asia-pacific-markets-react-to-surprising-trade-data-amid-global-downturn\/","title":{"rendered":"Thursday 7th December 2023: Asia-Pacific Markets React to Surprising Trade Data Amid Global Downturn"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 1.72%, Shanghai Composite down 0.09%, Hang Seng up 1.04% ASX down 0.07%<\/li>\n\n\n\n<li>Commodities : Gold at $2045.45 (-0.09%), Silver at $24.21 (-0.04%), Brent Oil at $74.29 (0.52%), WTI Oil at $69.3 (0.43%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.174, UK 10-year yield at 3.991, Germany 10-year yield at 2.230<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) ADP Non-Farm Employment Change 103K vs 131K expected<\/li>\n\n\n\n<li>(USD) Trade Balance -64.3B vs -64.1B expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Markets across Asia-Pacific mirrored Wall Street&#8217;s decline, reacting to trade data from China and Australia. China&#8217;s unexpected November trade report showed a 0.5% surge in exports and a 0.6% dip in imports, surpassing economist forecasts. China&#8217;s trade surplus widened to $68.39 billion, exceeding expectations of $58 billion.<\/p>\n\n\n\n<p>Oil prices hit a six-month low, with West Texas Intermediate (WTI) settling at $69.38 per barrel, down 4.07%, and Brent crude for February closing at $74.30, a 3.76% decrease.<\/p>\n\n\n\n<p>Australia&#8217;s S&amp;P\/ASX 200 narrowed losses, ending 0.07% lower at 7,173.3, despite a widened trade surplus of 7.13 billion Australian dollars in October, missing Reuters&#8217; estimated AU$7.5 billion.<\/p>\n\n\n\n<p>Japan&#8217;s Nikkei 225 dropped 1.72%, reversing gains from the previous day, while the Topix slid 1.12%. South Korea&#8217;s Kospi fell 0.13%, and the Kosdaq, its small-cap index, declined by 0.74%. Hong Kong&#8217;s Hang Seng index experienced a 1.16% drop, but the mainland Chinese CSI 300 reversed losses, ending up by 0.14%.<\/p>\n\n\n\n<p>In the U.S., all major indexes retreated amid concerns about declining inflation. The Dow Jones Industrial Average lost 0.19%, the S&amp;P 500 shed 0.39%, and the Nasdaq Composite dropped 0.58%. This marked the third consecutive day of losses for the Dow and the S&amp;P 500, the first such streak since October.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>1:30 PM GMT &#8211; CAD Building Permits m\/m<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n\n\n\n<li>3:00 PM GMT &#8211; USD Final Wholesale Inventories m\/m<\/li>\n\n\n\n<li>3:30 PM GMT &#8211; USD Natural Gas Storage<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Markets across Asia-Pacific mirrored [&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\/66909"}],"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=66909"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66909\/revisions"}],"predecessor-version":[{"id":66915,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/66909\/revisions\/66915"}],"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=66909"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=66909"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=66909"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}