{"id":67009,"date":"2023-12-13T17:55:12","date_gmt":"2023-12-13T06:55:12","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=67009"},"modified":"2025-11-10T22:18:21","modified_gmt":"2025-11-10T11:18:21","slug":"wednesday-13th-december-2023-asian-markets-reel-as-china-stocks-drop-pre-fed-decision-us-indexes-surge","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-13th-december-2023-asian-markets-reel-as-china-stocks-drop-pre-fed-decision-us-indexes-surge\/","title":{"rendered":"Wednesday 13th December 2023: Asian markets reel as China stocks drop pre-Fed decision, US indexes surge"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.25%, Shanghai Composite down 1.12%, Hang Seng down1.48% ASX up 0.31%<\/li>\n\n\n\n<li>Commodities : Gold at $1989.5 (-0.17%), Silver at $22.930 (-0.34%), Brent Oil at $72.56 (-0.82%), WTI Oil at $68.07 (-0.83%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.206, UK 10-year yield at 3.994, Germany 10-year yield at 2.220<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Core CPI m\/m 0.3% vs 0.3% expected<\/li>\n\n\n\n<li>(USD) CPI m\/m 0.1% vs 0.0% expected<\/li>\n\n\n\n<li>(USD) CPI y\/y 3.1% vs 3.0% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>China&#8217;s stock market faced a downturn as investors processed Beijing&#8217;s plans to stimulate domestic demand just ahead of the U.S. Federal Reserve&#8217;s impending interest rate decision. The mainland Chinese CSI 300 index plummeted by over 1.3% following China&#8217;s commitment to boosting internal demand, prioritizing strategic sector development, and tackling the real estate crisis after a pivotal meeting outlining economic priorities for 2024. BofA Global Research noted that Beijing&#8217;s outlined measures largely aligned with market predictions, expecting no aggressive fiscal expansions or rate cuts.<\/p>\n\n\n\n<p>Anticipation surrounded the Federal Reserve&#8217;s upcoming policy statement, expected to maintain its benchmark overnight borrowing rate within the 5.25%-5.5% range. Australia&#8217;s S&amp;P\/ASX 200 climbed by 0.31%, closing at 7,257.8, marking its highest point in four months. Japan&#8217;s Nikkei 225 advanced by 0.33%, and the Topix saw a rise of 0.13%. Conversely, South Korea&#8217;s Kospi fell by 0.94%, and the smaller Kosdaq slid by 1.14%. Hong Kong&#8217;s Hang Seng index experienced a 1.08% decline following its leading gains in Asia the previous day.<\/p>\n\n\n\n<p>In the U.S., all major indexes recorded gains for a fourth consecutive day following the expected 3.1% year-on-year increase in the consumer price index. The Nasdaq Composite and Dow Jones Industrial Average reached their highest levels since April and January of the preceding year. The S&amp;P 500 rose by 0.46%, the Dow gained 0.48%, and the Nasdaq Composite advanced by 0.70%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>1:30 PM GMT &#8211; USD Core PPI m\/m<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD PPI m\/m<\/li>\n\n\n\n<li>7:00 PM GMT &#8211; USD Federal Funds Rate<\/li>\n\n\n\n<li>7:00 PM GMT &#8211; USD FOMC Economic Projections<\/li>\n\n\n\n<li>7:00 PM GMT &#8211; USD FOMC Statement<\/li>\n\n\n\n<li>7:30 PM GMT &#8211; USD FOMC Press Conference<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: China&#8217;s stock market faced [&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\/67009"}],"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=67009"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/67009\/revisions"}],"predecessor-version":[{"id":67016,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/67009\/revisions\/67016"}],"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=67009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=67009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=67009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}