{"id":67030,"date":"2023-12-14T18:01:27","date_gmt":"2023-12-14T07:01:27","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=67030"},"modified":"2025-11-10T22:18:12","modified_gmt":"2025-11-10T11:18:12","slug":"thursday-14th-december-2023-asia-pacific-markets-surge-on-feds-rate-cut-signals","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/thursday-14th-december-2023-asia-pacific-markets-surge-on-feds-rate-cut-signals\/","title":{"rendered":"Thursday 14th December 2023: Asia-Pacific Markets Surge on Fed&#8217;s Rate Cut Signals"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.80%, Shanghai Composite down 0.31%, Hang Seng up 0.79% ASX up 1.65%<\/li>\n\n\n\n<li>Commodities : Gold at $2049.5 (2.17%), Silver at $24.19 (5.34%), Brent Oil at $74.56 (0.42%), WTI Oil at $69.07 (0.53%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.946, UK 10-year yield at 3.884, Germany 10-year yield at 2.156<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Core PPI m\/m 0.0% vs 0.2% expected<\/li>\n\n\n\n<li>(USD) PPI m\/m 0.0% vs 0.0% expected<\/li>\n\n\n\n<li>(USD) Federal Funds Rate&nbsp; 5.5% vs 5.5% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>The Asia-Pacific equity markets surged as the U.S. Federal Reserve signaled an end to its interest-rate hikes and hinted at upcoming cuts. Hong Kong&#8217;s Hang Seng index led the rally with a 0.79% rise, joined by China&#8217;s CSI 300 index, which saw marginal gains.<\/p>\n\n\n\n<p>The Fed revised down its inflation forecast, predicting the core personal consumption expenditures price index to be 2.4% in 2024 and 2.2% in 2025, lower than previous estimates. Australia&#8217;s S&amp;P\/ASX 200 climbed 1.65%, hitting levels unseen since August 1.<\/p>\n\n\n\n<p>Japan&#8217;s Nikkei 225 initially rose but later fell by 0.80%, while the Topix slipped 1.33% amid anticipation for the Bank of Japan&#8217;s upcoming policy decision. South Korea\u2019s Kospi surged by 1.24%, and the smaller-cap Kosdaq added 1.15%.<\/p>\n\n\n\n<p>In the U.S., the Dow Jones Industrial Average and the S&amp;P 500 hit record highs, with the Dow rising by 1.4% and crossing the 37,000 level for the first time. The S&amp;P 500 surged by 1.37%, surpassing the 4,700 milestone, while the Nasdaq Composite climbed 1.38%. All three indices reached fresh 52-week highs.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:00 PM GMT &#8211; GBP Official Bank Rate<\/li>\n\n\n\n<li>1:15 PM GMT &#8211; EUR Main Refinancing Rate<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD Core Retail Sales m\/m<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD Retail Sales m\/m<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n\n\n\n<li>1:45 PM GMT &#8211; EUR ECB Press Conference<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: The Asia-Pacific equity markets [&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\/67030"}],"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=67030"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/67030\/revisions"}],"predecessor-version":[{"id":67033,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/67030\/revisions\/67033"}],"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=67030"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=67030"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=67030"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}