{"id":67124,"date":"2023-12-20T18:53:45","date_gmt":"2023-12-20T07:53:45","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=67124"},"modified":"2025-11-10T22:16:57","modified_gmt":"2025-11-10T11:16:57","slug":"wednesday-20th-december-2023-asian-stocks-gain-momentum-on-central-bank-moves","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-20th-december-2023-asian-stocks-gain-momentum-on-central-bank-moves\/","title":{"rendered":"Wednesday 20th December 2023: Asian Stocks Gain Momentum on Central Bank Moves"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 1.47%, Shanghai Composite down 1.04%, Hang Seng up 0.48% ASX up 0.65%<\/li>\n\n\n\n<li>Commodities : Gold at $2055.5 (0.17%), Silver at $24.13 (0.04%), Brent Oil at $79.06 (0.23%), WTI Oil at $74.17 (0.34%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.899, UK 10-year yield at 3.686, Germany 10-year yield at 1.996<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) CPI m\/m 0.1% vs -0.1% expected<\/li>\n\n\n\n<li>(CAD) Median CPI y\/y 3.4% vs 3.3% expected<\/li>\n\n\n\n<li>(CAD) Trimmed CPI y\/y 3.5% vs 3.4% expected<\/li>\n\n\n\n<li>(USD) Building Permits 1.46M vs 1.47M expected<\/li>\n\n\n\n<li>(USD) Housing starts 1.56M vs 1.36M expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asian markets surged on Wednesday, with Japan&#8217;s stocks extending gains after the Bank of Japan maintained its ultra-loose monetary policy, keeping interest rates at -0.1%. The commitment to the yield curve control policy and Governor Kazuo Ueda&#8217;s dovish tone at the press conference bolstered positive sentiment.<\/p>\n\n\n\n<p>China&#8217;s People\u2019s Bank held its one-year loan prime rate at 3.45% and the five-year benchmark loan rate at 4.2%, mirroring the upbeat mood from Wall Street&#8217;s rally. The S&amp;P 500 edged closer to its peak, while the Dow Jones Industrial Average continued its upward trend for the ninth consecutive day.<\/p>\n\n\n\n<p>Australia&#8217;s S&amp;P\/ASX 200 reached a 10-month high, closing 0.65% higher at 7,537.90. Hong Kong\u2019s Hang Seng index gained 0.48%, while China\u2019s CSI 300 was the only major Asian market to dip, falling by 0.52%.<\/p>\n\n\n\n<p>Japan\u2019s Nikkei 225 rose by 1.47%, and the broader Topix climbed 0.9%. South Korea\u2019s Kospi led gains among Asia-Pacific markets, surging by 1.72%, while the small-cap Kosdaq added 0.44%. Wall Street&#8217;s S&amp;P 500 edged up by 0.59%, nearing its record high, reflecting the Federal Reserve\u2019s recent stance on rates. The Dow Jones Industrial Average rose by 0.68% to 37,557.92, while the Nasdaq Composite reached above the 15,000 level for the first time since January 2022, advancing by 0.66% to 15,003.22.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>1:30 PM GMT &#8211; USD Current Account<\/li>\n\n\n\n<li>3:00 PM GMT &#8211; EUR Consumer Confidence<\/li>\n\n\n\n<li>3:00 PM GMT &#8211; USD Existing Home Sales<\/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: Asian markets surged on [&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\/67124"}],"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=67124"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/67124\/revisions"}],"predecessor-version":[{"id":67125,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/67124\/revisions\/67125"}],"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=67124"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=67124"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=67124"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}