{"id":67896,"date":"2024-02-08T18:39:01","date_gmt":"2024-02-08T07:39:01","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=67896"},"modified":"2025-11-10T22:10:45","modified_gmt":"2025-11-10T11:10:45","slug":"thursday-8th-february-2024-asian-markets-soar-as-japans-nikkei-hits-34-year-high","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/thursday-8th-february-2024-asian-markets-soar-as-japans-nikkei-hits-34-year-high\/","title":{"rendered":"Thursday 8th February 2024: Asian Markets Soar as Japan&#8217;s Nikkei Hits 34-Year High"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 2.09%, Shanghai Composite up 1.30%, Hang Seng down 1.15% ASX up 0.31%<\/li>\n\n\n\n<li>Commodities : Gold at $2049.5 (-0.02%), Silver at $22.47 (0.34%), Brent Oil at $79.65 (0.46%), WTI Oil at $74.27 (0.47%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.127, UK 10-year yield at 4.031, Germany 10-year yield at 2.324<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Trade Balance -0.3B vs&nbsp; 1.1B expected<\/li>\n\n\n\n<li>(CAD) Trade Balance -62.2B vs -62.0B expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets rallied on Thursday, led by Japan&#8217;s Nikkei hitting a 34-year high. The surge followed a report that the Bank of Japan (BOJ) was not planning aggressive monetary policy tightening. The Nikkei 225 rose 2.09% to 36,863.28, rebounding from two days of decline. Topix closed 0.5% higher at 2,562.63.<\/p>\n\n\n\n<p>BOJ Deputy Governor Shinichi Uchida stated that the central bank wouldn&#8217;t aggressively raise interest rates, even after ending its negative interest rate policy. China&#8217;s January inflation data showed a steeper-than-expected 0.8% YoY decline in the consumer price index. The Reserve Bank of India maintained its repo rate at 6.5% and projected 7% growth for FY 2024-2025.<\/p>\n\n\n\n<p>Hong Kong&#8217;s Hang Seng fell 1.15% due to Alibaba&#8217;s shares dropping 6.5% after missing revenue expectations. Mainland Chinese CSI 300 edged 0.15% higher. Australia&#8217;s S&amp;P\/ASX 200 extended gains by 0.31%, closing at 7,639.20. South Korea&#8217;s Kospi rose 0.2%, while the Kosdaq gained 1.6%.<\/p>\n\n\n\n<p>In the U.S., all three major indexes rose, with the S&amp;P 500 setting a new all-time record near 5,000, closing at 4,995.06 (up 0.82%). The Dow Jones Industrial Average reached a new high of 38,677.36 (up 0.4%), and the Nasdaq Composite jumped 0.95%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>1:30 PM GMT &#8211; USD Unemployment Claims<\/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: Asia-Pacific markets rallied 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\/67896"}],"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=67896"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/67896\/revisions"}],"predecessor-version":[{"id":67897,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/67896\/revisions\/67897"}],"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=67896"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=67896"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=67896"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}