{"id":68057,"date":"2024-02-20T17:53:15","date_gmt":"2024-02-20T06:53:15","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=68057"},"modified":"2025-11-10T22:07:52","modified_gmt":"2025-11-10T11:07:52","slug":"tuesday-20th-february-2024-asian-markets-slide-as-chinese-rate-cuts-fail-to-boost-confidence","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-20th-february-2024-asian-markets-slide-as-chinese-rate-cuts-fail-to-boost-confidence\/","title":{"rendered":"Tuesday 20th February 2024: Asian Markets Slide as Chinese Rate Cuts Fail to Boost Confidence"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.10%, Shanghai Composite up 0.55%, Hang Seng up 0.28% ASX down 0.08%<\/li>\n\n\n\n<li>Commodities : Gold at $2031.5 (0.09%), Silver at $22.97 (-0.14%), Brent Oil at $83.45 (-0.16%), WTI Oil at $78.37 (0.18%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.308, UK 10-year yield at 4.158, Germany 10-year yield at 2.409<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) IPPI m\/m -0.1% vs&nbsp; -0.1% expected<\/li>\n\n\n\n<li>(CAD) RMPI m\/m 1.2% vs&nbsp; 0.7% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets declined on Tuesday as the Chinese central bank&#8217;s decisions on key lending rates failed to boost investor confidence. The CSI 300 dropped 0.25% after the People\u2019s Bank of China cut its five-year loan prime rate by 25 basis points to 3.95%, while keeping the one- and five-year LPR unchanged at 3.45%.&nbsp;<\/p>\n\n\n\n<p>Japan&#8217;s Nikkei 225 traded 0.11% lower, hovering near record highs, while South Korea\u2019s Kospi experienced a more substantial decline, shedding 1.16%. In Australia, the S&amp;P\/ASX 200 closed marginally lower at 7,659, influenced by Star Entertainment&#8217;s over 20% drop to a record low amid reports of a potential second inquiry into its Sydney casino.<\/p>\n\n\n\n<p>Notably, U.S. markets were closed on Monday for the Presidents\u2019 Day holiday.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>1:30 PM GMT &#8211; CAD CPI m\/m<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; CAD Median CPI y\/y<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; CAD Trimmed CPI y\/y<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; CAD Common CPI y\/y<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; CAD Core CPI m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets declined 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\/68057"}],"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=68057"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68057\/revisions"}],"predecessor-version":[{"id":68069,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68057\/revisions\/68069"}],"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=68057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=68057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=68057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}