{"id":68360,"date":"2024-03-06T17:33:31","date_gmt":"2024-03-06T06:33:31","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=68360"},"modified":"2025-11-10T22:06:07","modified_gmt":"2025-11-10T11:06:07","slug":"wednesday-6th-march-2024-asian-markets-rebound-despite-tech-setback-in-wall-street","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-6th-march-2024-asian-markets-rebound-despite-tech-setback-in-wall-street\/","title":{"rendered":"Wednesday 6th March 2024: Asian Markets Rebound Despite Tech Setback in Wall Street"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.06%, Shanghai Composite down 0.07%, Hang Seng up 1.76% ASX up 0.12%<\/li>\n\n\n\n<li>Commodities : Gold at $2137.5 (-0.34%), Silver at $23.97 (-0.09%), Brent Oil at $82.25 (0.26%), WTI Oil at $78.57 (0.26%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.152, UK 10-year yield at 4.041, Germany 10-year yield at 2.318<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) ISM Services PMI 52.6 vs 53.0 expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets rebounded on Wednesday, overcoming early declines, with Hong Kong&#8217;s Hang Seng index leading the gains with a robust increase of over 1.5%. However, mainland Chinese stocks, reflected in the CSI 300, experienced a 0.6% decline. This shift followed a Wall Street tech downturn fueled by Apple&#8217;s nearly 3% drop in U.S. trading, attributed to a report revealing a plunge in iPhone sales in China.<\/p>\n\n\n\n<p>The Taiwan weighted index continued its positive trend, gaining 0.63%, with Taiwan Semiconductor Manufacturing Company shares trading near the flatline. In South Korea, Samsung Electronics saw a 1.22% decrease, contributing to a 0.44% slide in the broader Kospi, while the small-cap Kosdaq rose by 0.49%. China&#8217;s CSI 300 index reached over three-month highs on Tuesday after the country set its 2024 economic growth target at &#8220;around 5%&#8221; during the &#8220;Two Sessions&#8221; meeting.<\/p>\n\n\n\n<p>Japan&#8217;s Nikkei 225 saw a marginal dip, while the Topix edged 0.27% higher. In Australia, the S&amp;P\/ASX 200 gained marginally, closing at 7,730.9, despite the economy surpassing expectations in the fourth quarter. U.S. stocks experienced a second consecutive session of decline on Tuesday, led by significant drops in major tech names, including Apple. The Nasdaq Composite fell 1.65%, with the Dow Jones Industrial Average and the S&amp;P 500 losing 1.04% and 1.02%, respectively, as they retreated from record high levels.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>1:15 PM GMT &#8211; USD ADP Non-Farm Employment Change<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; CAD Labor Productivity q\/q<\/li>\n\n\n\n<li>2:45 PM GMT &#8211; CAD BOC Rate Statement<\/li>\n\n\n\n<li>2:45 PM GMT &#8211; CAD Overnight Rate<\/li>\n\n\n\n<li>3:30 PM GMT &#8211; CAD Crude Oil Inventories<\/li>\n\n\n\n<li>3:30 PM GMT &#8211; CAD Ivey PMI<\/li>\n\n\n\n<li>3:30 PM GMT &#8211; USD Fed Chair Powell Testifies<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets rebounded 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\/68360"}],"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=68360"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68360\/revisions"}],"predecessor-version":[{"id":68361,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68360\/revisions\/68361"}],"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=68360"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=68360"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=68360"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}