{"id":68465,"date":"2024-03-11T17:20:26","date_gmt":"2024-03-11T06:20:26","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=68465"},"modified":"2025-11-10T22:05:37","modified_gmt":"2025-11-10T11:05:37","slug":"monday-11th-march-2024-asian-markets-falter-amid-economic-concerns-and-global-tech-slump","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-11th-march-2024-asian-markets-falter-amid-economic-concerns-and-global-tech-slump\/","title":{"rendered":"Monday 11th March 2024: Asian Markets Falter Amid Economic Concerns and Global Tech Slump"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 2.11%, Shanghai Composite up 0.28%, Hang Seng up 1.28% ASX down 1.82%<\/li>\n\n\n\n<li>Commodities : Gold at $2184.5 (0.06%), Silver at $24.57 (-0.11%), Brent Oil at $81.53 (-0.36%), WTI Oil at $77.67 (-0.46%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.069, UK 10-year yield at 4.003, Germany 10-year yield at 2.270<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) Employment Change 40.7K vs 21.1K expected<\/li>\n\n\n\n<li>(CAD) Unemployment rate 5.8% vs 5.8% expected<\/li>\n\n\n\n<li>(USD) Non Farm Employment Change 275K vs 198K expected<\/li>\n\n\n\n<li>(USD) Unemployment rate 3.9% vs 3.7% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Japan led losses in the Asia-Pacific region after avoiding a technical recession, prompting speculation about the central bank raising rates. The Nikkei 225 plunged nearly 3%, driven by technology stocks, falling below 39,000 for the first time since February 21. Revised data showed Japan&#8217;s GDP grew 0.4% in October-December. China experienced its first month of inflation, with the consumer price index rising 0.7% year on year in February, beating expectations after four months of deflation.<\/p>\n\n\n\n<p>South Korea&#8217;s Kospi slipped 0.46%, while the small-cap Kosdaq marginally increased. Australia&#8217;s S&amp;P\/ASX 200 began the week down 1.83%, retracting from its all-time high. However, Hong Kong&#8217;s Hang Seng index defied the trend, gaining 1.28%, and the mainland Chinese CSI 300 rose 0.8%.<\/p>\n\n\n\n<p>In the U.S., all major indexes declined on Friday. Nvidia, an AI darling, had its worst session since late May, finishing down over 5%. Investors analyzed Labor Department data, revealing a 275,000 increase in nonfarm payrolls for the month and a higher jobless rate of 3.9%. The S&amp;P 500 lost 0.65%, the Nasdaq Composite slipped 1.16%, and the Dow Jones Industrial Average relinquished 0.18%, reversing earlier gains to new all-time highs.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>1:30 PM GMT &#8211; JPY PPI y\/y<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Japan led losses in [&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\/68465"}],"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=68465"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68465\/revisions"}],"predecessor-version":[{"id":68466,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68465\/revisions\/68466"}],"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=68465"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=68465"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=68465"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}