{"id":68512,"date":"2024-03-13T17:17:11","date_gmt":"2024-03-13T06:17:11","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=68512"},"modified":"2025-11-10T22:04:26","modified_gmt":"2025-11-10T11:04:26","slug":"wednesday-13th-march-2024-asian-markets-respond-variedly-to-wall-street-surge-on-inflation-data","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-13th-march-2024-asian-markets-respond-variedly-to-wall-street-surge-on-inflation-data\/","title":{"rendered":"Wednesday 13th March 2024: Asian Markets Respond Variedly to Wall Street Surge on Inflation Data"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.40%, Shanghai Composite down 0.18%, Hang Seng up 0.38% ASX up 0.22%<\/li>\n\n\n\n<li>Commodities : Gold at $2164.5 (-0.26%), Silver at $24.37 (-0.13%), Brent Oil at $82.53 (0.76%), WTI Oil at $78.19 (0.86%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.142, UK 10-year yield at 3.969, Germany 10-year yield at 2.323<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Core CPI m\/m&nbsp; 0.4% vs 0.3% expected<\/li>\n\n\n\n<li>(USD) CPI m\/m&nbsp; 0.4% vs 0.4% expected<\/li>\n\n\n\n<li>(USD) CPI y\/y&nbsp; 3.2% vs 3.1% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets showed a mixed performance following a surge in Wall Street, triggered by U.S. inflation data that closely aligned with expectations. The Bureau of Labor Statistics reported a 0.4% monthly and 3.2% year-over-year increase in the U.S. consumer price index for February, meeting the predictions of economists polled by Dow Jones.<\/p>\n\n\n\n<p>In Australia, the S&amp;P\/ASX 200 continued its upward trend, closing the day 0.22% higher at 7,729.40, building on gains from the previous session. Japan&#8217;s Nikkei 225 initially rose but later retreated by 0.13%, and the Topix also declined by 0.16% after early-session gains.<\/p>\n\n\n\n<p>South Korea&#8217;s Kospi saw a 0.27% increase following a drop in the February unemployment rate to 2.6%, down from January&#8217;s 3%. However, the Kosdaq, a small-cap index, decreased by 0.26%, potentially ending a three-day winning streak.<\/p>\n\n\n\n<p>Hong Kong&#8217;s Hang Seng index extended its gains by 0.3%, building on a 3% increase on the previous day, while the mainland CSI 300 dropped by 0.58%.<\/p>\n\n\n\n<p>In the U.S., all three major indexes recorded gains after the inflation data. The S&amp;P500 reached a new record high of 5,175.27, marking a 1.12% increase. The Nasdaq Composite saw a 1.54% gain, driven by renewed interest in tech stocks, leading to a 7% and 11% surge in the shares of Nvidia and Oracle, respectively. The Dow Jones Industrial Average gained 0.61%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>3:30 PM GMT &#8211; USD Natural Gas Storage<\/li>\n\n\n\n<li>5:01 PM GMT &#8211; USD 30-y Bond Auction<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets showed a [&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\/68512"}],"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=68512"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68512\/revisions"}],"predecessor-version":[{"id":68513,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68512\/revisions\/68513"}],"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=68512"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=68512"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=68512"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}