{"id":68613,"date":"2024-03-18T18:10:42","date_gmt":"2024-03-18T07:10:42","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=68613"},"modified":"2025-11-10T22:04:11","modified_gmt":"2025-11-10T11:04:11","slug":"monday-18th-march-2024-asian-markets-soar-on-strong-economic-data-and-anticipation-of-central-bank-actions","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-18th-march-2024-asian-markets-soar-on-strong-economic-data-and-anticipation-of-central-bank-actions\/","title":{"rendered":"Monday 18th March 2024: Asian markets soar on strong economic data and anticipation of central bank actions"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 2.53%, Shanghai Composite up 0.99%, Hang Seng up 0.31% ASX up 0.07%<\/li>\n\n\n\n<li>Commodities : Gold at $2151.5 (-0.36%), Silver at $25.27 (-0.63%), Brent Oil at $85.53 (0.46%), WTI Oil at $80.9 (0.52%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.302, UK 10-year yield at 4.130, Germany 10-year yield at 2.431<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Import Prices m\/m 0.3% vs 0.3% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>On Monday, Asia-Pacific markets saw significant gains, driven by Japan&#8217;s Nikkei 225 index and continued upward momentum in Chinese shares following strong economic data at the year&#8217;s start. The upcoming Federal Open Market Committee meeting of the U.S. Federal Reserve, starting Tuesday, is expected to maintain benchmark interest rates at 5.25% to 5.5%, according to a Reuters survey. Likewise, the Reserve Bank of Australia is anticipated to keep its cash rate steady at 4.35% after its Tuesday meeting. Conversely, expectations from a Reuters poll suggest the Bank of Japan may raise its benchmark rate from -0.1% to 0% in its Tuesday announcement, signaling a potential exit from its negative interest rate policy.<\/p>\n\n\n\n<p>In Europe, the Bank of England is likely to maintain its rates at 5.25%. Positive economic indicators from China showed retail sales and industrial production exceeding expectations in the first two months of the year, with the urban unemployment rate at 5.3% in February. This led China&#8217;s CSI 300 index to rise by 0.63% after the data release.<\/p>\n\n\n\n<p>In Australia, the S&amp;P\/ASX 200 closed marginally higher at 7,675.80. South Korea&#8217;s Kospi rebounded by 0.72% after a nearly 2% decline on Friday, while the small-cap Kosdaq surged by 1.45%. The Taiwan Weighted index recorded a 1% increase, with shares of Taiwan Semiconductor Manufacturing Company rising by 1.87%. In the U.S. market on Friday, all three major indexes experienced losses due to persistent concerns about inflation ahead of the Federal Reserve&#8217;s policy meeting. The S&amp;P 500 declined by 0.65%, the Dow Jones Industrial Average dipped by 0.49%, and the Nasdaq Composite slipped by 0.96%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; CAD IPPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD RMPI m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: On Monday, Asia-Pacific markets [&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\/68613"}],"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=68613"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68613\/revisions"}],"predecessor-version":[{"id":68614,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68613\/revisions\/68614"}],"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=68613"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=68613"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=68613"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}