{"id":68632,"date":"2024-03-19T17:32:29","date_gmt":"2024-03-19T06:32:29","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=68632"},"modified":"2025-11-10T22:04:02","modified_gmt":"2025-11-10T11:04:02","slug":"tuesday-19th-march-2024-asian-markets-react-as-japan-raises-rates-and-australia-maintains-status-quo","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-19th-march-2024-asian-markets-react-as-japan-raises-rates-and-australia-maintains-status-quo\/","title":{"rendered":"Tuesday 19th March 2024: Asian markets react as Japan raises rates and Australia maintains status quo"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.66%, Shanghai Composite up 0.47%, Hang Seng down 1.14% ASX up 0.36%<\/li>\n\n\n\n<li>Commodities : Gold at $2159.5 (-0.26%), Silver at $25.17 (-0.63%), Brent Oil at $86.53 (-0.26%), WTI Oil at $82.3 (-0.16%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.32, UK 10-year yield at 4.128, Germany 10-year yield at 2.452<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) IPPI m\/m 0.7% vs 0.0% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Japan&#8217;s Nikkei 225 index surged above 40,000 on Tuesday following the Bank of Japan&#8217;s decision to raise interest rates for the first time since 2007. The central bank lifted rates from -0.1% to a range of 0% to 0.1% and abolished its yield curve control policy, marking a significant policy shift. Despite initial volatility, the Nikkei 225 closed 0.66% higher at 40,003.60, while the broader Topix rose by 1.06% to 2,750.97.<\/p>\n\n\n\n<p>Meanwhile, the Reserve Bank of Australia held its benchmark rate steady at 4.35% for the third consecutive meeting, citing persistent high inflation. It expects inflation to take time to return to the target range of 2%-3%. The S&amp;P\/ASX 200 closed 0.36% higher at 7,703.20 after the announcement, extending gains from the previous day.<\/p>\n\n\n\n<p>In other markets, South Korea\u2019s Kospi fell by 0.93%, while the Kosdaq dipped by 0.26%. Hong Kong\u2019s Hang Seng index slid 1.15%, and the mainland Chinese CSI 300 was down 0.35%.<\/p>\n\n\n\n<p>In the U.S., tech companies saw gains, with Nvidia shares rising 0.7% on the first day of its GTC Conference, where advancements in artificial intelligence were showcased. Alphabet shares surged 4.6% following reports that Apple was considering including Google&#8217;s Gemini AI in iPhones. The Dow Jones Industrial Average rose by 0.2%, the S&amp;P 500 gained 0.63%, and the Nasdaq Composite climbed 0.82%, signaling a rebound in all three major indexes.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; CAD CPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Median CPI y\/y<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Trimmed CPI y\/y<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Common CPI y\/y<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Core CPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Building Permits<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Housing Starts<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Japan&#8217;s Nikkei 225 index [&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\/68632"}],"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=68632"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68632\/revisions"}],"predecessor-version":[{"id":68633,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68632\/revisions\/68633"}],"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=68632"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=68632"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=68632"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}