{"id":68877,"date":"2024-04-02T18:00:52","date_gmt":"2024-04-02T07:00:52","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=68877"},"modified":"2025-11-10T22:01:05","modified_gmt":"2025-11-10T11:01:05","slug":"tuesday-2nd-april-2024-asian-markets-surge-on-xiaomi-boost","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-2nd-april-2024-asian-markets-surge-on-xiaomi-boost\/","title":{"rendered":"Tuesday 2nd April 2024: Asian Markets Surge on Xiaomi Boost"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.06%, Shanghai Composite down 0.23%, Hang Seng up 2.06% ASX down 0.11%<\/li>\n\n\n\n<li>Commodities : Gold at $2272.5 (0.76%), Silver at $25.47 (1.92%), Brent Oil at $88.03 (0.62%), WTI Oil at $84.75 (0.64%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.31, UK 10-year yield at 3.95, Germany 10-year yield at 2.352<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) ISM Manufacturing PMI 50.3 vs 48.3 expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asian-Pacific markets witnessed a surge led by Hong Kong stocks, driven by a notable increase in Xiaomi shares. The Hang Seng index climbed by 2.06% following a long weekend, with Xiaomi shares rising nearly 15% after the company initiated orders for its new electric vehicle. Meanwhile, investors analyzed economic data from South Korea and Australia. South Korea&#8217;s inflation rate for March held steady at 3.1%, in line with economists&#8217; expectations. Australia experienced a contraction in factory activity, marking its fastest decline since May 2020, with the purchasing managers&#8217; index dropping to 47.3 in March from 47.8 in February.<\/p>\n\n\n\n<p>China&#8217;s CSI 300 index traded 0.25% lower amidst the regional market movements. South Korea&#8217;s Kospi index was up by 0.12%, but the Kosdaq slid 2.24% following the inflation data. In Australia, the S&amp;P\/ASX 200 slipped by 0.14% to 7,886, retracting from recent all-time highs. Japan&#8217;s Nikkei 225 saw a slight rebound, gaining 0.06%, while the broader Topix index was down by 0.29%.<\/p>\n\n\n\n<p>Later in the day, economists anticipated stronger PMI reading of 59.4 from India&#8217;s factory activity data. In the U.S. overnight, the three major indexes closed with mixed results, as the benchmark 10-year Treasury yield rose by 13 basis points to 4.319%. The Dow Jones Industrial Average lost 0.6%, the S&amp;P 500 dipped by 0.2%, and the tech-heavy Nasdaq Composite added 0.11%. Overall, market sentiment remained mixed amidst various economic indicators and regional developments.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>2:00 PM GMT &#8211; USD JOLTS Job Openings<\/li>\n\n\n\n<li>2:00 PM GMT &#8211; USD Factory Orders m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asian-Pacific markets witnessed 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\/68877"}],"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=68877"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68877\/revisions"}],"predecessor-version":[{"id":68878,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/68877\/revisions\/68878"}],"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=68877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=68877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=68877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}