{"id":69192,"date":"2024-04-17T16:35:18","date_gmt":"2024-04-17T06:35:18","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=69192"},"modified":"2025-11-10T21:59:03","modified_gmt":"2025-11-10T10:59:03","slug":"wednesday-17th-april-2024-asian-markets-react-to-trade-data-and-powells-remarks","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-17th-april-2024-asian-markets-react-to-trade-data-and-powells-remarks\/","title":{"rendered":"Wednesday 17th April 2024: Asian Markets React to Trade Data and Powell&#8217;s Remarks"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.90%, Shanghai Composite up 1.23%, Hang Seng down 0.72% ASX down 0.46%<\/li>\n\n\n\n<li>Commodities : Gold at $2375.5 (0.06%), Silver at $28.67 (1.02%), Brent Oil at $89.73 (-0.78%), WTI Oil at $84.97 (-0.84%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.58, UK 10-year yield at 4.24, Germany 10-year yield at 2.411<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) CPI m\/m 0.6% vs 0.7% expected<\/li>\n\n\n\n<li>(USD) Building Permits 1.46M vs 1.51M expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets had a mixed day after Tuesday&#8217;s broad sell-off, with investors closely eyeing trade data from Japan and Singapore. Singapore&#8217;s non-oil domestic exports plunged 20.7% in March, a significant miss from economists&#8217; expectations of a 7% decline. U.S. Federal Reserve Chair Jerome Powell&#8217;s remarks on the lack of progress toward the 2% inflation goal this year tempered investor sentiment.<\/p>\n\n\n\n<p>In Japan, the Nikkei 225 initially gained ground but later slipped by 0.90%, while the broader Topix index saw a larger decline of 1.03%. The Reuters Tankan index indicated a drop in business optimism for April. South Korea&#8217;s Kospi extended losses by 0.49%, while the small-cap Kosdaq rose by 0.47%. Australia&#8217;s S&amp;P\/ASX 200 recorded a modest uptick of 0.14%.<\/p>\n\n\n\n<p>The CSI 300 index in mainland China fell by 0.17%. In the U.S., the Dow Jones Industrial Average rose by 0.17%, ending a six-day streak of losses, lifted by gains in UnitedHealth shares. However, the S&amp;P 500 declined by 0.21% and the Nasdaq Composite shed 0.12%. Powell&#8217;s comments briefly spiked the 2-year U.S. Treasury yield above 5%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>2:30 PM GMT &#8211; USD Crude Oil Inventories<\/li>\n\n\n\n<li>4:00 PM GMT &#8211; GBP BOE Gov Bailey Speaks<\/li>\n\n\n\n<li>6:00 PM GMT &#8211; EUR ECB President Lagarde Speaks<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets had 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\/69192"}],"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=69192"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69192\/revisions"}],"predecessor-version":[{"id":69202,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69192\/revisions\/69202"}],"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=69192"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=69192"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=69192"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}