{"id":69652,"date":"2024-05-08T19:38:36","date_gmt":"2024-05-08T09:38:36","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=69652"},"modified":"2025-11-10T21:55:36","modified_gmt":"2025-11-10T10:55:36","slug":"wednesday-8th-may-2024-asian-markets-see-decline-amidst-earnings-reports","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-8th-may-2024-asian-markets-see-decline-amidst-earnings-reports\/","title":{"rendered":"Wednesday 8th May 2024: Asian Markets See Decline Amidst Earnings Reports"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 1.54%, Shanghai Composite down 0.61%, Hang Seng down 0.90% ASX up 0.14%<\/li>\n\n\n\n<li>Commodities : Gold at $2316.5 (-0.35%), Silver at $27.35 (-0.66%), Brent Oil at $81.81 (-1.68%), WTI Oil at $77.00 (-1.75%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.47, UK 10-year yield at 4.18, Germany 10-year yield at 2.44<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(EUR) Retail Sales m\/m 0.8% vs 0.6% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets experienced a downturn led by Japan, where the Nikkei 225 dropped 1.63% and the broader Topix fell 1.45%. This decline followed earnings reports from Japanese giants Toyota Motor and Mitsubishi. Meanwhile, Singapore&#8217;s United Overseas Bank saw a 2.9% decrease despite surpassing estimates with a first-quarter net profit of 1.47 billion Singapore dollars.<\/p>\n\n\n\n<p>Investor attention turned to upcoming data releases, including China&#8217;s April trade figures and Japan&#8217;s March pay numbers. Hong Kong&#8217;s Hang Seng index fell 0.77%, while China&#8217;s CSI 300 index closed approximately 0.8% lower. South Korea saw a notable debut as shares of ship maintenance firm HD Hyundai Marine Solution nearly doubled, marking the country&#8217;s largest IPO since January 2022.<\/p>\n\n\n\n<p>In South Korea, the Kospi climbed 0.39% to reach its highest level in over a month, while the Kosdaq also rose 0.13%, hitting a month-high level. Meanwhile, Australia&#8217;s S&amp;P\/ASX 200 edged up 0.14%, extending its five-day winning streak.<\/p>\n\n\n\n<p>Overnight in the U.S., the Dow Jones Industrial Average continued its fifth consecutive day of gains. The S&amp;P 500 saw a slight increase of 0.13%, while the Nasdaq Composite slipped 0.1%.<\/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<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets experienced 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\/69652"}],"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=69652"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69652\/revisions"}],"predecessor-version":[{"id":69653,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69652\/revisions\/69653"}],"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=69652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=69652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=69652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}