{"id":69844,"date":"2024-05-20T16:38:33","date_gmt":"2024-05-20T06:38:33","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=69844"},"modified":"2025-11-10T21:53:17","modified_gmt":"2025-11-10T10:53:17","slug":"monday-20th-may-2024-asian-markets-rally-as-investors-await-regional-economic-data","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-20th-may-2024-asian-markets-rally-as-investors-await-regional-economic-data\/","title":{"rendered":"Monday 20th May 2024: Asian markets rally as investors await regional economic data"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.40%, Shanghai Composite up 0.48%, Hang Seng up 0.67% ASX up 0.63%<\/li>\n\n\n\n<li>Commodities : Gold at $2439.5 (0.93%), Silver at $31.78 (2.21%), Brent Oil at $84.07 (0.48%), WTI Oil at $79.82 (0.38%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.42, UK 10-year yield at 4.16, Germany 10-year yield at 2.53<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) CB Leading Index m\/m -0.6% vs -0.3% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets mirrored Wall Street&#8217;s gains on Monday, with investors awaiting regional economic data. China kept its one- and five-year loan prime rates steady at 3.45% and 3.95%, respectively, after introducing measures to stimulate the property market. Hong Kong&#8217;s Hang Seng index rose by 0.67%, while China&#8217;s CSI300 gained 0.42%.&nbsp;<\/p>\n\n\n\n<p>South Korea&#8217;s Kospi rose by 1.09%, but the Kosdaq slipped by 1.02%. Singapore and Japan are set to release trade, inflation, and GDP data later in the week. Taiwan&#8217;s new president, Lai Ching-te, took office, with the Taiwan Weighted Index showing marginal gains. In Australia, the S&amp;P\/ASX 200 advanced by 0.63%.<\/p>\n\n\n\n<p>In the U.S. on Friday, the Dow Jones Industrial Average closed above 40,000 for the first time, ending at 40,003.59. The S&amp;P 500 edged 0.1% higher, while the Nasdaq Composite slipped slightly. Tom Lee of Fundstrat Global Advisors predicts continued short-term market rally, citing events like Microsoft Build and Nvidia&#8217;s fiscal first-quarter results as potential catalysts.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>1:00 PM GMT &#8211; USD FOMC Member Waller Speaks<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets mirrored Wall [&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\/69844"}],"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=69844"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69844\/revisions"}],"predecessor-version":[{"id":69845,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69844\/revisions\/69845"}],"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=69844"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=69844"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=69844"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}