{"id":69876,"date":"2024-05-21T16:25:09","date_gmt":"2024-05-21T06:25:09","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=69876"},"modified":"2025-11-10T21:53:06","modified_gmt":"2025-11-10T10:53:06","slug":"tuesday-21st-may-2024-asian-markets-react-to-divergent-trends-from-wall-street","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-21st-may-2024-asian-markets-react-to-divergent-trends-from-wall-street\/","title":{"rendered":"Tuesday 21st May 2024: Asian Markets React to Divergent Trends from Wall Street"},"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 down 0.61%, Hang Seng down 2.23% ASX down 0.15%<\/li>\n\n\n\n<li>Commodities : Gold at $2419.5 (-0.73%), Silver at $31.78 (-2.21%), Brent Oil at $83.17 (-0.58%), WTI Oil at $78.82 (-0.68%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.442, UK 10-year yield at 4.21, Germany 10-year yield at 2.52<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(JPY) Tertiary Industry Activity m\/m -2.4% vs 0.1% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Tuesday witnessed Asia-Pacific markets diverging from Wall Street&#8217;s tech-fueled surge to record highs, notably the Nasdaq. Nvidia&#8217;s shares rose over 2% following bullish analyst calls, projecting significant market gains ahead of its earnings report. Wall Street firms revised Nvidia&#8217;s price targets upward by as much as 30%, signaling confidence in its market dominance. Investors monitored potential impacts on companies within Nvidia&#8217;s supply chain, including TSMC, Foxconn, Samsung Electronics, and SK Hynix.<\/p>\n\n\n\n<p>Across Asia, stock indices fluctuated: South Korea&#8217;s Kospi dropped 0.34%, while Japan&#8217;s Nikkei 225 and Topix indices reversed earlier gains, each down by 0.4% and 0.11%, respectively. Australia&#8217;s S&amp;P\/ASX 200 slipped 0.15% amid deliberations over potential rate hikes by the Reserve Bank of Australia due to inflation risks. Meanwhile, Hong Kong&#8217;s Hang Seng index fell 2.23%, and China&#8217;s CSI300 dropped 0.24%.<\/p>\n\n\n\n<p>In the U.S., the Dow Jones lagged, chiefly due to a 4.5% slump in JPMorgan Chase shares following CEO Jamie Dimon&#8217;s indication of a potential earlier retirement and the bank&#8217;s decision to refrain from share buybacks at current levels. However, the tech-centric Nasdaq closed at a record high, up 0.65%, while the Dow fell 0.49% and the S&amp;P 500 edged up 0.09%.<\/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<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Tuesday witnessed Asia-Pacific markets [&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\/69876"}],"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=69876"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69876\/revisions"}],"predecessor-version":[{"id":69877,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/69876\/revisions\/69877"}],"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=69876"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=69876"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=69876"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}