{"id":70016,"date":"2024-05-29T16:32:22","date_gmt":"2024-05-29T06:32:22","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=70016"},"modified":"2025-11-10T21:51:29","modified_gmt":"2025-11-10T10:51:29","slug":"wednesday-29th-may-2024-asian-markets-mixed-as-investors-digest-economic-data","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-29th-may-2024-asian-markets-mixed-as-investors-digest-economic-data\/","title":{"rendered":"Wednesday 29th May 2024: Asian Markets Mixed as Investors Digest Economic Data"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.87%, Shanghai Composite down 0.03%, Hang Seng down 1.71% ASX down 1.30%<\/li>\n\n\n\n<li>Commodities : Gold at $2353.5 (-0.143%), Silver at $32.28 (0.31%), Brent Oil at $84.17 (0.25%), WTI Oil at $80.02 (0.33%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.56, UK 10-year yield at 4.31, Germany 10-year yield at 2.64<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) IPPI m\/m 1.5% vs 0.8% expected<\/li>\n\n\n\n<li>(CAD) RMPI m\/m 5.5% vs 3.1% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Mixed trading characterized Asia-Pacific markets as investors processed Australia\u2019s robust April inflation data and awaited Japan\u2019s economic indicators. Australia\u2019s consumer price index surged 3.6% year-on-year, exceeding expectations and prompting speculation about potential shifts in monetary policy. The S&amp;P\/ASX 200 dipped by nearly 1% in response.<\/p>\n\n\n\n<p>In Japan, the Nikkei 225 and Topix initially traded higher but ultimately declined, with the former dropping by 0.41% and the latter by 0.48%. South Korea&#8217;s Kospi and Kosdaq also experienced losses, falling by 0.9% and 0.75%, respectively. Hong Kong\u2019s Hang Seng index recorded a 1.7% decline, contrasting with mainland China\u2019s CSI 300, which rose by 0.35%.<\/p>\n\n\n\n<p>In the U.S., the Nasdaq Composite surged to a new record above 17,000, led by a 7% jump in Nvidia. However, the broader market saw modest gains, with the S&amp;P 500 edging up by just 0.02%, while the Dow Jones Industrial Average slipped by 0.55%. The Dow&#8217;s decline was attributed to drops in healthcare stocks like Merck. Overall, more than 350 stocks in the S&amp;P 500 ended the session in negative territory, with significant losses in the healthcare, industrials, and financial sectors.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>2:00 PM GMT &#8211; USD Richmond Manufacturing Index<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Mixed trading characterized Asia-Pacific [&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\/70016"}],"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=70016"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70016\/revisions"}],"predecessor-version":[{"id":70017,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70016\/revisions\/70017"}],"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=70016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=70016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=70016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}