{"id":70306,"date":"2024-06-12T17:18:21","date_gmt":"2024-06-12T07:18:21","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=70306"},"modified":"2025-11-10T21:48:15","modified_gmt":"2025-11-10T10:48:15","slug":"wednesday-12th-june-2024-asian-markets-react-to-inflation-data-and-await-u-s-fed-decision","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-12th-june-2024-asian-markets-react-to-inflation-data-and-await-u-s-fed-decision\/","title":{"rendered":"Wednesday 12th June 2024: Asian Markets React to Inflation Data and Await U.S. Fed Decision"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.60%, Shanghai Composite up 0.31%, Hang Seng down 1.49% ASX down 0.51%<\/li>\n\n\n\n<li>Commodities : Gold at $2330.5 (0.17%), Silver at $29.48 (0.861%), Brent Oil at $82.13 (0.65%), WTI Oil at $78.71 (0.83%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.40, UK 10-year yield at 4.27, Germany 10-year yield at 2.604<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) Building Permits m\/m 20.5% vs 4.9% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets were mixed on Wednesday as investors assessed inflation data from the region. China&#8217;s inflation rate for May came in at 0.3%, below the 0.4% expectation, remaining unchanged from April. Following this announcement, the Hong Kong Hang Seng index fell 1.45% while the mainland Chinese CSI 300 declined 0.17%. Investors in Asia are also closely watching the U.S. Federal Reserve&#8217;s upcoming decision, set to follow the release of the country&#8217;s May inflation report.<\/p>\n\n\n\n<p>India&#8217;s inflation rate is forecasted to slightly rise to 4.89%, up from April&#8217;s 4.83%, according to a Reuters poll. Meanwhile, the Taiwan Weighted Index gained 1.2%, reaching an all-time high due to positive sentiment around Apple&#8217;s new AI features for its operating system. Taiwan Semiconductor Manufacturing Corp and Hon Hai Precision Industry (Foxconn) both saw gains of over 3%.<\/p>\n\n\n\n<p>In Japan, the Nikkei 225 slipped 0.58% and the Topix dropped 0.74%, despite the country&#8217;s corporate goods inflation rate accelerating to 2.4% in May, its fastest rate since August. South Korea&#8217;s Kospi rose by 0.5% and the small-cap Kosdaq increased by 0.3%, while Australia&#8217;s S&amp;P\/ASX 200 fell 0.5%, extending its losses from Tuesday.<\/p>\n\n\n\n<p>In the U.S., the S&amp;P 500 and the Nasdaq Composite reached new closing highs, driven by Apple&#8217;s surge to a record high. The broad market index gained 0.27%, closing at 5,375.32, and the Nasdaq Composite added 0.88%, ending at 17,343.55. Conversely, the Dow Jones Industrial Average dropped by 0.31%. Investors seemed to be taking profits from Nvidia and shifting their focus to Apple, which recently unveiled new features that could prompt a wave of iPhone upgrades. Apple hit a new record high, jumping nearly 7.3%, while Nvidia saw a 0.7% decline.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; USD Core PPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD PPI m\/m<\/li>\n\n\n\n<li>6:00 PM GMT &#8211; USD Federal Funds Rate<\/li>\n\n\n\n<li>6:00 PM GMT &#8211; USD FOMC Economic Projections<\/li>\n\n\n\n<li>6:00 PM GMT &#8211; USD FOMC Statement<\/li>\n\n\n\n<li>6:00 PM GMT &#8211; USD FOMC Press Conference<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets were mixed [&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\/70306"}],"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=70306"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70306\/revisions"}],"predecessor-version":[{"id":70307,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70306\/revisions\/70307"}],"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=70306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=70306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=70306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}