{"id":70471,"date":"2024-06-21T16:10:27","date_gmt":"2024-06-21T06:10:27","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=70471"},"modified":"2025-11-10T21:46:14","modified_gmt":"2025-11-10T10:46:14","slug":"friday-21th-june-2024-asian-markets-decline-as-japans-inflation-data-misses-expectations","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-21th-june-2024-asian-markets-decline-as-japans-inflation-data-misses-expectations\/","title":{"rendered":"Friday 21th June 2024: Asian Markets Decline as Japan&#8217;s Inflation Data Misses Expectations"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.08%, Shanghai Composite down 0.17%, Hang Seng down 1.22% ASX up 0.34%<\/li>\n\n\n\n<li>Commodities : Gold at $2377.5 (0.37%), Silver at $30.48 (-0.34%), Brent Oil at $85.13 (-0.09%), WTI Oil at $81.61 (-0.01%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.26, UK 10-year yield at 4.08, Germany 10-year yield at 2.421<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(GBP) Official Bank Rate 5.25% vs 5.25% expected<\/li>\n\n\n\n<li>(USD) Unemployment Claims 238K vs 235K expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets declined on Friday after Japan&#8217;s May core inflation data came in at 2.5%, slightly below the expected 2.6%. The &#8220;core-core&#8221; inflation rate, excluding fresh food and energy, was 2.1%, down from April&#8217;s 2.4%. The overall inflation rate increased to 2.8% from 2.5% in April. The Nikkei 225 was stable, and the Topix rose 0.15%. Softbank shares dropped 2.87% after CEO Masayoshi Son mentioned needing &#8220;immense capital&#8221; for AI robotics development. The yen weakened for the seventh day, reaching 158.95 against the U.S. dollar, with Japan&#8217;s government ready to intervene in the volatile currency market.<\/p>\n\n\n\n<p>India&#8217;s Nifty 50 index rose 0.1%, setting a new record high, and the HSBC flash Composite Purchasing Managers\u2019 Index for India increased to 60.9 in June from 60.5 in May. South Korea&#8217;s Kospi fell 0.94%, and the Kosdaq dropped 0.54%. South Korea and Japan&#8217;s finance ministers will meet on June 25 to discuss cooperation and global economic views. Mainland China&#8217;s CSI 300 index decreased by 0.60%, and Hong Kong&#8217;s Hang Seng index fell 1.21%. Australia&#8217;s S&amp;P\/ASX 200 index edged up by 0.34%.<\/p>\n\n\n\n<p>In the U.S., the S&amp;P 500 closed 0.25% lower after reaching a new high, the Nasdaq Composite declined 0.79%, and the Dow Jones Industrial Average increased 0.77%. Nvidia&#8217;s stock slipped 3.5% after an earlier rise in the trading day.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; CAD Core Retail Sales m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Retail Sales m\/m<\/li>\n\n\n\n<li>1:45 PM GMT &#8211; USD Flash Manufacturing PMI<\/li>\n\n\n\n<li>1:45 PM GMT &#8211; USD Flash Services PMI<\/li>\n\n\n\n<li>2:00 PM GMT &#8211; USD Existing Home Sales<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets declined on [&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\/70471"}],"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=70471"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70471\/revisions"}],"predecessor-version":[{"id":70472,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70471\/revisions\/70472"}],"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=70471"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=70471"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=70471"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}