{"id":70530,"date":"2024-06-26T16:50:13","date_gmt":"2024-06-26T06:50:13","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=70530"},"modified":"2025-11-10T21:44:54","modified_gmt":"2025-11-10T10:44:54","slug":"wednsday-26th-june-2024-asian-markets-mixed-amid-rising-australian-inflation","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednsday-26th-june-2024-asian-markets-mixed-amid-rising-australian-inflation\/","title":{"rendered":"Wednsday 26th June 2024: Asian Markets Mixed Amid Rising Australian Inflation"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 1.26%, Shanghai Composite up 0.71%, Hang Seng up 0.42% ASX down 0.71%<\/li>\n\n\n\n<li>Commodities : Gold at $2327.5 (-0.17%), Silver at $29.28 (0.24%), Brent Oil at $84.73 (0.49%), WTI Oil at $81.31 (0.67%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.266, UK 10-year yield at 4.107, Germany 10-year yield at 2.415<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) CPI m\/m 0.6%&nbsp; vs 0.3% expected<\/li>\n\n\n\n<li>(CAD) Core CPI m\/m 0.6% vs 0.2% expected<\/li>\n\n\n\n<li>(USD) CB Consumer Confidence 100.4 vs 100.0 expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets showed mixed results on Wednesday, influenced by Australia&#8217;s rising inflation and a surge in semiconductor stocks following Nvidia&#8217;s overnight rally. Australia&#8217;s headline inflation rate for May reached 4%, up from 3.6% in April, with core inflation also hitting 4%, exceeding the 3.8% forecast by economists. The higher-than-expected inflation may prompt the Reserve Bank of Australia (RBA) to consider raising interest rates, as recently discussed by RBA Governor Michelle Bullock.<\/p>\n\n\n\n<p>Singapore&#8217;s factory output data for May, set to be released on Wednesday, is predicted to show a 2% year-on-year growth according to a Reuters poll of economists, compared to a 1.6% decline in April. Australia\u2019s S&amp;P\/ASX 200 fell by 1.03%, weighed down by losses in non-energy minerals and retail trade sectors. Japan\u2019s Nikkei 225 rose by 1.26% in morning trading, and the Topix index increased by 0.64%. South Korea\u2019s Kospi gained 0.25%, while the Kosdaq remained nearly flat.<\/p>\n\n\n\n<p>Semiconductor and related stocks saw significant gains: Advantest surged over 6%, while Taiwan Semiconductor Manufacturing Company, SK Hynix, and MediaTek rose by 1.38%, 4%, and 3.25%, respectively. Samsung Electronics, however, dropped by more than 0.2%. These gains followed a strong performance by Nvidia, whose shares closed 6.76% higher on Tuesday. Hong Kong&#8217;s Hang Seng index and mainland China\u2019s CSI 300 both experienced slight declines.<\/p>\n\n\n\n<p>In the U.S., the Dow Jones Industrial Average fell by 0.76%, closing at 39,112.16. The S&amp;P 500 gained 0.39%, and the Nasdaq Composite advanced 1.26%, both ending three-day losing streaks, led by Nvidia&#8217;s rebound.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>2:00 PM GMT &#8211; USD New Home Sales<\/li>\n\n\n\n<li>2:30 PM GMT &#8211; USD Crude Oil Inventories<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets showed 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\/70530"}],"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=70530"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70530\/revisions"}],"predecessor-version":[{"id":70553,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70530\/revisions\/70553"}],"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=70530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=70530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=70530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}