{"id":70568,"date":"2024-06-27T16:37:50","date_gmt":"2024-06-27T06:37:50","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=70568"},"modified":"2025-11-10T21:44:46","modified_gmt":"2025-11-10T10:44:46","slug":"thursday-27th-june-2024-asian-markets-open-lower-amid-yen-weakness","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/thursday-27th-june-2024-asian-markets-open-lower-amid-yen-weakness\/","title":{"rendered":"Thursday 27th June 2024: Asian Markets Open Lower Amid Yen Weakness"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 1.00%, Shanghai Composite down 0.61%, Hang Seng down 1.92% ASX down 0.30%<\/li>\n\n\n\n<li>Commodities : Gold at $2313.5 (-0.03%), Silver at $29.18 (-0.54%), Brent Oil at $84.43 (-0.09%), WTI Oil at $80.31 (-0.17%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.336, UK 10-year yield at 4.167, Germany 10-year yield at 2.465<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) New Home Sales 619K vs 636K expected<\/li>\n\n\n\n<li>(USD) Crude Oil Inventories 3.6M vs -2.6M expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets opened lower on Thursday as the Japanese yen weakened to a near 38-year low, hitting 160.82 against the U.S. dollar. Two months ago, the yen breached the 160 level, prompting Japan&#8217;s first currency intervention since 2022. Finance Minister Shunichi Suzuki expressed concerns about the economic impact of foreign exchange fluctuations.<\/p>\n\n\n\n<p>Japan&#8217;s retail sales growth for May was 3% year-on-year, surpassing the market forecast of 2%. Meanwhile, China&#8217;s industrial profits grew 3.4% year-on-year from January to May, reaching 2.75 trillion Chinese yuan ($378.41 million). For the first four months of this year, China&#8217;s industrial profits had risen by 4.3%.<\/p>\n\n\n\n<p>In the stock markets, Japan&#8217;s Nikkei 225 declined by 1% and the Topix lost 0.5%. Hong Kong&#8217;s Hang Seng index led regional losses, dropping more than 2%, while Mainland China&#8217;s CSI 300 fell 0.41%. South Korea&#8217;s Kospi decreased by 0.48%, and the small-cap Kosdaq was 0.37% lower. Australia&#8217;s S&amp;P\/ASX 200 closed down 0.35%.<\/p>\n\n\n\n<p>In the U.S. overnight, the Dow Jones Industrial Average gained 0.04%, the S&amp;P 500 rose 0.16%, and the Nasdaq Composite increased by 0.49%, led by Amazon shares, which jumped 3.9%. Amazon reached an all-time high and a market value of $2 trillion for the first time, joining the ranks of Nvidia, Apple, Alphabet, and Microsoft.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; USD Final GDP q\/q<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n\n\n\n<li>2:00 PM GMT &#8211; USD Pending Home Sales m\/m<\/li>\n\n\n\n<li>2:30 PM GMT &#8211; USD Natural Gas Storage<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets opened lower [&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\/70568"}],"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=70568"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70568\/revisions"}],"predecessor-version":[{"id":70574,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70568\/revisions\/70574"}],"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=70568"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=70568"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=70568"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}