{"id":70797,"date":"2024-07-09T16:30:37","date_gmt":"2024-07-09T06:30:37","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=70797"},"modified":"2025-11-10T21:42:29","modified_gmt":"2025-11-10T10:42:29","slug":"tuesday-9th-july-2024-asian-markets-surge-amid-global-record-highs-and-strategic-investments","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-9th-july-2024-asian-markets-surge-amid-global-record-highs-and-strategic-investments\/","title":{"rendered":"Tuesday 9th July 2024: Asian Markets Surge Amid Global Record Highs and Strategic Investments"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 1.92%, Shanghai Composite up 1.27%, Hang Seng up 0.31% ASX up 0.86%<\/li>\n\n\n\n<li>Commodities : Gold at $2370.5 (0.27%), Silver at $31.28 (1.34%), Brent Oil at $85.83 (-0.07%), WTI Oil at $82.31 (-0.07%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.281, UK 10-year yield at 4.149, Germany 10-year yield at 2.526<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Consumer Credit m\/m&nbsp; 11.4B vs 9.7B expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets rose on Tuesday, following record highs for the S&amp;P 500 and Nasdaq Composite in the U.S. overnight. Japan\u2019s Nikkei 225 climbed 2.36% to 41,745.64, setting a new record, while the Topix increased 1.34% to 2,906. South Korea\u2019s Kospi edged up 0.23%, with shares of Samsung Electronics rising 0.11% despite a continuing union strike. Meanwhile, Hyundai reached a tentative wage agreement with its labor union, preventing a strike, though its shares fell 3.53%.<\/p>\n\n\n\n<p>Hong Kong\u2019s Hang Seng Index gained 0.3%, and the CSI 300 advanced 0.68%. Chinese electric vehicle giant BYD announced plans to invest $1 billion in Turkey to build a plant with an annual capacity of 150,000 vehicles. The facility is expected to start production at the end of 2026 and will employ up to 5,000 people. This announcement follows the European Union\u2019s decision last week to raise tariffs on electric vehicles imported from China.<\/p>\n\n\n\n<p>Australia\u2019s S&amp;P\/ASX 200 rose 0.86%, despite a 1.1% dip in consumer sentiment for July. Australia\u2019s business confidence improved by 6 points to +4, according to the National Australia Bank. \u201cBusiness confidence rose relatively sharply in the month and is now back into positive territory, reaching its highest level since early 2023,\u201d said NAB\u2019s Head of Australian Economics, Gareth Spence.<\/p>\n\n\n\n<p>Investors are anticipating the release of the U.S. consumer price index on Thursday for indications on the Federal Reserve\u2019s interest rate decisions. China\u2019s inflation data, set to be released on Wednesday, will offer insights into the country\u2019s economic recovery. In the U.S., the S&amp;P 500 and Nasdaq hit record highs overnight, and traders are watching for earnings reports from major financial and consumer companies this week.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>2:00 PM GMT &#8211; USD Fed Chair Powell Testifies<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets rose 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\/70797"}],"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=70797"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70797\/revisions"}],"predecessor-version":[{"id":70798,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/70797\/revisions\/70798"}],"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=70797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=70797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=70797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}