{"id":71138,"date":"2024-07-26T16:44:08","date_gmt":"2024-07-26T06:44:08","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=71138"},"modified":"2025-11-10T21:38:31","modified_gmt":"2025-11-10T10:38:31","slug":"friday-26th-july-2024-asia-pacific-markets-recover-after-sell-off","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-26th-july-2024-asia-pacific-markets-recover-after-sell-off\/","title":{"rendered":"Friday 26th July 2024: Asia-Pacific Markets Recover After Sell-Off"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.64%, Shanghai Composite down 0.18%, Hang Seng up 0.14% ASX up 0.76%<\/li>\n\n\n\n<li>Commodities : Gold at $2366.35 (0.47%), Silver at $27.81 (-0.45%), Brent Oil at $82.43 (0.07%), WTI Oil at $78.39 (0.08%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.257, UK 10-year yield at 4.138, Germany 10-year yield at 2.442<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Advance GDP q\/q&nbsp; 2.8% vs 2.0% expected<\/li>\n\n\n\n<li>(USD) Unemployment Claims&nbsp; 235K vs 237K expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets rebounded on Friday after Thursday\u2019s sell-off hit multi-month lows for several indexes. Traders assessed Tokyo&#8217;s July inflation data, a key indicator of national trends. Tokyo\u2019s headline inflation dipped to 2.2% in July from 2.3% in May, with core inflation steady at 2.2%. The \u201ccore-core\u201d inflation, excluding fresh food and energy, fell to 1.5% from 1.8%. The yen strengthened sharply against the dollar, now trading at 153.79.<\/p>\n\n\n\n<p>Japan&#8217;s Nikkei 225 was nearly flat, while the Topix rose 0.25%. Renesas Electronics plunged over 6%, reaching its lowest price since April, following a 29% drop in net profit for the first half of the year. This resulted in a 760 billion yen ($4.9 billion) market cap loss on Thursday. Nissan fell 3.92% after dismal Q1 results, with a 99% drop in operating profit and a 72.9% fall in net profit. Honda, however, rose 0.91% on plans to close a factory in China and increase electric vehicle production.<\/p>\n\n\n\n<p>Taiwan&#8217;s market returned post-typhoon, with the Taiwan Weighted Index plunging 3.33%. Heavyweights Hon Hai Precision and Taiwan Semiconductor Manufacturing fell 4.71% and 5.52%, respectively. South Korea\u2019s Kospi rose 0.62%, while Australia\u2019s S&amp;P\/ASX 200 increased 0.76%. Hong Kong\u2019s Hang Seng index climbed 0.14%, and mainland China\u2019s CSI 300 traded flat.<\/p>\n\n\n\n<p>Singapore\u2019s monetary authority maintained its policy, keeping exchange rate settings unchanged. In the U.S., tech stocks continued to slide, with the S&amp;P 500 and Nasdaq Composite losing 0.51% and 0.93% respectively, while the Dow Jones rose 0.2%. Adam Sarhan of 50 Park Investments noted this is part of a typical &#8220;great mini rotation&#8221; in a bull market.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; USD Core PCE Price Index m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Personal Income m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Personal Spending m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets rebounded 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\/71138"}],"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=71138"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71138\/revisions"}],"predecessor-version":[{"id":71150,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71138\/revisions\/71150"}],"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=71138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=71138"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=71138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}