{"id":71428,"date":"2024-08-12T14:20:19","date_gmt":"2024-08-12T04:20:19","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=71428"},"modified":"2025-11-10T21:35:44","modified_gmt":"2025-11-10T10:35:44","slug":"tuesday-13th-august-2024-asia-pacific-rally-led-by-japans-market-surge","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-13th-august-2024-asia-pacific-rally-led-by-japans-market-surge\/","title":{"rendered":"Tuesday 13th August 2024: Asia-Pacific Rally Led by Japan&#8217;s Market Surge"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 3.34%, Shanghai Composite up 0.34%, Hang Seng up 0.36% ASX up 0.17%<\/li>\n\n\n\n<li>Commodities : Gold at $2501.35 (0.10%), Silver at $27.8 (-0.74%), Brent Oil at $81.93 (-0.47%), WTI Oil at $79.6 (-0.5%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.918, UK 10-year yield at 3.967, Germany 10-year yield at 2.224<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Federal Budget Balance&nbsp; -243.7B vs -238.1B expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Japan&#8217;s major indexes surged on Tuesday as trading resumed after a holiday, with the Nikkei 225 jumping 3.4% to 36,232.51, breaching 36,000 for the first time since early August. The Topix index also rose 2.83% to 2,553.55. Gains were led by the technology and financial sectors, with Rakuten Group and Trend Micro soaring 9.22% and 6.37%, respectively. Japan&#8217;s parliament is set to discuss the Bank of Japan&#8217;s recent interest rate hike in a special session next week.<\/p>\n\n\n\n<p>In other economic news, Japan&#8217;s producer price index increased by 3% in July year-on-year, slightly up from June&#8217;s 2.9%. Elsewhere in Asia, South Korea&#8217;s Kospi edged up 0.12% to 2,621.50, while the Kosdaq fell 1.02%. Australia&#8217;s S&amp;P\/ASX 200 inched up 0.17% to 7,826.8, despite wages growing at their slowest pace in a year, rising 0.8% in the June quarter.<\/p>\n\n\n\n<p>China&#8217;s CSI 300 index gained 0.26% to close at 3,334.39, while Hong Kong&#8217;s Hang Seng index rose 0.32% in late trading. Singapore reported 2.9% economic growth in the second quarter, in line with earlier estimates, driven by strength in wholesale trade, finance, and information sectors. The city-state also projected GDP growth of 2% to 3% for 2024.<\/p>\n\n\n\n<p>In the U.S., markets had a mixed session as investors awaited key inflation data. The S&amp;P 500 stayed flat, while the Nasdaq rose 0.21%, buoyed by Nvidia&#8217;s 4% gain. The Dow Jones fell 0.36%, closing at 39,357.01.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; USD Core PPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD PPI m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Japan&#8217;s major indexes surged [&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\/71428"}],"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=71428"}],"version-history":[{"count":3,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71428\/revisions"}],"predecessor-version":[{"id":71455,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71428\/revisions\/71455"}],"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=71428"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=71428"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=71428"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}