{"id":71469,"date":"2024-08-14T15:59:53","date_gmt":"2024-08-14T05:59:53","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=71469"},"modified":"2025-11-10T21:34:41","modified_gmt":"2025-11-10T10:34:41","slug":"wednesday-14th-august-2024-asian-markets-mixed-on-rate-cut-and-japan-leadership-change","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-14th-august-2024-asian-markets-mixed-on-rate-cut-and-japan-leadership-change\/","title":{"rendered":"Wednesday 14th August 2024: Asian Markets Mixed on Rate Cut and Japan Leadership Change"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.75%, Shanghai Composite down 0.45%, Hang Seng down 0.43% ASX up 0.31%<\/li>\n\n\n\n<li>Commodities : Gold at $2500.35 (0.30%), Silver at $27.7 (-0.04%), Brent Oil at $81.22 (0.66%), WTI Oil at $78.9 (0.74%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.853, UK 10-year yield at 3.891, Germany 10-year yield at 2.183<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Core PPI m\/m&nbsp; 0.0% vs 0.2% expected<\/li>\n\n\n\n<li>(USD) PPI m\/m&nbsp; 0.1% vs 0.2% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets showed mixed performance on Wednesday. The Reserve Bank of New Zealand unexpectedly cut its benchmark lending rate to 5.25%, despite economists predicting it would remain at 5.5%. In Japan, Prime Minister Fumio Kishida announced he would step down in September and would not seek reelection as the Liberal Democratic Party leader, according to Reuters.<\/p>\n\n\n\n<p>In South Korea, the unemployment rate fell to 2.5% in July, its lowest since October 2023. However, business sentiment in Japan&#8217;s manufacturing sector slightly declined in August, as reflected in the Reuters Tankan survey. The sentiment index for manufacturers dropped to +10, down from +11 in July, while the non-manufacturers index also decreased.<\/p>\n\n\n\n<p>Japan\u2019s Nikkei 225 rose 0.7% following Kishida\u2019s announcement, and the Topix gained 0.87%. South Korea\u2019s Kospi increased by 0.71%, with the small-cap Kosdaq up 1.62%. Australia\u2019s S&amp;P\/ASX 200 saw a more modest rise of 0.65%. Meanwhile, the Australian Securities and Investments Commission sued the ASX for making misleading statements regarding its CHESS project, which was not progressing as claimed.<\/p>\n\n\n\n<p>Hong Kong\u2019s Hang Seng index dipped by 0.4%, and mainland China&#8217;s CSI 300 fell by 0.61%. In the U.S., stocks rallied as the producer price index rose by just 0.1% in July, below expectations. The Dow Jones climbed 1.04%, the Nasdaq Composite jumped 2.43%, and the S&amp;P 500 gained 1.68%, approaching record levels from July. Investors now await the July consumer price index figures due Wednesday.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; USD Core CPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD CPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD CPI y\/y<\/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],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71469"}],"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=71469"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71469\/revisions"}],"predecessor-version":[{"id":71470,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71469\/revisions\/71470"}],"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=71469"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=71469"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=71469"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}