{"id":71827,"date":"2024-09-05T16:14:56","date_gmt":"2024-09-05T06:14:56","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=71827"},"modified":"2025-11-10T21:30:33","modified_gmt":"2025-11-10T10:30:33","slug":"thursday-5th-september-2024-asia-pacific-markets-mixed-amid-japans-wage-data","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/thursday-5th-september-2024-asia-pacific-markets-mixed-amid-japans-wage-data\/","title":{"rendered":"Thursday 5th September 2024: Asia-Pacific Markets Mixed Amid Japan&#8217;s Wage Data"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 1.03%, Shanghai Composite down 0.17%, Hang Seng down 0.48% ASX up 0.31%<\/li>\n\n\n\n<li>Commodities : Gold at $2527.35 (0.09%), Silver at $28.5 (0.31%), Brent Oil at $72.90 (0.49%), WTI Oil at $69.2 (0.48%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.764, UK 10-year yield at 3.936, Germany 10-year yield at 2.2173<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) Overnight Rate&nbsp; 4.25%&nbsp; vs 4.25% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets experienced mixed results on Thursday following a sell-off in the previous session. Japan\u2019s Nikkei 225 dropped nearly 1%, while the broader Topix saw a slight gain. This movement followed the release of Japan\u2019s July wage data, which showed a 3.6% year-on-year increase in average monthly earnings, a softer rise compared to June\u2019s 4.5%. Real wages grew by 0.4%, continuing an upward trend. The positive wage report could provide the Bank of Japan with more room to raise interest rates, potentially putting pressure on equities.<\/p>\n\n\n\n<p>Meanwhile, South Korea\u2019s Kospi fell slightly, and the Kosdaq lost 1%, though SK Hynix shares jumped 3.36% on news of plans to start mass-producing HBM3E chips by September\u2019s end. Australia\u2019s S&amp;P\/ASX 200 rose 0.3%, supported by a 0.7% increase in exports for July, while imports declined.<\/p>\n\n\n\n<p>Hong Kong\u2019s Hang Seng index slipped 0.48%, and China\u2019s CSI 300 edged up. Optimism grew among Chinese developers as reports indicated potential interest rate cuts to support the struggling property sector. China Vanke shares rose 1.5%, and Logan Group gained 1.32%.<\/p>\n\n\n\n<p>In the U.S., both the S&amp;P 500 and the Nasdaq Composite recorded their second consecutive day of losses, down 0.16% and 0.3%, respectively, while the Dow Jones Industrial Average managed a small gain of 0.09%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:15 PM GMT &#8211; USD ADP Non-Farm Employment Change<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Labor Productivity q\/q<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n\n\n\n<li>1:45 PM GMT &#8211; USD Final Services PMI<\/li>\n\n\n\n<li>2:00 PM GMT &#8211; USD ISM Services PMI<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets experienced mixed [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":79815,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[196,215,339],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71827"}],"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=71827"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71827\/revisions"}],"predecessor-version":[{"id":71830,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71827\/revisions\/71830"}],"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=71827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=71827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=71827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}