{"id":71852,"date":"2024-09-06T16:25:34","date_gmt":"2024-09-06T06:25:34","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=71852"},"modified":"2025-11-10T21:30:24","modified_gmt":"2025-11-10T10:30:24","slug":"friday-6th-september-2024-asia-pacific-markets-decline-amid-u-s-jobs-report-anticipation","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-6th-september-2024-asia-pacific-markets-decline-amid-u-s-jobs-report-anticipation\/","title":{"rendered":"Friday 6th September 2024: Asia-Pacific Markets Decline Amid U.S. Jobs Report Anticipation\u00a0"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.63%, Shanghai Composite down 0.55%, Hang Seng down 0.08% ASX up 0.4%<\/li>\n\n\n\n<li>Commodities : Gold at $2550.35 (0.39%), Silver at $29.2 (0.31%), Brent Oil at $72.90 (0.39%), WTI Oil at $69.3 (0.38%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.704, UK 10-year yield at 3.916, Germany 10-year yield at 2.2183<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) Labor Productivity q\/q&nbsp; -0.2%&nbsp; vs -0.1% expected<\/li>\n\n\n\n<li>(USD) ADP Non-Farm Employment Change&nbsp; 99K&nbsp; vs 144K expected<\/li>\n\n\n\n<li>(USD) Unemployment Claims&nbsp; 227K&nbsp; vs 231K expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets largely declined on Friday as investors anticipated a key U.S. jobs report and absorbed Japan&#8217;s household spending data. Japan&#8217;s household spending for July grew by only 0.1% year-on-year, significantly below the 1.2% increase expected by economists. This was a turnaround from June&#8217;s 1.4% decline. According to Japan&#8217;s statistics bureau, average household spending for July 2024 was 290,931 yen ($2,031.35), a 3.3% rise in nominal terms. Meanwhile, household income surged to 694,483 yen, up 8.9% nominally and 5.5% in real terms.<\/p>\n\n\n\n<p>The weaker spending data could limit the Bank of Japan&#8217;s ability to raise interest rates, though strong wage growth figures from Thursday might provide some balance. Japan&#8217;s Nikkei 225 fell by 0.6%, while the Topix dropped by 0.97%. Seven &amp; i Holdings, the parent company of 7-Eleven, lost 1.73% after rejecting a takeover offer from Alimentation Couche-Tard.<\/p>\n\n\n\n<p>South Korea\u2019s Kospi was down 0.87%, and the Kosdaq dropped 2.31%. Conversely, Australia\u2019s S&amp;P\/ASX 200 rose by 0.4%.<\/p>\n\n\n\n<p>In Hong Kong, markets remained closed due to Super Typhoon Yagi. The Hong Kong Observatory expected to lower the storm signal by 12:40 p.m., though trading would stay halted for the day if downgraded after noon.<\/p>\n\n\n\n<p>Mainland China\u2019s CSI 300 slipped 0.27%. In the U.S., all major indexes dropped, with the S&amp;P 500 losing 0.3% and the Dow Jones falling 0.54%. However, the Nasdaq Composite gained 0.25%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; CAD Employment Change<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Unemployment Rate<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Average Hourly Earnings m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Non-Farm Employment Change<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Unemployment Rate<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets largely declined [&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\/71852"}],"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=71852"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71852\/revisions"}],"predecessor-version":[{"id":71854,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71852\/revisions\/71854"}],"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=71852"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=71852"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=71852"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}