{"id":71874,"date":"2024-09-09T17:19:15","date_gmt":"2024-09-09T07:19:15","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=71874"},"modified":"2025-11-10T21:30:13","modified_gmt":"2025-11-10T10:30:13","slug":"monday-9th-september-2024-asia-pacific-markets-fall-on-weak-u-s-jobs-report-slower-china-inflation","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-9th-september-2024-asia-pacific-markets-fall-on-weak-u-s-jobs-report-slower-china-inflation\/","title":{"rendered":"Monday 9th September 2024: Asia-Pacific Markets Fall on Weak U.S. Jobs Report, Slower China Inflation"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.72%, Shanghai Composite down 1.05%, Hang Seng down 2.05% ASX down 0.32%<\/li>\n\n\n\n<li>Commodities : Gold at $2518.35 (0.29%), Silver at $28.3 (0.91%), Brent Oil at $71.90 (1.39%), WTI Oil at $68.6 (1.38%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.740, UK 10-year yield at 3.967, Germany 10-year yield at 2.219<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) Employment Change&nbsp; 22.1k&nbsp; vs 23.7K expected<\/li>\n\n\n\n<li>(CAD) Unemployment Rate&nbsp; 6.6%&nbsp; vs 6.5% expected<\/li>\n\n\n\n<li>(USD) Average Hourly Earnings m\/m&nbsp; 0.4%&nbsp; vs 0.3% expected<\/li>\n\n\n\n<li>(USD) Non-Farm Employment Change&nbsp; 142K&nbsp; vs 164K expected<\/li>\n\n\n\n<li>(USD) Unemployment Rate&nbsp; 4.2%&nbsp; vs 4.2% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p><br \/>Asia-Pacific markets declined on Monday, with Hong Kong\u2019s Hang Seng Index leading the region&#8217;s losses. This followed a weaker-than-expected U.S. jobs report released on Friday.<\/p>\n\n\n\n<p>China\u2019s inflation rate grew 0.6% year-over-year, below the 0.7% predicted by economists polled by Reuters. On a month-to-month basis, China\u2019s Consumer Price Index (CPI) rose 0.4%, also falling short of the 0.5% expectation.Hong Kong\u2019s Hang Seng Index dropped by 2.08%, while mainland China\u2019s CSI 300 decreased by 1.41%.<\/p>\n\n\n\n<p>In corporate news, Chinese electrical appliance maker Midea Group announced plans to list 492.1 million shares in Hong Kong, priced between HK$52 and HK$54.80 per share. At the top of that range, the listing would be valued at HK$26.97 billion ($3.46 billion), making it the largest IPO in the city in over three years.<\/p>\n\n\n\n<p>Japan\u2019s second-quarter GDP grew by 2.9% on an annualized basis, below the 3.2% expected. This softer growth could limit the Bank of Japan&#8217;s ability to raise interest rates. The Nikkei 225 fell by 0.48%, and the Topix dropped 0.68%. The Japanese yen weakened 0.4% against the U.S. dollar. South Korea\u2019s Kospi fell 0.33%, while Australia\u2019s S&amp;P\/ASX 200 dipped 0.32%.<\/p>\n\n\n\n<p>On Friday, U.S. nonfarm payrolls rose by 142,000, missing the estimated 161,000 gain, while the unemployment rate matched expectations at 4.2%. The S&amp;P 500 and Nasdaq both recorded their worst weeks since March.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>2:00 PM GMT &#8211; USD Final Wholesale Inventories m\/m<\/li>\n\n\n\n<li>7:00 PM GMT &#8211; USD Consumer Credit m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets declined 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\/71874"}],"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=71874"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71874\/revisions"}],"predecessor-version":[{"id":71879,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71874\/revisions\/71879"}],"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=71874"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=71874"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=71874"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}