{"id":71979,"date":"2024-09-17T15:57:15","date_gmt":"2024-09-17T05:57:15","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=71979"},"modified":"2025-11-10T21:27:58","modified_gmt":"2025-11-10T10:27:58","slug":"tuesday-17th-september-2024-asia-pacific-markets-mixed-ahead-of-federal-reserve-rate-decision","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-17th-september-2024-asia-pacific-markets-mixed-ahead-of-federal-reserve-rate-decision\/","title":{"rendered":"Tuesday 17th September 2024: Asia-Pacific Markets Mixed Ahead of Federal Reserve Rate Decision"},"content":{"rendered":"\n<h3>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 1.50%, Shanghai Composite down 0.48%, Hang Seng up 1.18% ASX up 0.31%<\/li>\n\n\n\n<li>Commodities : Gold at $2605.35 (-0.14%), Silver at $31.10 (-0.14%), Brent Oil at $73.08 (0.49%), WTI Oil at $69.8 (0.58%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.635, UK 10-year yield at 3.760, Germany 10-year yield at 2.120<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) Manufacturing Sales m\/m&nbsp; 1.4% vs 0.7% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p><br \/>Asia-Pacific stocks saw mixed performances on Tuesday, with Japan&#8217;s Nikkei 225 falling 2% as investors anticipated the Federal Reserve&#8217;s upcoming monetary loosening cycle. The Nikkei 225 dropped 1.46%, and the Topix decreased by 1.8%, with the yen strengthening for the sixth consecutive session, trading at 140.40 against the dollar. Overnight, the yen reached 139.58, its strongest level since July 2023.<\/p>\n\n\n\n<p>The Federal Reserve is expected to announce its first interest rate cut since March 2022. However, there is uncertainty regarding the size of the cut, as the two-day policy meeting begins. U.S. retail sales data is also being closely watched to assess consumer health ahead of the Fed&#8217;s decision.<\/p>\n\n\n\n<p>In Asia, Singapore&#8217;s non-oil domestic exports rose 10.7% year-on-year in August but fell 4.7% from the previous month, slightly below Reuters&#8217; forecast of a 15% annual increase. Additionally, India&#8217;s wholesale prices for August are projected to have increased by 1.85% year-on-year, a cooler reading than July&#8217;s 2.04%.<\/p>\n\n\n\n<p>Chinese appliance maker Midea Group&#8217;s shares surged over 9% in their Hong Kong debut, marking the city\u2019s largest listing in over three years. Hong Kong\u2019s Hang Seng index rose 1.5%, and Australia\u2019s S&amp;P\/ASX 200 edged up 0.31%. South Korea, mainland China, and Taiwan&#8217;s markets were closed for a holiday.<\/p>\n\n\n\n<p>In the U.S., the Dow Jones Industrial Average climbed 0.55% to a record high of 41,622.08, while the S&amp;P 500 increased by 0.13%. Conversely, the Nasdaq Composite fell by 0.52%, affected by declines in tech stocks.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; CAD CPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Median CPI y\/y<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Trimmed CPI y\/y<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Common CPI y\/y<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Core CPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Core Retail Sales m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Retail Sales m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific stocks saw 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\/71979"}],"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=71979"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71979\/revisions"}],"predecessor-version":[{"id":71985,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/71979\/revisions\/71985"}],"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=71979"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=71979"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=71979"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}