{"id":72016,"date":"2024-09-19T16:14:37","date_gmt":"2024-09-19T06:14:37","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=72016"},"modified":"2025-11-10T21:27:48","modified_gmt":"2025-11-10T10:27:48","slug":"thursday-19th-september-2024-asia-pacific-markets-rise-amid-feds-interest-rate-cut","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/thursday-19th-september-2024-asia-pacific-markets-rise-amid-feds-interest-rate-cut\/","title":{"rendered":"Thursday 19th September 2024: Asia-Pacific Markets Rise Amid Fed&#8217;s Interest Rate Cut"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 2.15%, Shanghai Composite up 0.58%, Hang Seng up 1.82% ASX up 0.64%<\/li>\n\n\n\n<li>Commodities : Gold at $2592.35 (-0.24%), Silver at $30.90 (0.64%), Brent Oil at $73.78 (0.19%), WTI Oil at $69.9 (0.18%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.725, UK 10-year yield at 3.860, Germany 10-year yield at 2.190<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Federal Funds Rate&nbsp; 5.00% vs 5.25% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p><br \/>Asia-Pacific markets experienced gains amid volatile trading on Thursday as investors reacted to the Federal Reserve&#8217;s half-percentage-point interest rate cut. Japan&#8217;s Nikkei 225 increased by 2.53%, and the Topix rose 2.41%. Meanwhile, the Japanese yen weakened by 0.68% against the U.S. dollar to 143.24. The Federal Reserve&#8217;s rate cut lowered its benchmark borrowing rate to a target range of 4.75% to 5%.&nbsp;&nbsp;<\/p>\n\n\n\n<p>Following the Fed&#8217;s move, the Hong Kong Monetary Authority reduced its interest rate by 50 basis points to 5.25%, reflecting the city&#8217;s currency peg to the U.S. dollar. The Hang Seng index in Hong Kong climbed 1.81%, with China Vanke shares jumping 8.7%. Mainland China&#8217;s CSI 300 index went up by 0.8%, driven primarily by real estate stocks, which saw a 4.3% increase.&nbsp;&nbsp;<\/p>\n\n\n\n<p>South Korea&#8217;s Kospi index inched up 0.11%, while the Kosdaq gained 0.65%. In Australia, the unemployment rate held steady at 4.2% in August, with employment figures surpassing expectations at 47,500 additions. This contributed to the S&amp;P\/ASX 200 rising by 0.64%, reaching a new record high.&nbsp;&nbsp;<\/p>\n\n\n\n<p>New Zealand&#8217;s GDP for the second quarter contracted by 0.2%, which was better than the expected 0.4% decline. Taiwan\u2019s central bank is preparing to announce a key rate decision, with the Taiwan Weighted Index up by 1.24%.&nbsp;&nbsp;<\/p>\n\n\n\n<p>In the U.S., all major indices fell overnight. The Dow Jones decreased by 0.25%, the S&amp;P 500 by 0.29%, and the Nasdaq by 0.31%, despite intraday highs.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n\n\n\n<li>02:00 PM GMT &#8211; USD Existing Home Sales<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets experienced gains [&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\/72016"}],"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=72016"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72016\/revisions"}],"predecessor-version":[{"id":72030,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72016\/revisions\/72030"}],"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=72016"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=72016"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=72016"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}