{"id":72066,"date":"2024-09-23T16:35:52","date_gmt":"2024-09-23T06:35:52","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=72066"},"modified":"2025-11-10T21:05:54","modified_gmt":"2025-11-10T10:05:54","slug":"monday-23rd-september-2024-asia-pacific-markets-react-to-global-monetary-policy-update","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-23rd-september-2024-asia-pacific-markets-react-to-global-monetary-policy-update\/","title":{"rendered":"Monday 23rd September 2024: Asia-Pacific Markets React to Global Monetary Policy Update"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 1.67%, Shanghai Composite up 0.48%, Hang Seng up 0.11% ASX down 0.69%<\/li>\n\n\n\n<li>Commodities : Gold at $2654.35 (0.34%), Silver at $31.40 (0.14%), Brent Oil at $74.48 (0.79%), WTI Oil at $71.6 (0.98%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.754, UK 10-year yield at 3.904, Germany 10-year yield at 2.221<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Core Retail Sales m\/m&nbsp; 0.4% vs 0.2% expected<\/li>\n\n\n\n<li>(USD) Retail Sales m\/m&nbsp; 0.9% vs 0.5% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p><br \/>Asia-Pacific markets were mostly higher on Monday as investors reacted to monetary policy updates from Japan, China, and the U.S. Federal Reserve&#8217;s recent rate cut.China\u2019s economic challenges continue, with data showing youth unemployment at its highest this year for the second consecutive month. Despite pressure for lower rates, the People&#8217;s Bank of China held its key benchmark rate steady, but injected 234.6 billion yuan ($33.29 billion) into the banking system to ensure sufficient liquidity. Additionally, it lowered the 14-day reverse repo rate to 1.85%.<\/p>\n\n\n\n<p>Meanwhile, the U.S. is considering banning imports of Chinese cars equipped with advanced communication and autonomous driving systems.The Bank of Japan also maintained its interest rate at 0.25%, and Japanese markets were closed for a public holiday. Futures tied to the Nikkei 225 were trading higher in Chicago.Other key developments included the Reserve Bank of Australia beginning a two-day meeting to decide on monetary policy, and Singapore\u2019s inflation data being released, with core CPI expected to rise 2.6%.<\/p>\n\n\n\n<p>In market performances, Australia&#8217;s S&amp;P\/ASX 200 dropped 0.69%, while South Korea&#8217;s Kospi rose 0.10%, and the Kosdaq advanced 0.86%. Hong Kong\u2019s Hang Seng edged 0.11% higher, and mainland China\u2019s CSI 300 climbed 0.45%. Taiwan\u2019s Weighted Index closed up 0.57%.<\/p>\n\n\n\n<p>In the U.S., all three major indexes posted weekly gains, with the S&amp;P 500 rising 1.36%, the Dow Jones adding 1.62%, and the Nasdaq Composite increasing 1.49%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>1:45 PM GMT &#8211; USD Flash Manufacturing PMI<\/li>\n\n\n\n<li>1:45 PM GMT &#8211; USD Flash Services PMI<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets were mostly [&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\/72066"}],"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=72066"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72066\/revisions"}],"predecessor-version":[{"id":72071,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72066\/revisions\/72071"}],"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=72066"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=72066"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=72066"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}