{"id":72107,"date":"2024-09-25T16:20:33","date_gmt":"2024-09-25T06:20:33","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=72107"},"modified":"2025-11-10T21:05:32","modified_gmt":"2025-11-10T10:05:32","slug":"wednesday-25th-september-2024-asia-pacific-markets-rally-as-china-stocks-surge-on-stimulus-measures","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-25th-september-2024-asia-pacific-markets-rally-as-china-stocks-surge-on-stimulus-measures\/","title":{"rendered":"Wednesday 25th September 2024: Asia-Pacific Markets Rally as China Stocks Surge on Stimulus Measures"},"content":{"rendered":"\n<h3>Asia-Pacific Markets Rally as China Stocks Surge on Stimulus Measures<br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.17%, Shanghai Composite up 0.94%, Hang Seng up 1.15% ASX down 0.33<\/li>\n\n\n\n<li>Commodities : Gold at $2679.35 (0.14%), Silver at $31.10 (-0.94%), Brent Oil at $74.18 (-0.56%), WTI Oil at $71.16 (-0.47%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.742, UK 10-year yield at 3.942, Germany 10-year yield at 2.135<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) CB Consumer Confidence&nbsp; 98.7 vs 103.9 expected<\/li>\n\n\n\n<li>(USD) Richmond Manufacturing Index&nbsp; -21 vs -13 expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p><br \/>China&#8217;s stocks led gains in the Asia-Pacific markets on Wednesday, boosted by new stimulus measures from Beijing. Mainland China\u2019s CSI 300 climbed 2.13%, driven by consumer cyclicals and industrials, while Hong Kong\u2019s Hang Seng index went as high as 2%, supported by energy and basic materials sectors. The Hang Seng Mainland Properties index also rose by 1.8%.<\/p>\n\n\n\n<p>Chinese markets rallied earlier after the central bank unveiled a series of economic support measures, with the Hang Seng Index having its best day in seven months and the CSI 300 marking its largest one-day gain in over four years. On Wednesday, the People\u2019s Bank of China cut the medium-term lending facility rate to 2%, down from 2.3%, marking the second rate reduction in three months.<\/p>\n\n\n\n<p>The offshore yuan briefly strengthened, breaking the 7.00 level against the U.S. dollar for the first time since May 2023. Meanwhile, Australia\u2019s inflation was in focus as the consumer price index rose 2.7% year on year in August, aligning with economists\u2019 expectations.<\/p>\n\n\n\n<p>Australia\u2019s S&amp;P\/ASX 200 saw a slight losses as session went, while Japan\u2019s Nikkei 225 inched up by 0.21%, and South Korea\u2019s Kospi remained nearly flat.In the U.S., the S&amp;P 500 hit a fresh record, gaining 0.25%, with the Dow Jones adding 0.2%. Nvidia shares surged almost 4% after news that CEO Jensen Huang had concluded his stock sales.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>02:00 PM GMT &#8211; USD New Home Sales<\/li>\n\n\n\n<li>02:30 PM GMT &#8211; USD Crude Oil Inventories<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Asia-Pacific Markets Rally as China Stocks Surge on Stimulus Measures Global [&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\/72107"}],"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=72107"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72107\/revisions"}],"predecessor-version":[{"id":72115,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72107\/revisions\/72115"}],"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=72107"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=72107"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=72107"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}