{"id":72157,"date":"2024-09-27T15:44:21","date_gmt":"2024-09-27T05:44:21","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=72157"},"modified":"2025-11-10T21:05:09","modified_gmt":"2025-11-10T10:05:09","slug":"friday-27th-september-2024-asian-markets-surge-on-chinese-stimulus","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-27th-september-2024-asian-markets-surge-on-chinese-stimulus\/","title":{"rendered":"Friday 27th September 2024: Asian Markets Surge on Chinese Stimulus"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 1.87%, Shanghai Composite up 2.64%, Hang Seng up 2.15% ASX up 0.05%<\/li>\n\n\n\n<li>Commodities : Gold at $2684.35 (-0.34%), Silver at $31.90 (-1.24%), Brent Oil at $70.81 (-0.56%), WTI Oil at $67.46 (-0.47%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.802, UK 10-year yield at 4.012, Germany 10-year yield at 2.172<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Final GDP q\/q&nbsp; 3.0% vs 3.0% expected<\/li>\n\n\n\n<li>(USD) Unemployment Claims&nbsp; 218K vs 224K expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Chinese markets are poised for their best week in nearly 16 years as the CSI 300 index anticipates a 15% rally, driven by economic stimulus measures announced by the People&#8217;s Bank of China (PBOC). This marks the index\u2019s biggest weekly gain since November 2008. Meanwhile, Hong Kong\u2019s Hang Seng Index (HSI) is set for a 12.85% weekly gain, its best performance since February 1998.<\/p>\n\n\n\n<p>On Friday, the CSI 300 rose almost 4%, and the HSI climbed 3.5%, following the PBOC&#8217;s decision to cut its 7-day reverse repurchase rate to 1.5% from 1.7% and reduce the reserve requirement ratio for financial institutions by 0.5 percentage points. The central bank aims to support stable economic growth and high-quality development. However, industrial profit data for August showed a 17.8% decline year-on-year, following a 4.1% increase in July.<\/p>\n\n\n\n<p>Elsewhere in Asia, Japan\u2019s Nikkei 225 gained 1.81% despite Tokyo\u2019s inflation rate easing to 2.2% in September, down from 2.6% in August. The core inflation rate was 2%, as expected. The yen weakened against the U.S. dollar as Japan&#8217;s ruling party prepared to elect a new prime minister, with Sanae Takaichi, an advocate for dovish monetary policies, leading the race. South Korea&#8217;s Kospi fell 0.21%, and Australia&#8217;s S&amp;P\/ASX 200 rose slightly, nearing its all-time high.&nbsp;<\/p>\n\n\n\n<p>In the U.S., major indexes rose, with the S&amp;P 500 hitting a new record, buoyed by positive economic data and a stable labor market.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; CAD GDP m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Core PCE Price Index m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Chinese markets are poised [&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\/72157"}],"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=72157"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72157\/revisions"}],"predecessor-version":[{"id":72161,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72157\/revisions\/72161"}],"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=72157"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=72157"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=72157"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}