{"id":72200,"date":"2024-09-30T16:19:23","date_gmt":"2024-09-30T06:19:23","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=72200"},"modified":"2025-11-10T21:04:58","modified_gmt":"2025-11-10T10:04:58","slug":"monday-30th-september-2024-stocks-surge-in-china-while-japans-markets-tumble-amid-key-economic-data","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-30th-september-2024-stocks-surge-in-china-while-japans-markets-tumble-amid-key-economic-data\/","title":{"rendered":"Monday 30th September 2024: Stocks Surge in China While Japan\u2019s Markets Tumble Amid Key Economic Data"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 4.87%, Shanghai Composite up 8.54%, Hang Seng up 3.85% ASX up 0.70%<\/li>\n\n\n\n<li>Commodities : Gold at $2679.35 (0.34%), Silver at $31.90 (0.24%), Brent Oil at $72.81 (1.56%), WTI Oil at $69.16 (1.47%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.762, UK 10-year yield at 3.980, Germany 10-year yield at 2.140<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Core PCE Price Index m\/m&nbsp; 0.1% vs 0.2% expected<\/li>\n\n\n\n<li>(CAD) GDP m\/m&nbsp; 0.2% vs 0.1% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Stocks in mainland China surged over 8%, while Japan\u2019s Nikkei 225 fell 4.64% on Monday as investors digested key economic data from both countries. China\u2019s official purchasing managers&#8217; index (PMI) for September came in at 49.8, slightly above the forecast of 49.5, but still signaled a fifth consecutive month of contraction in the manufacturing sector. The Caixin PMI, a private survey by S&amp;P Global, showed a sharper drop, falling to 49.3 from 50.4 in August, missing expectations of 50.5. This marked the steepest decline in 14 months.<\/p>\n\n\n\n<p>Mainland China\u2019s CSI 300 index jumped 6.22%, with the property sector gaining 7.4%. Hong Kong\u2019s Hang Seng index rose 3.34%, driven by consumer stocks, while the Hang Seng Mainland Properties Index soared 8%. Despite the positive performance in Chinese markets, the data still pointed to challenges in the manufacturing sector.<\/p>\n\n\n\n<p>In Japan, the Nikkei\u2019s steep decline was led by real estate stocks. The biggest loser was Isetan Mitsukoshi Holdings, which plunged 11%. Japan\u2019s industrial production dropped 4.9% year-on-year in August, a much larger decline than expected, though retail sales grew by 2.8%, beating estimates of a 2.3% increase. The yen weakened 0.13% against the dollar, trading at 142.38.<\/p>\n\n\n\n<p>Elsewhere, Australia\u2019s S&amp;P\/ASX 200 rose 0.72%, reaching a new high, while South Korea\u2019s Kospi fell 1.13%. In the U.S., the Dow Jones Industrial Average gained 0.33% on Friday, driven by optimistic inflation data. The personal consumption expenditures (PCE) price index, a key inflation gauge, rose 0.1% in August, aligning with expectations and showing an annualized increase of 2.2%.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>01:45 PM GMT &#8211; USD Chicago PMI<\/li>\n\n\n\n<li>05:55 PM GMT &#8211; USD Fed Chair Powell Speaks<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Stocks in mainland China [&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\/72200"}],"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=72200"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72200\/revisions"}],"predecessor-version":[{"id":72210,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72200\/revisions\/72210"}],"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=72200"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=72200"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=72200"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}