{"id":72251,"date":"2024-10-02T16:07:58","date_gmt":"2024-10-02T06:07:58","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=72251"},"modified":"2025-11-10T21:03:43","modified_gmt":"2025-11-10T10:03:43","slug":"wednesday-2nd-october-2024-asian-markets-surge-on-beijing-stimulus-amid-global-geopolitical-tensions","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-2nd-october-2024-asian-markets-surge-on-beijing-stimulus-amid-global-geopolitical-tensions\/","title":{"rendered":"Wednesday 2nd October 2024: Asian Markets Surge on Beijing Stimulus Amid Global Geopolitical Tensions"},"content":{"rendered":"\n<h3>Asian Markets Surge on Beijing Stimulus Amid Global Geopolitical Tensions<br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 2.17%, Shanghai Composite up 8.06%, Hang Seng up 5.85% ASX down 0.25%<\/li>\n\n\n\n<li>Commodities : Gold at $2676.35 (-0.44%), Silver at $31.50 (-0.74%), Brent Oil at $74.91 (1.96%), WTI Oil at $71.36 (2.17%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.732, UK 10-year yield at 3.943, Germany 10-year yield at 2.043<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) ISM Manufacturing PMI&nbsp; 47.2 vs 47.6 expected<\/li>\n\n\n\n<li>(USD) JOLTS Job Openings&nbsp; 8.04M vs 7.64M expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Hong Kong\u2019s Hang Seng index surged over 6% on Wednesday, reflecting growing optimism around Beijing\u2019s recent stimulus policies. Leading the charge were property developers, with China Vanke, Logan Group, and Longfor Group rising 40%, 32%, and 23%, respectively. Chinese tech giants also saw gains, with Baidu and JD.com up over 10%, and Alibaba, Tencent, and Xiaomi gaining more than 5%.<\/p>\n\n\n\n<p>Meanwhile, mainland China markets remained closed for the Golden Week holiday. On Monday, China\u2019s stocks experienced their best day in 16 years following Beijing\u2019s stimulus measures, including interest-rate cuts, reduced bank reserve requirements, and enhanced liquidity.<\/p>\n\n\n\n<p>In other Asia-Pacific markets, results were mixed on Wednesday. Australia\u2019s S&amp;P\/ASX 200 traded flat, while South Korea\u2019s Kospi slipped 0.2% and Japan\u2019s Nikkei 225 dropped 2.2%. Japan&#8217;s new Prime Minister, Shigeru Ishiba, assumed office, sparking discussions on potential interest rate hikes by the Bank of Japan. Economy Minister Ryosei Akazawa, however, emphasized a cautious approach to future rate increases.<\/p>\n\n\n\n<p>In the U.S., the Dow Jones Industrial Average fell over 173 points, with the S&amp;P 500 and Nasdaq Composite also dipping. Oil prices spiked after Iran launched missiles at Israel, escalating tensions following Israel&#8217;s ground operations in Lebanon. Israeli Prime Minister Netanyahu promised retaliation, further heightening geopolitical risks.&nbsp;<\/p>\n\n\n\n<p>As investors eye Friday\u2019s U.S. jobs report, concerns about rising unemployment and the impact of Middle East tensions are contributing to market uncertainty.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:15 PM GMT &#8211; USD ADP Non-Farm Employment Change<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Asian Markets Surge on Beijing Stimulus Amid Global Geopolitical Tensions 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\/72251"}],"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=72251"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72251\/revisions"}],"predecessor-version":[{"id":72257,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72251\/revisions\/72257"}],"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=72251"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=72251"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=72251"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}