{"id":72505,"date":"2024-10-16T17:21:18","date_gmt":"2024-10-16T06:21:18","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=72505"},"modified":"2025-11-10T21:00:51","modified_gmt":"2025-11-10T10:00:51","slug":"wednesday-16th-october-2024-asia-pacific-markets-slide-amid-wall-street-declines","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/wednesday-16th-october-2024-asia-pacific-markets-slide-amid-wall-street-declines\/","title":{"rendered":"Wednesday 16th October 2024: Asia-Pacific Markets Slide Amid Wall Street Declines"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 1.84%, Shanghai Composite up 0.06%, Hang Seng up 0.9% ASX down 0.41%<\/li>\n\n\n\n<li>Commodities : Gold at $2687.35 (0.24%), Silver at $31.80 (0.54%), Brent Oil at $74.54 (0.36%), WTI Oil at $70.8 (0.52%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.03, UK 10-year yield at 4.164, Germany 10-year yield at 2.228<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(CAD) CPI m\/m&nbsp; -0.4%&nbsp; vs -0.2% expected<\/li>\n\n\n\n<li>(CAD) Median CPI y\/y&nbsp; 2.3%&nbsp; vs 2.3% expected<\/li>\n\n\n\n<li>(CAD) Trimmed CPI y\/y&nbsp; 2.4%&nbsp; vs 2.4% expected<\/li>\n\n\n\n<li>(CAD) Common CPI y\/y 2.1%&nbsp; vs 2.1% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets experienced a downturn on Wednesday, led by Japan\u2019s Nikkei index, following declines on Wall Street. Investors are anticipating further stimulus measures to support China&#8217;s struggling real estate sector, with the housing minister, Ni Hong, scheduled to hold a press briefing on Thursday at 10 a.m. local time. He will be joined by officials from the central bank, finance ministry, and National Financial Regulatory Administration.<\/p>\n\n\n\n<p>In response to these developments, China\u2019s CSI 300 Real Estate Index surged by 4.45%, while the broader CSI 300 index saw a modest decline of 0.3%. The Hang Seng Mainland Properties Index rose over 5%, significantly outpacing the Hang Seng index&#8217;s 0.9% increase. Hong Kong&#8217;s Chief Executive John Lee emphasized improving residents&#8217; livelihoods in his annual policy address, focusing on reducing public housing wait times and simplifying listing procedures for companies in the city.<\/p>\n\n\n\n<p>Regional economic data showed New Zealand\u2019s consumer price index for the third quarter rose by 2.2% year on year, aligning with expectations. Meanwhile, South Korea reported a slight uptick in its unemployment rate to 2.5% in September, compared to 2.4% in August.<\/p>\n\n\n\n<p>In Japan, the Nikkei 225 dropped 1.83% to close at 39,180.3, while the Topix fell 1.2% to 2,690.66. Other markets in the region, including Taiwan, Australia, and South Korea, also recorded losses. U.S. markets had a rough session, with the Dow Jones Industrial Average losing 324.80 points, or 0.75%. Meanwhile, oil futures inched up after a significant drop due to geopolitical tensions.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; CAD Manufacturing Sales m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Import Prices m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets experienced a [&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\/72505"}],"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=72505"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72505\/revisions"}],"predecessor-version":[{"id":72510,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72505\/revisions\/72510"}],"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=72505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=72505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=72505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}