{"id":72557,"date":"2024-10-18T16:36:53","date_gmt":"2024-10-18T05:36:53","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=72557"},"modified":"2025-11-10T20:59:24","modified_gmt":"2025-11-10T09:59:24","slug":"friday-18th-october-2024-asian-markets-rebound-on-china-growth-u-s-stocks-hit-record-highs","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-18th-october-2024-asian-markets-rebound-on-china-growth-u-s-stocks-hit-record-highs\/","title":{"rendered":"Friday 18th October 2024: Asian Markets Rebound on China Growth; U.S. Stocks Hit Record Highs"},"content":{"rendered":"\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.11%, Shanghai Composite up 1.99%, Hang Seng up 2.03% ASX down 0.82%<\/li>\n\n\n\n<li>Commodities : Gold at $2727.35 (0.74%), Silver at $32.20 (1.54%), Brent Oil at $74.64 (0.36%), WTI Oil at $70.9 (0.42%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.097, UK 10-year yield at 4.091, Germany 10-year yield at 2.202<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Unemployment Claims&nbsp; 241K&nbsp; vs 241K expected<\/li>\n\n\n\n<li>(USD) Core Retail sales m\/m&nbsp; 0.5%&nbsp; vs 0.1% expected<\/li>\n\n\n\n<li>(USD) Retail Sales m\/m&nbsp; 0.4%&nbsp; vs 0.3% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Mainland China and Hong Kong markets rebounded Friday after China\u2019s economy posted better-than-expected growth. Asia-Pacific markets were generally mixed.&nbsp;<\/p>\n\n\n\n<p>China\u2019s third-quarter GDP grew 4.6% compared to the same period last year, slightly exceeding economists\u2019 expectations but down from 4.7% in the previous quarter. This is the lowest growth rate since mid-2023 and continues to drift away from Beijing\u2019s 5% annual target.<\/p>\n\n\n\n<p>September data showed retail sales grew by 3.2% year-on-year, beating estimates, while industrial output expanded faster than expected at 5.4%. However, China\u2019s house prices fell 5.8% year-over-year, marking a steeper drop compared to August\u2019s 5.3% decline.In response, Mainland China\u2019s CSI 300 rose 2.19%, and Hong Kong\u2019s Hang Seng index climbed over 2% in volatile trading.<\/p>\n\n\n\n<p>Japan saw headline inflation for September at 2.5%, with core CPI, excluding fresh food prices, rising 2.4% year-on-year, just above expectations. Japan\u2019s Nikkei 225 added 0.2%, while the Topix index edged higher. South Korea\u2019s Kospi slipped 0.6%, and the smaller Kosdaq dropped 1.57%. Australia\u2019s S&amp;P\/ASX 200 declined 0.87%.<\/p>\n\n\n\n<p>In the U.S., the Dow Jones Industrial Average hit a record close, rising 161 points (0.37%) to 43,239.05, supported by strong economic data. The S&amp;P 500 dipped 0.02% to 5,841.47, while the Nasdaq Composite rose 0.04% to 18,373.61. All three indexes are on track for their sixth consecutive positive week.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>12:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Core Retail sales m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Retail Sales m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Mainland China and Hong [&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\/72557"}],"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=72557"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72557\/revisions"}],"predecessor-version":[{"id":72568,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72557\/revisions\/72568"}],"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=72557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=72557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=72557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}