{"id":72584,"date":"2024-10-21T18:00:33","date_gmt":"2024-10-21T07:00:33","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=72584"},"modified":"2025-11-10T20:59:15","modified_gmt":"2025-11-10T09:59:15","slug":"monday-21st-october-2024-asia-pacific-markets-mixed-amid-china-rate-cuts-and-japan-election-focus","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/monday-21st-october-2024-asia-pacific-markets-mixed-amid-china-rate-cuts-and-japan-election-focus\/","title":{"rendered":"Monday 21st October 2024: Asia-Pacific Markets Mixed Amid China Rate Cuts and Japan Election Focus"},"content":{"rendered":"\n<h3><\/h3>\n\n\n\n<h3><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.22%, Shanghai Composite up 0.69%, Hang Seng down 0.83% ASX up 0.74%<\/li>\n\n\n\n<li>Commodities : Gold at $2742.35 (0.54%), Silver at $34.20 (2.84%), Brent Oil at $73.64 (0.56%), WTI Oil at $69.9 (0.72%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.079, UK 10-year yield at 4.057, Germany 10-year yield at 2.183<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Building Permits&nbsp; 1.43M&nbsp; vs 1.45M expected<\/li>\n\n\n\n<li>(USD) Housing Starts&nbsp; 1.35M&nbsp; vs 1.35M expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets had a mixed performance on Monday as traders reacted to China\u2019s loan prime rate (LPR) announcement and anticipated Japan\u2019s general election later this week. China\u2019s central bank cut its one-year and five-year LPR by 25 basis points, bringing them to 3.1% and 3.6%, respectively. This move had been hinted at by the People\u2019s Bank of China (PBOC) Governor Pan Gongsheng on Friday.<\/p>\n\n\n\n<p>Last week, ING had forecasted that the PBOC would likely keep its medium-term lending facility rate unchanged at 2%, following a 30-basis-point reduction in the prior month. ING also mentioned that further government announcements, including details about the National People\u2019s Congress, could impact market sentiment, especially with stimulus measures in focus.<\/p>\n\n\n\n<p>Other notable economic data expected this week includes October inflation data for Tokyo and South Korea\u2019s advance third-quarter GDP figures.<\/p>\n\n\n\n<p>In market movements, Japan\u2019s Nikkei 225 hovered around the flatline, with the broader Topix slightly down by 0.17%. South Korea\u2019s Kospi rose 0.83%, while the Kosdaq gained 1.05%. Australia\u2019s S&amp;P\/ASX 200 opened up 0.64%, and Hong Kong\u2019s Hang Seng index increased by 0.84%, with mainland China\u2019s CSI 300 up 0.19%.<\/p>\n\n\n\n<p>In the U.S., both the S&amp;P 500 and Dow Jones Industrial Average hit record highs on Friday. The S&amp;P 500 gained 0.40%, the Dow added 36.86 points, and the Nasdaq Composite rose 0.63%, boosted by Netflix\u2019s post-earnings surge.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>02:00 PM GMT &#8211; USD CB Leading Index m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets had 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\/72584"}],"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=72584"}],"version-history":[{"count":3,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72584\/revisions"}],"predecessor-version":[{"id":72591,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72584\/revisions\/72591"}],"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=72584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=72584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=72584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}