{"id":72648,"date":"2024-10-24T17:10:59","date_gmt":"2024-10-24T06:10:59","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=72648"},"modified":"2025-11-10T20:58:56","modified_gmt":"2025-11-10T09:58:56","slug":"thursday-24th-october-2024-asia-pacific-markets-fall-as-u-s-stocks-slump","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/thursday-24th-october-2024-asia-pacific-markets-fall-as-u-s-stocks-slump\/","title":{"rendered":"Thursday 24th October 2024: Asia-Pacific Markets Fall as U.S. Stocks Slump"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.2%, Shanghai Composite down 0.9%, Hang Seng down 0.93% ASX up 0.3%<\/li>\n\n\n\n<li>Commodities : Gold at $2740.35 (0.24%), Silver at $34.20 (0.84%), Brent Oil at $75.64 (1.16%), WTI Oil at $71.69 (1.29%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.221, UK 10-year yield at 4.201, Germany 10-year yield at 2.313<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Existing Home sales&nbsp; 3.84M vs 3.88M expected<\/li>\n\n\n\n<li>(USD) Crude oil Inventories&nbsp; 5.5M&nbsp; vs 0.9M expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets mostly declined on Thursday after U.S. stocks dropped overnight, with the Dow Jones Industrial Average experiencing its worst day in more than a month.<\/p>\n\n\n\n<p>South Korea narrowly avoided a technical recession, with its third-quarter GDP growing 0.1% quarter-on-quarter, following a 0.2% contraction in the second quarter. However, this growth missed Reuters&#8217; expectations of 0.5%. On a year-on-year basis, the economy grew by 1.5%, below the anticipated 2%.<\/p>\n\n\n\n<p>Following the GDP report, South Korea\u2019s Kospi dropped 0.15%, while the small-cap Kosdaq fell 0.65%. In Japan, the Nikkei 225 reversed earlier losses to rise 0.2%, though the Topix declined by 0.21%. Australia\u2019s S&amp;P\/ASX 200 also managed to recover, gaining 0.31%.<\/p>\n\n\n\n<p>In Hong Kong, the Hang Seng index fell 0.93%, and mainland China\u2019s CSI 300 declined by 0.93%. Meanwhile, U.S. markets continued their losing streak, with the S&amp;P 500 down 0.92%, the Dow falling 0.96%, and the Nasdaq Composite losing 1.6%, driven by higher Treasury yields.<\/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>01:45 PM GMT &#8211; USD Flash Manufacturing PMI<\/li>\n\n\n\n<li>01:45 PM GMT &#8211; USD Flash Services PMI<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets mostly declined [&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\/72648"}],"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=72648"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72648\/revisions"}],"predecessor-version":[{"id":72657,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/72648\/revisions\/72657"}],"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=72648"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=72648"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=72648"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}