{"id":73205,"date":"2024-11-22T17:27:08","date_gmt":"2024-11-22T06:27:08","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=73205"},"modified":"2025-11-10T20:53:02","modified_gmt":"2025-11-10T09:53:02","slug":"friday-22nd-november-2024-asia-pacific-gains-follow-wall-street-rally-oil-prices-surge","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/friday-22nd-november-2024-asia-pacific-gains-follow-wall-street-rally-oil-prices-surge\/","title":{"rendered":"Friday 22nd November 2024: Asia-Pacific Gains Follow Wall Street Rally, Oil Prices Surge"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.81%, Shanghai Composite down 1.82%, Hang Seng down 1.7% ASX up 0.87%<\/li>\n\n\n\n<li>Commodities : Gold at $2689.35 (0.54%), Silver at $30.9 (0.48%), Brent Oil at $74.24 (0.16%), WTI Oil at $70.9 (0.09%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.410, UK 10-year yield at 4.439, Germany 10-year yield at 2.3115<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Unemployment Claims 213K vs 220K expected<\/li>\n\n\n\n<li>(USD) Existing Home Sales 3.96M vs 3.95M expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p><br \/>&nbsp; Asia-Pacific markets mostly advanced on Friday, following Wall Street&#8217;s rally where the S&amp;P 500 posted gains for the fourth consecutive day. However, Hong Kong\u2019s Hang Seng Index dropped 1.3% in a volatile session, while mainland China\u2019s CSI 300 fell over 1%. Analysts suggest that investors are cautious, awaiting updates on U.S.-China tariffs and potential stimulus measures from Beijing, which are unlikely before March\u2019s parliamentary meeting, according to Eugene Hsiao of Macquarie Capital.<\/p>\n\n\n\n<p>Japan\u2019s consumer price index (CPI) for October showed core inflation, excluding fresh food, rose 2.3% year-on-year, slightly above the 2.2% forecast but cooler than September\u2019s 2.4%. The overall CPI also eased to 2.3% from 2.5% the previous month. Japan\u2019s Nikkei 225 rose 0.86%, and the Topix climbed 0.68%. Australia\u2019s S&amp;P\/ASX 200 recovered 0.96%, snapping a two-day losing streak. South Korea\u2019s Kospi added 1.08%, while the smaller Kosdaq index edged up 0.2%.<\/p>\n\n\n\n<p>Singapore\u2019s economy grew 5.4% year-on-year in the third quarter, up from a revised 3.0% in Q2. Quarter-on-quarter growth accelerated to 3.2% from 0.5%. The government raised its 2024 GDP growth forecast to 3.5%.<\/p>\n\n\n\n<p>Overnight, U.S. markets ended higher. The Dow Jones climbed 462 points (1.06%) to 43,270.35, the S&amp;P 500 gained 0.53% to 5,948.71, and the Nasdaq Composite edged up 0.03% to 18,972.42. Crude oil prices rose over 2%, fueled by geopolitical tensions after Russia\u2019s missile escalation in Ukraine.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>01:30 PM GMT &#8211; CAD Core Retail Sales m\/m<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; CAD Retail Sales m\/m<\/li>\n\n\n\n<li>02:45 PM GMT &#8211; USD Flash Manufacturing PMI<\/li>\n\n\n\n<li>02:45 PM GMT &#8211; USD Flash Services PMI<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: &nbsp; Asia-Pacific markets mostly [&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\/73205"}],"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=73205"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73205\/revisions"}],"predecessor-version":[{"id":73214,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73205\/revisions\/73214"}],"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=73205"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=73205"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=73205"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}