{"id":73586,"date":"2024-12-12T17:44:40","date_gmt":"2024-12-12T06:44:40","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=73586"},"modified":"2025-11-10T20:49:03","modified_gmt":"2025-11-10T09:49:03","slug":"thursday-12th-december-2024-asia-pacific-markets-rally-amid-positive-economic-signals","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/thursday-12th-december-2024-asia-pacific-markets-rally-amid-positive-economic-signals\/","title":{"rendered":"Thursday 12th December 2024: Asia-Pacific Markets Rally Amid Positive Economic Signals"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei up 1.27%, Shanghai Composite up 0.75%, Hang Seng up 1.73% ASX down 0.28%<\/li>\n\n\n\n<li>Commodities : Gold at $2748.35 (-0.24%), Silver at $33.04 (0.28%), Brent Oil at $73.6 (0.46%), WTI Oil at $70.4 (0.49%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.284, UK 10-year yield at 4.3180, Germany 10-year yield at 2.130<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Core CPI m\/m 0.3% vs 0.3% expected<\/li>\n\n\n\n<li>(USD) CPI m\/m 0.3% vs 0.3% expected<\/li>\n\n\n\n<li>(USD) CPI y\/y 2.7% vs 2.7% expected<\/li>\n\n\n\n<li>(CAD) Overnight Rate 3.25% vs 3.25% expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets mostly rose on Wednesday, following Wall Street\u2019s rally where the Nasdaq Composite hit record highs after U.S. inflation data aligned with expectations.<\/p>\n\n\n\n<p>In Australia, the unemployment rate dropped to an eight-month low of 3.9% in November, beating economists\u2019 predictions of a rise to 4.2%. However, Australia\u2019s S&amp;P\/ASX 200 dipped 0.28% to close at 8,330.3.<\/p>\n\n\n\n<p>Japan\u2019s Nikkei 225 climbed 1.3%, while the Topix rose 1%. South Korea\u2019s Kospi gained 0.9%, and the small-cap Kosdaq added 0.4%, as investors monitored the political situation in the country. South Korean President Yoon Suk Yeol stated he would not resign despite growing opposition following his brief martial law declaration.<\/p>\n\n\n\n<p>China\u2019s CSI 300 increased 0.9%, while Hong Kong\u2019s Hang Seng rose 1.2% as investors awaited industrial production data for the third quarter.<\/p>\n\n\n\n<p>In the U.S., Wednesday\u2019s inflation report spurred optimism for a potential Federal Reserve rate cut next week. The Nasdaq surged 1.77% to close at a record 20,034.89. The S&amp;P 500 rose 0.82% to 6,084.19, while the Dow Jones Industrial Average fell 0.22% to 44,148.56.<\/p>\n\n\n\n<p>Tech stocks led gains, with Nvidia up over 3% and Tesla advancing nearly 6%, reflecting broader strength among major companies. The data-driven rally highlighted investor confidence amid favorable economic signals.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>01:15 PM GMT &#8211; EUR Main Refinancing Rate<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; USD Core PPI m\/m<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; USD PPI m\/m<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets mostly rose [&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\/73586"}],"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=73586"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73586\/revisions"}],"predecessor-version":[{"id":73591,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73586\/revisions\/73591"}],"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=73586"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=73586"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=73586"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}