{"id":73652,"date":"2024-12-17T17:57:20","date_gmt":"2024-12-17T06:57:20","guid":{"rendered":"https:\/\/www.icmarkets.com\/blog\/?p=73652"},"modified":"2025-11-10T20:48:34","modified_gmt":"2025-11-10T09:48:34","slug":"tuesday-17th-december-2024-asia-pacific-markets-mixed-as-investors-eye-fed-decision","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com\/blog\/tuesday-17th-december-2024-asia-pacific-markets-mixed-as-investors-eye-fed-decision\/","title":{"rendered":"Tuesday 17th December 2024: Asia-Pacific Markets Mixed as Investors Eye Fed Decision\u00a0"},"content":{"rendered":"\n<h3><br \/>Global Markets:<\/h3>\n\n\n\n<ul>\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.07%, Shanghai Composite down 0.51%, Hang Seng down 0.20% ASX up 0.78%<\/li>\n\n\n\n<li>Commodities : Gold at $2668.35 (-0.04%), Silver at $30.84 (-0.38%), Brent Oil at $74.09 (-0.16%), WTI Oil at $70.4 (-0.39%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.401, UK 10-year yield at 4.4400, Germany 10-year yield at 2.2430<\/li>\n<\/ul>\n\n\n\n<h3>News &amp; Data:<\/h3>\n\n\n\n<ul>\n<li>(USD) Flash Services PMI 48.3 vs 49.4 expected<\/li>\n\n\n\n<li>(USD) Flash Manufacturing PMI 58.5 vs 55.7 expected<\/li>\n<\/ul>\n\n\n\n<h3>Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets opened mixed on Tuesday, reflecting Wall Street\u2019s uneven performance as investors await the U.S. Federal Reserve\u2019s decision. Australia\u2019s S&amp;P\/ASX 200 gained 0.73%, while Japan\u2019s Nikkei 225 and Topix rose slightly by 0.12% and 0.11%, respectively. In contrast, South Korea\u2019s Kospi dropped 1%, and the Kosdaq declined by 0.92%.<\/p>\n\n\n\n<p>In China, leaders have announced plans to raise the 2025 budget deficit to 4% of GDP to sustain economic growth at 5% for the coming year, according to Reuters. Following this, China\u2019s CSI 300 increased by 1.1%, while Hong Kong\u2019s Hang Seng Index remained relatively flat.<\/p>\n\n\n\n<p>Overnight in the U.S., the Nasdaq Composite reached a record high, rising 1.24% to 20,173.89, driven by a tech rally. The S&amp;P 500 also edged up 0.38% to 6,074.08. However, the Dow Jones Industrial Average dropped 110.58 points, or 0.25%, closing at 43,717.48. This marked its eighth consecutive loss, the longest since 2018.<\/p>\n\n\n\n<p>Investors are now focused on the Federal Reserve\u2019s Dec. 18 meeting, where a 25-basis-point rate cut is widely expected, with the CME FedWatch Tool indicating a 98.2% probability.<\/p>\n\n\n\n<p>Meanwhile, Nvidia, a leading AI chipmaker, bucked the tech rally with a 1.7% decline, pushing its stock into correction territory after falling over 10% from its November peak.<\/p>\n\n\n\n<h3>Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul>\n<li>01:30 PM GMT &#8211; USD Core Retail Sales m\/m<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; USD Retail Sales m\/m<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; CAD CPI m\/m<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; CAD Median CPI y\/y<\/li>\n\n\n\n<li>01:30 PM GMT &#8211; CAD Trimmed CPI y\/y<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets opened mixed [&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\/73652"}],"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=73652"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73652\/revisions"}],"predecessor-version":[{"id":73657,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/posts\/73652\/revisions\/73657"}],"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=73652"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/categories?post=73652"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com\/blog\/wp-json\/wp\/v2\/tags?post=73652"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}