{"id":61982,"date":"2023-08-01T18:26:29","date_gmt":"2023-08-01T08:26:29","guid":{"rendered":"https:\/\/icmarkets.com.au\/blog\/?p=61982"},"modified":"2025-11-10T18:38:37","modified_gmt":"2025-11-10T07:38:37","slug":"tuesday-1st-aug-2023-asia-pacific-markets-rise-despite-chinas-factory-activity-contraction","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com.au\/blog\/tuesday-1st-aug-2023-asia-pacific-markets-rise-despite-chinas-factory-activity-contraction\/","title":{"rendered":"Tuesday 1st Aug 2023: Asia-Pacific Markets Rise Despite China&#8217;s Factory Activity Contraction"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><br \/><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp;Asian Stock Markets : Nikkei up 0.79%, Shanghai Composite down 0.02%, Hang Seng dowm 0.28%, ASX up 0.54%<\/li>\n\n\n\n<li>Commodities : Gold at $1993.05 (-0.79%), Silver at $24.66 (-1.23%), Brent Oil at $84.92 (-0.63%), WTI Oil at $81.30 (-0.65%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.972, UK 10-year yield at 4.366, Germany 10-year yield at 2.469<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">News &amp; Data:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>(EUR) CPI Flash Estimate y\/y 5.3% vs 5.3% expected<\/li>\n\n\n\n<li>(EUR) Core CPI Flash Estimate y\/y 5.5% vs 5.4% expected<\/li>\n\n\n\n<li>(EUR) Prelim Flash GDP q\/q 0.3% vs 0.2% expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets saw a rise on Monday despite China&#8217;s factory activity remaining in contraction territory for the fourth consecutive month. The official manufacturing Purchasing Managers&#8217; Index (PMI) for July came in at 49.3, slightly higher than June&#8217;s figure of 49.0, according to the national bureau of statistics. However, the PMI for non-manufacturing activity showed a slower rate of expansion, coming in at 51.5, compared to June&#8217;s 53.2.<\/p>\n\n\n\n<p>In Hong Kong, the Hang Seng index rose 0.83% in its final hour of trade, while the Hang Seng Tech index witnessed a larger climb of 1.87%. Notably, this marked the first time in over a month that the HSI breached the 20,000 mark. Mainland Chinese markets also experienced gains, with the Shanghai Composite rising 0.46% to close at 3,291.04 and the Shenzhen Component ending 0.75% higher at 11,183.91. Meanwhile, Japan&#8217;s Nikkei 225 gained 1.26% to close at 33,172, and the broader Topix saw a larger rise of 1.39%, reaching a new 33-year record at 2,322.56. However, Japan&#8217;s industrial output for June fell below economists&#8217; expectations, registering a 2% growth month on month, compared to the anticipated 2.4%.<\/p>\n\n\n\n<p>As investors in Australia prepared for the Reserve Bank of Australia&#8217;s rate decision on Tuesday, the S&amp;P\/ASX 200 climbed marginally, closing at 7,410.4. Economists polled by Reuters were expecting a 25 basis points hike in its benchmark policy rate to 4.35%.<\/p>\n\n\n\n<p>In commodities markets, prices showed mixed movements. Gold dipped by 0.79% to reach $1993.05, while silver experienced a decline of 1.23%, settling at $24.66. Brent Oil also saw a slight decrease of 0.63%, ending at $84.92, and WTI Oil dropped by 0.65% to $81.30.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Upcoming Events:&nbsp;<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>2:00 PM GMT &#8211; USD ISM Manufacturing PMI<\/li>\n\n\n\n<li>2:00 PM GMT &#8211; USD JOLTS Job Openings<\/li>\n\n\n\n<li>2:00 PM GMT &#8211; USD ISM Manufacturing Prices<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets saw a [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":74214,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[196,215,339],"tags":[],"class_list":["post-61982","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis","category-recent-posts"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/61982","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/comments?post=61982"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/61982\/revisions"}],"predecessor-version":[{"id":61985,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/61982\/revisions\/61985"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/media\/74214"}],"wp:attachment":[{"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/media?parent=61982"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/categories?post=61982"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/tags?post=61982"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}