{"id":63314,"date":"2023-11-08T17:54:54","date_gmt":"2023-11-08T06:54:54","guid":{"rendered":"https:\/\/icmarkets.com.au\/blog\/?p=63314"},"modified":"2025-11-10T18:18:44","modified_gmt":"2025-11-10T07:18:44","slug":"wednesday-8th-november-2023-asia-pacific-markets-witness-ongoing-declines-amid-positive-japanese-business-sentiment","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com.au\/blog\/wednesday-8th-november-2023-asia-pacific-markets-witness-ongoing-declines-amid-positive-japanese-business-sentiment\/","title":{"rendered":"Wednesday 8th November 2023: Asia-Pacific Markets Witness Ongoing Declines Amid Positive Japanese Business Sentiment"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.26%, Shanghai Composite down 0.14, Hang Seng down 0.28% ASX up&nbsp; 0.26%<\/li>\n\n\n\n<li>Commodities : Gold at $1974.05 (0.07%), Silver at $22.59 (0.04%), Brent Oil at $81.03 (0.27%), WTI Oil at $77.70 (0.08%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.611, UK 10-year yield at 4.323, Germany 10-year yield at 2.672<\/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>(CAD) Trade Balance 2.0B vs 1.0B expected<\/li>\n\n\n\n<li>(USD) Trade Balance -61.5B vs -59.7B expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>In Asia-Pacific markets on Wednesday, a trend of slight declines continued, as investors considered a positive business sentiment survey from Japan. South Korean stocks pulled back more than 2% from their recent rally, while U.S. markets wrapped up their lengthiest winning streaks in almost two years. The Reuters Tankan poll indicated an uptick in Japanese manufacturers&#8217; business confidence, marking the first positive change since August. The service sector sentiment also improved for the second month, reflecting a challenging economic recovery.<\/p>\n\n\n\n<p>In Japan, the Nikkei 225 index saw a modest 0.12% dip, and the broader Topix index fell by 0.95%. South Korea&#8217;s Kospi index dropped 0.53%, with the Kosdaq slipping 0.89%, as the country reinstated a short-selling ban, erasing a significant portion of Monday&#8217;s gains. Australia&#8217;s S&amp;P\/ASX 200 index managed to close 0.26% higher at 6,995.40. Hong Kong&#8217;s Hang Seng index inched down 0.11%, while China&#8217;s CSI 300 index slipped 0.16%.<\/p>\n\n\n\n<p>On Wall Street, the S&amp;P 500 and Nasdaq Composite extended their longest winning streaks in almost two years, with the S&amp;P 500 closing 0.28% higher and the Nasdaq surging by 0.9%. The Dow Jones Industrial Average edged up 0.17% at the close. The S&amp;P 500 recorded gains for seven consecutive days, the longest streak since November 2021, while the Nasdaq notched its longest winning streak since November 2021, lasting for eight days. The Dow&#8217;s seven consecutive sessions of gains represented its longest streak since July.<\/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>1:30 PM GMT &#8211; CAD Building Permits m\/m<\/li>\n\n\n\n<li>2:15 PM GMT &#8211; USD Fed Chair Powell Speaks<\/li>\n\n\n\n<li>3:00 PM GMT &#8211; USD Final Wholesale Inventories m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: In Asia-Pacific markets on [&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-63314","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\/63314","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=63314"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/63314\/revisions"}],"predecessor-version":[{"id":63320,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/63314\/revisions\/63320"}],"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=63314"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/categories?post=63314"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/tags?post=63314"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}