{"id":64225,"date":"2024-01-17T17:10:22","date_gmt":"2024-01-17T06:10:22","guid":{"rendered":"https:\/\/icmarkets.com.au\/blog\/?p=64225"},"modified":"2025-11-10T18:07:25","modified_gmt":"2025-11-10T07:07:25","slug":"wednesday-17th-january-2024-asian-markets-retreat-as-chinas-gdp-misses-estimates-and-global-concerns-mount","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com.au\/blog\/wednesday-17th-january-2024-asian-markets-retreat-as-chinas-gdp-misses-estimates-and-global-concerns-mount\/","title":{"rendered":"Wednesday 17th January 2024: Asian Markets Retreat as China&#8217;s GDP Misses Estimates and Global Concerns Mount"},"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 0.32%, Shanghai Composite down 1.01%, Hang Seng down 3.47% ASX down 0.29%<\/li>\n\n\n\n<li>Commodities : Gold at $2022.5 (-0.41%), Silver at $22.83 (-0.79%), Brent Oil at $77.22 (-0.61%), WTI Oil at $72.07 (-0.65%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.064, UK 10-year yield at 3.859, Germany 10-year yield at 2.247<\/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) CPI m\/m -0.3% vs -0.3% expected<\/li>\n\n\n\n<li>(CAD) Media CPI m\/m 3.6% vs 3.3% expected<\/li>\n\n\n\n<li>(CAD) Trimmed CPI y\/y 3.7% vs 3.4% expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets extended losses on Wednesday, led by Hong Kong, as China&#8217;s fourth-quarter GDP growth of 5.2% fell short of the 5.3% forecast. Hong Kong&#8217;s Hang Seng index plunged 3.06%, and China&#8217;s CSI 300 index declined by 0.73%. South Korea&#8217;s Kospi and Kosdaq dropped over 2%, while Australia&#8217;s S&amp;P\/ASX 200 fell for the fourth consecutive day, down 0.27%.<\/p>\n\n\n\n<p>In contrast, Japan&#8217;s Nikkei 225 rebounded by 0.54%, and the Topix rose by 0.59%. China AMC Fund Management Co temporarily suspended Nikkei 225 ETF fund trading due to high premiums.<\/p>\n\n\n\n<p>Overnight in the U.S., all three major indexes declined as bond yields rose. The 10-year Treasury note yield surged over 11 basis points to 4.064% after Federal Reserve Governor Christopher Waller hinted at a slower pace for monetary policy adjustments. The Dow Jones Industrial Average fell 0.62%, the S&amp;P 500 slipped 0.37%, and the Nasdaq Composite dropped 0.19%.<\/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 IPPI m\/m<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; CAD RMPI m\/m<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD Core Retail Sales m\/m<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD Retail Sales m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets extended losses [&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-64225","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\/64225","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=64225"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/64225\/revisions"}],"predecessor-version":[{"id":64226,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/64225\/revisions\/64226"}],"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=64225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/categories?post=64225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/tags?post=64225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}