{"id":64521,"date":"2024-02-07T16:30:39","date_gmt":"2024-02-07T05:30:39","guid":{"rendered":"https:\/\/icmarkets.com.au\/blog\/?p=64521"},"modified":"2025-11-10T18:04:02","modified_gmt":"2025-11-10T07:04:02","slug":"wednesday-7th-february-2024-asian-markets-show-mixed-trends-amid-earnings-and-global-concerns","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com.au\/blog\/wednesday-7th-february-2024-asian-markets-show-mixed-trends-amid-earnings-and-global-concerns\/","title":{"rendered":"Wednesday 7th February 2024: Asian Markets Show Mixed Trends Amid Earnings and Global Concerns"},"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 0.18%, Shanghai Composite up 0.30%, Hang Seng down 0.41% ASX up 0.45%<\/li>\n\n\n\n<li>Commodities : Gold at $2050.5 (-0.02%), Silver at $22.47 (-0.34%), Brent Oil at $78.65 (0.06%), WTI Oil at $73.47 (0.17%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.09, UK 10-year yield at 3.975, Germany 10-year yield at 2.278<\/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) Building Permits m\/m -14% vs&nbsp; 1.8% expected<\/li>\n\n\n\n<li>(CAD) Ivey PMI&nbsp; 56.5 vs 55.0 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 mixed movements on Wednesday, with Japan&#8217;s Nikkei facing a 0.11% decline, in contrast to positive trends in other regions. DBS Group, Southeast Asia&#8217;s largest bank, reported a 2% YoY increase in Q4 net profit to $2.39 billion, leading to a 2% rise in its shares. Meanwhile, China&#8217;s top chipmaker, SMIC, expressed concerns about global macroeconomic challenges impacting its 2024 business outlook, leading to a 5% fall in its shares in Hong Kong.<\/p>\n\n\n\n<p>In Hong Kong, electric vehicle shares gained momentum following the release of China&#8217;s commerce ministry&#8217;s plan for the &#8220;healthy development of new energy vehicles.&#8221; South Korea&#8217;s Kospi led Asian gains with a 1.4% increase, while Australia&#8217;s S&amp;P\/ASX 200 rose by 0.61% after the central bank maintained rates at 4.35%.<\/p>\n\n\n\n<p>Overnight in the U.S., all three major indexes recorded gains on the back of positive quarterly earnings. The S&amp;P 500 rose by 0.23%, the Nasdaq Composite inched up by 0.07%, and the Dow Jones Industrial Average saw a 0.37% jump. Overall, market dynamics reflected a mix of regional economic outlooks and corporate performance influencing investor sentiment.<\/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 Trade Balance<\/li>\n\n\n\n<li>1:30 PM GMT &#8211; USD Trade Balance<\/li>\n\n\n\n<li>3:30 PM GMT &#8211; USD Crude Oil Inventories<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets saw mixed [&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-64521","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\/64521","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=64521"}],"version-history":[{"count":1,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/64521\/revisions"}],"predecessor-version":[{"id":64522,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/64521\/revisions\/64522"}],"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=64521"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/categories?post=64521"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/tags?post=64521"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}