{"id":66210,"date":"2024-05-23T18:20:45","date_gmt":"2024-05-23T08:20:45","guid":{"rendered":"https:\/\/icmarkets.com.au\/blog\/?p=66210"},"modified":"2025-11-10T17:39:33","modified_gmt":"2025-11-10T06:39:33","slug":"thursday-23rd-may-2024-asian-markets-react-to-feds-inflation-concerns-and-rate-hesitancy","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com.au\/blog\/thursday-23rd-may-2024-asian-markets-react-to-feds-inflation-concerns-and-rate-hesitancy\/","title":{"rendered":"Thursday 23rd May 2024: Asian Markets React to Fed&#8217;s Inflation Concerns and Rate Hesitancy"},"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 0.86%, Shanghai Composite down 1.33%, Hang Seng down 1.73% ASX down 0.05%<\/li>\n\n\n\n<li>Commodities : Gold at $2359.5 (-1.43%), Silver at $30.48 (-3.21%), Brent Oil at $81.97 (-0.08%), WTI Oil at $77.52 (-0.08%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.448, UK 10-year yield at 4.31, Germany 10-year yield at 2.57<\/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>(USD) Existing Home Sales&nbsp; 4.14M vs 4.21M expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets exhibited a mixed response to the latest U.S. Federal Reserve meeting minutes, which revealed concerns about inflation and reluctance regarding interest rate adjustments. Hong Kong&#8217;s Hang Seng index declined by 1.73%, while Japan&#8217;s Nikkei 225 rose by 0.86%. South Korea&#8217;s central bank maintained its benchmark rate at 3.5%, with expectations of a potential cut later in the year.&nbsp;<\/p>\n\n\n\n<p>In other economic news, Singapore&#8217;s GDP remained steady at 2.7%, while Australia&#8217;s S&amp;P\/ASX 200 experienced a 0.06% decrease. In the U.S., the Dow Jones fell by 0.51%, the S&amp;P 500 dropped by 0.27%, and the Nasdaq declined by 0.18%. Minutes from the Fed&#8217;s meeting underscored policymakers&#8217; uncertainty regarding future easing measures.<\/p>\n\n\n\n<p>However, amidst market caution, Nvidia saw significant gains as its shares surpassed the $1,000 mark after reporting robust fiscal first-quarter results.<\/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>1:45 PM GMT &#8211; USD Flash Manufacturing PMI<\/li>\n\n\n\n<li>1:45 PM GMT &#8211; USD Flash Services PMI<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets exhibited 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-66210","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\/66210","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=66210"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/66210\/revisions"}],"predecessor-version":[{"id":66232,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/66210\/revisions\/66232"}],"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=66210"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/categories?post=66210"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/tags?post=66210"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}