{"id":66914,"date":"2024-07-05T16:38:53","date_gmt":"2024-07-05T06:38:53","guid":{"rendered":"https:\/\/icmarkets.com.au\/blog\/?p=66914"},"modified":"2025-11-10T17:29:05","modified_gmt":"2025-11-10T06:29:05","slug":"friday-5th-july-2024-asian-markets-decline-amid-mixed-economic-signals","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com.au\/blog\/friday-5th-july-2024-asian-markets-decline-amid-mixed-economic-signals\/","title":{"rendered":"Friday 5th July 2024: Asian Markets Decline Amid Mixed Economic Signals"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\">Global Markets:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.07%, Shanghai Composite down 0.37%, Hang Seng down 1.12% ASX down 0.12%<\/li>\n\n\n\n<li>Commodities : Gold at $2373.5 (0.27%), Silver at $30.98 (0.74%), Brent Oil at $86.93 (-0.49%), WTI Oil at $83.31 (-0.67%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.351, UK 10-year yield at 4.232, Germany 10-year yield at 2.576<\/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>(GBP) Construction PMI&nbsp; 52.2 vs 54.0 expected<\/li>\n\n\n\n<li>(CHF) CPI m\/m&nbsp; 0.0% vs 0.1% expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets largely declined on Friday. Japan\u2019s Nikkei 225 experienced a volatile session, falling 0.29% after initially surpassing the 41,000 mark to hit new record highs. The Topix index also dropped 0.59% from record levels.<\/p>\n\n\n\n<p>Japan\u2019s household spending for May unexpectedly decreased by 1.8% in real terms compared to the previous year, contrary to economists&#8217; expectations of a 0.1% increase. This metric is crucial for the Bank of Japan&#8217;s goal of creating a &#8220;virtuous cycle&#8221; of rising wages and prices. The average household spent 290,328 yen ($1,799.28), while the average monthly income rose to 500,231 yen, a 6.4% increase in nominal terms and a 3% increase in real terms from the previous year.<\/p>\n\n\n\n<p>In South Korea, the Kospi index rose 1.38%, and the small-cap Kosdaq increased by 0.91%, making them the only major indexes in Asia to show positive performance. Samsung Electronics projected a nearly 15-fold increase in its second-quarter operating profit due to a rebound in semiconductor prices driven by the artificial intelligence boom, pushing Samsung shares up 2.25% to their highest level since January 2021.<\/p>\n\n\n\n<p>Hong Kong&#8217;s Hang Seng index fell by 1.09%, mainland China&#8217;s CSI300 decreased by 0.96%, and Australia&#8217;s S&amp;P\/ASX 200 saw a slight decline of 0.12%.<\/p>\n\n\n\n<p>In the U.S., markets were closed on Thursday for the Independence Day holiday. However, futures trading was mostly flat ahead of Friday\u2019s session, with Nasdaq 100 futures down 0.1%, S&amp;P 500 futures slightly below the flatline, and Dow Jones Industrial Average futures up 0.05%.<\/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>12:30 PM GMT &#8211; CAD Employment Change<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD Unemployment Rate<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Average Hourly Earnings m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Non-Farm Employment Change<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Unemployment Rate<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets largely declined [&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-66914","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\/66914","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=66914"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/66914\/revisions"}],"predecessor-version":[{"id":66923,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/66914\/revisions\/66923"}],"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=66914"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/categories?post=66914"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/tags?post=66914"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}