{"id":67678,"date":"2024-08-21T15:56:05","date_gmt":"2024-08-21T05:56:05","guid":{"rendered":"https:\/\/icmarkets.com.au\/blog\/?p=67678"},"modified":"2025-11-10T17:02:04","modified_gmt":"2025-11-10T06:02:04","slug":"wednesday-21st-august-2024-asia-pacific-markets-decline-amid-weak-trade-data-and-u-s-losses","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com.au\/blog\/wednesday-21st-august-2024-asia-pacific-markets-decline-amid-weak-trade-data-and-u-s-losses\/","title":{"rendered":"Wednesday 21st August 2024: Asia-Pacific Markets Decline Amid Weak Trade Data and U.S. Losses"},"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 0.51%, Shanghai Composite down 0.30%, Hang Seng down 1.03% ASX down 0.02%<\/li>\n\n\n\n<li>Commodities : Gold at $2554.35 (0.19%), Silver at $29.59 (0.21%), Brent Oil at $77.18 (-0.09%), WTI Oil at $73.02 (-0.12%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.808, UK 10-year yield at 3.918, Germany 10-year yield at 2.205<\/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&nbsp; 0.4% vs 0.4% expected<\/li>\n\n\n\n<li>(CAD) Median CPI y\/y&nbsp; 2.4% vs 2.5% expected<\/li>\n\n\n\n<li>(CAD) Trimmed CPI y\/y&nbsp; 2.7% vs 2.8% expected<\/li>\n\n\n\n<li>(CAD) Common CPI y\/y&nbsp; 2.2% vs 2.2% expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>.Asia-Pacific markets mostly declined on Wednesday, following a downturn in U.S. benchmark indexes, with the S&amp;P 500 and Nasdaq Composite ending their eight-day winning streak. Japan&#8217;s trade data for July showed a 10.3% increase in exports and a 16.6% rise in imports year-on-year. However, these figures were below economists&#8217; expectations, leading to a trade deficit of 621.84 billion yen ($4.28 billion), significantly higher than the anticipated 330.7 billion yen.<\/p>\n\n\n\n<p>This latest trade data comes just before the Bank of Japan&#8217;s recent interest rate hike, which has strengthened the yen. Typically, a weaker yen benefits Japanese exporters and trading houses, both of which are major players on the Nikkei 225. However, after the release of the data, Japan&#8217;s Nikkei 225 slipped 0.5%, while the broader Topix index fell 0.23%.<\/p>\n\n\n\n<p>Elsewhere in Asia, Hong Kong\u2019s Hang Seng index dropped 0.93%, and mainland China\u2019s CSI 300 fell 0.19%. The Hang Seng was particularly dragged down by technology and consumer cyclical stocks, with JD.com leading the declines, plunging 11.4% after Walmart announced plans to sell its stake in the Chinese e-commerce giant, reportedly valued at $3.74 billion.<\/p>\n\n\n\n<p>South Korea\u2019s Kospi was the exception, reversing earlier losses to climb 0.26%, making it the only major index in positive territory, although the small-cap Kosdaq dropped 0.91%. Australia&#8217;s S&amp;P\/ASX 200 also experienced a slight decline. Meanwhile, in the U.S., the S&amp;P 500, Nasdaq Composite, and Dow Jones Industrial Average all posted modest losses overnight.<\/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 IPPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; CAD RMPI m\/m<\/li>\n\n\n\n<li>02:30 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 mostly 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-67678","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\/67678","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=67678"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/67678\/revisions"}],"predecessor-version":[{"id":67680,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/67678\/revisions\/67680"}],"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=67678"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/categories?post=67678"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/tags?post=67678"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}