{"id":68009,"date":"2024-09-12T15:52:12","date_gmt":"2024-09-12T05:52:12","guid":{"rendered":"https:\/\/icmarkets.com.au\/blog\/?p=68009"},"modified":"2025-11-10T16:56:44","modified_gmt":"2025-11-10T05:56:44","slug":"thursday-12th-september-2024-asia-pacific-markets-surge-amid-tech-rally-and-economic-data-releases","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com.au\/blog\/thursday-12th-september-2024-asia-pacific-markets-surge-amid-tech-rally-and-economic-data-releases\/","title":{"rendered":"Thursday 12th September 2024: Asia-Pacific Markets Surge Amid Tech Rally and Economic Data Releases"},"content":{"rendered":"\n<h3 class=\"wp-block-heading\"><br \/>Global Markets:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp;Asian Stock Markets : Nikkei up 3.43%, Shanghai Composite up 0.22%, Hang Seng up 1.18% ASX up 0.98%<\/li>\n\n\n\n<li>Commodities : Gold at $2545.35 (0.14%), Silver at $29.19 (0.61%), Brent Oil at $71.20 (0.89%), WTI Oil at $67.8 (0.78%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 3.667, UK 10-year yield at 3.762, Germany 10-year yield at 2.098<\/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) Core CPI m\/m&nbsp; 0.3% vs 0.2% expected<\/li>\n\n\n\n<li>(USD) CPI m\/m&nbsp; 0.2% vs 0.2% expected<\/li>\n\n\n\n<li>(USD) CPI y\/y&nbsp; 2.5%&nbsp; vs 2.5% expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p><br \/>.Asia-Pacific markets opened higher on Thursday, following Wall Street&#8217;s tech-driven rally. Japan\u2019s Nikkei 225 surged 3.41%, and Taiwan\u2019s Weighted Index rose 3%. Semiconductor-related stocks led the charge, with Tokyo Electron up 4.8%, Advantest up 9%, and Renesas Electronics climbing 3.47%. SoftBank Group, which holds a stake in chip designer Arm, jumped 8.4%.<\/p>\n\n\n\n<p>In South Korea, the Kospi rose 1.67% while the Kosdaq gained 3%. Major chipmakers SK Hynix and Samsung Electronics soared over 8% and 1.85%, respectively. Taiwan Semiconductor Manufacturing Company advanced 5.13%, and Hon Hai Precision Industry (Foxconn) gained 4.13%.These gains came after Nvidia CEO Jensen Huang highlighted strong demand for AI chips. Shares of Seven &amp; i Holdings surged 7.3% after Bloomberg reported that Alimentation Couche-Tard may increase its bid for the Japanese retailer. However, Couche-Tard has yet to finalize its decision.<\/p>\n\n\n\n<p>On the economic front, Japan\u2019s producer price index rose 2.5% year-on-year in August, slightly below expectations. Meanwhile, Hong Kong&#8217;s producer price index and India\u2019s August consumer price index are expected later today.<\/p>\n\n\n\n<p>Australia\u2019s S&amp;P\/ASX 200 rose 0.9%, and Hong Kong\u2019s Hang Seng index edged up 1%. Overnight, the S&amp;P 500 gained 1.07%, the Nasdaq rose 2.17%, and the Dow Jones inched up 0.31%. Investors are now eyeing the U.S. producer price index release.<\/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; USD Core PPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD PPI m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Unemployment Claims<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: .Asia-Pacific markets opened higher [&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-68009","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\/68009","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=68009"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/68009\/revisions"}],"predecessor-version":[{"id":68012,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/68009\/revisions\/68012"}],"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=68009"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/categories?post=68009"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/tags?post=68009"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}