{"id":68584,"date":"2024-10-17T17:10:20","date_gmt":"2024-10-17T06:10:20","guid":{"rendered":"https:\/\/icmarkets.com.au\/blog\/?p=68584"},"modified":"2025-11-10T16:48:20","modified_gmt":"2025-11-10T05:48:20","slug":"thursday-17th-october-2024-asian-markets-mixed-as-china-property-stocks-fall-u-s-markets-rally","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com.au\/blog\/thursday-17th-october-2024-asian-markets-mixed-as-china-property-stocks-fall-u-s-markets-rally\/","title":{"rendered":"Thursday 17th October 2024: Asian Markets Mixed as China Property Stocks Fall, U.S. Markets Rally"},"content":{"rendered":"\n<p> <\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Asian Markets Mixed as China Property Stocks Fall, U.S. Markets Rally<br \/><br \/>Global Markets:<\/h3>\n\n\n\n<ul class=\"wp-block-list\">\n<li>&nbsp;Asian Stock Markets : Nikkei down 0.54%, Shanghai Composite up 0.26%, Hang Seng up 0.83% ASX up 0.72%<\/li>\n\n\n\n<li>Commodities : Gold at $2697.35 (0.24%), Silver at $31.80 (-0.54%), Brent Oil at $74.54 (0.36%), WTI Oil at $70.8 (0.52%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.039, UK 10-year yield at 4.066, Germany 10-year yield at 2.177<\/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) Manufacturing Sales m\/m&nbsp; -1.3%&nbsp; vs -1.5% expected<\/li>\n\n\n\n<li>(USD) Import Prices m\/m&nbsp; -0.4%&nbsp; vs -0.3% expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>China\u2019s property stocks dropped following a briefing by the housing ministry, while the broader CSI 300 rose alongside most other Asia-Pacific markets. The CSI 300 real estate index, which had gained over 5% on Wednesday, fell by 7%, while the CSI 300 increased by 0.3%. Hong Kong\u2019s Hang Seng index rose 0.8% after policy announcements from its chief executive, although the Hang Seng Mainland Properties Index dropped 3.6%.<\/p>\n\n\n\n<p>In Japan, the Nikkei 225 slipped by 0.5%, while the broader Topix gained 0.3%. Investors were reacting to trade data that showed a 1.7% drop in exports for September, a surprise contraction compared to the 0.5% growth economists had expected. This marked the first decline in exports this year, following a 5.5% increase in August. Meanwhile, imports rose 2.1%, falling short of the forecasted 3.2% growth.<\/p>\n\n\n\n<p>Australia\u2019s S&amp;P\/ASX 200 rose by 0.72%, closing at 8,355.9. The country\u2019s unemployment rate for September came in at 4.1%, slightly better than expectations, while labor participation increased to 67.2%. South Korea\u2019s Kospi traded flat, while the small-cap Kosdaq was down by 0.1%. Taiwan\u2019s Taiex saw a modest gain of 0.2%, with Taiwan Semiconductor Manufacturing Company\u2019s earnings report expected to draw attention.<\/p>\n\n\n\n<p>In the U.S., the stock market saw gains overnight. The Dow Jones added 337.28 points, or 0.79%, closing at 43,077.70. The S&amp;P 500 increased by 0.47%, while the Nasdaq Composite rose 0.28%, driven by a broad market rally.<\/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 Unemployment Claims<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Core Retail sales m\/m<\/li>\n\n\n\n<li>12:30 PM GMT &#8211; USD Retail Sales m\/m<\/li>\n\n\n\n<li>12:45 PM GMT &#8211; EUR ECB Press conference<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Asian Markets Mixed as China Property Stocks Fall, U.S. Markets Rally [&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-68584","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\/68584","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=68584"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/68584\/revisions"}],"predecessor-version":[{"id":68587,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/68584\/revisions\/68587"}],"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=68584"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/categories?post=68584"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/tags?post=68584"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}