{"id":68954,"date":"2024-11-11T17:21:23","date_gmt":"2024-11-11T06:21:23","guid":{"rendered":"https:\/\/icmarkets.com.au\/blog\/?p=68954"},"modified":"2025-11-10T16:42:56","modified_gmt":"2025-11-10T05:42:56","slug":"monday-11th-november-2024-asia-pacific-markets-drop-on-chinas-weak-stimulus","status":"publish","type":"post","link":"https:\/\/www.icmarkets.com.au\/blog\/monday-11th-november-2024-asia-pacific-markets-drop-on-chinas-weak-stimulus\/","title":{"rendered":"Monday 11th November 2024: Asia-Pacific Markets Drop on China\u2019s Weak Stimulus"},"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 0.06%, Shanghai Composite up 0.18%, Hang Seng down 1.79% ASX down 0.4%<\/li>\n\n\n\n<li>Commodities : Gold at $2676.35 (-0.64%), Silver at $31.7 (-0.18%), Brent Oil at $73.34 (-0.16%), WTI Oil at $70.2 (-0.29%)<\/li>\n\n\n\n<li>Rates : US 10-year yield at 4.342, UK 10-year yield at 4.431, Germany 10-year yield at 2.364<\/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) Unemployment Rate&nbsp; 6.5% vs 6.6% expected<\/li>\n\n\n\n<li>(CAD) Employment Change&nbsp; 14.5K vs 27.9K expected<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Markets Update:<\/h3>\n\n\n\n<p>Asia-Pacific markets declined on Monday as China\u2019s new stimulus package and lower-than-expected October inflation raised concerns about the country&#8217;s economic recovery. Beijing\u2019s five-year, 10 trillion yuan ($1.4 trillion) stimulus plan, aimed at addressing local government debt, failed to inspire confidence in growth among analysts.<\/p>\n\n\n\n<p>China\u2019s inflation rate dropped to 0.3%, below the anticipated 0.4%, marking its lowest point in four months. This was the second consecutive monthly decrease, highlighting potential challenges in the world\u2019s second-largest economy.<\/p>\n\n\n\n<p>On Monday, China launched Singles\u2019 Day, its answer to Black Friday, which ING analysts view as a potential indicator of consumer sentiment. They expect continued growth in value-focused and online shopping, potentially exceeding the broader consumption growth trend.<\/p>\n\n\n\n<p>Across Asia, markets reacted to these developments. Hong Kong\u2019s Hang Seng index fell nearly 2.5%, while China\u2019s CSI 300 declined by 1%. Japan\u2019s Nikkei 225 dropped 0.4%, with the Topix slightly down by 0.32%. South Korea\u2019s Kospi fell 1%, and the Kosdaq slipped 1.9%. Australia\u2019s S&amp;P\/ASX 200 dipped 0.43%.<\/p>\n\n\n\n<p>In the U.S., Friday saw a record close for the Dow Jones Industrial Average and S&amp;P 500, marking their strongest week in a year, partly spurred by Donald Trump\u2019s election victory. The Dow rose by 259.65 points to 43,988.99, briefly trading above 44,000 for the first time, while the S&amp;P 500 reached 5,995.54, after trading over 6,000 briefly. The Nasdaq Composite had a modest increase of 0.09%, ending at 19,286.78.<\/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>01:30 PM GMT &#8211; GBP CB Leading Index m\/m<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: News &amp; Data: Markets Update: Asia-Pacific markets declined on [&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-68954","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\/68954","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=68954"}],"version-history":[{"count":2,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/68954\/revisions"}],"predecessor-version":[{"id":68957,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/posts\/68954\/revisions\/68957"}],"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=68954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/categories?post=68954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.icmarkets.com.au\/blog\/wp-json\/wp\/v2\/tags?post=68954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}