Tuesday 15th October 2024: Asia-Pacific Markets Mixed Amid Record Gains on Wall Street

Global Markets:
Asian Stock Markets : Nikkei up 1.24%, Shanghai Composite down 1.06%, Hang Seng down 1.8% ASX up 0.79%
Commodities : Gold at $2657.35 -(0.24%), Silver at $31.10 (-0.54%), Brent Oil at $74.14 (-3.66%), WTI Oil at $70.98 (-3.52%)
Rates : US 10-year yield at 4.093, UK 10-year yield at 4.240, Germany 10-year yield at 2.276

News & Data:
(CNY) Trade Balance 583B vs 651B expected

Markets Update:
Asia-Pacific markets were mixed on Tuesday, following record-breaking gains on Wall Street, where both the Dow Jones Industrial Average and the S&P 500 reached new all-time highs. Investors in the region were focused on trade data from South Korea, which reported a sharp rise in trade surplus, jumping to $6.7 billion in September from $3.7 billion in August. Despite this, South Korea’s Kospi and the small-cap Kosdaq indexes remained mostly flat.

In China, the mainland CSI 300 index fell by 0.5%, recovering some ground after an earlier drop of more than 1%. Meanwhile, Hong Kong’s Hang Seng index declined by 1.8%. China’s September trade data, released after markets closed on Monday, missed expectations, with exports increasing by 2.4% year-over-year and imports up by just 0.3%.

Japan’s Nikkei 225 performed strongly, rising by 1.3%, while the broader Topix index gained 1%. Australia’s S&P/ASX 200 also saw positive movement, climbing 0.8%. Despite regional differences, some markets in Asia benefited from the positive sentiment carried over from Wall Street.

In the U.S., the S&P 500 rose 0.77% to 5,859.85, while the Dow Jones Industrial Average gained 201.36 points to close at 43,065.22, marking its first close above the 43,000 level. The Nasdaq Composite also saw growth, advancing 0.87% to finish at 18,502.69. The record highs in the U.S. markets fueled optimism but were met with mixed reactions across Asia.

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Publication date:

15 October 2024 - 19:43 (GMT)