Global Markets:
China’s 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’s Hang Seng index rose 0.8% after policy announcements from its chief executive, although the Hang Seng Mainland Properties Index dropped 3.6%.
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.
Australia’s S&P/ASX 200 rose by 0.72%, closing at 8,355.9. The country’s unemployment rate for September came in at 4.1%, slightly better than expectations, while labor participation increased to 67.2%. South Korea’s Kospi traded flat, while the small-cap Kosdaq was down by 0.1%. Taiwan’s Taiex saw a modest gain of 0.2%, with Taiwan Semiconductor Manufacturing Company’s earnings report expected to draw attention.
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&P 500 increased by 0.47%, while the Nasdaq Composite rose 0.28%, driven by a broad market rally.
The post Thursday 17th October 2024: Asian Markets Mixed as China Property Stocks Fall, U.S. Markets Rally first appeared on IC Markets | Official Blog.
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