Global Markets:
Asia-Pacific markets were mixed on Wednesday, following Wall Street losses and ahead of the Federal Reserve’s rate decision. Investors in Asia also reviewed Japan’s latest trade data before the Bank of Japan’s rate decision later this week.
Japan’s exports increased 3.8% year-on-year in November, surpassing the expected 2.8% growth, while imports fell 3.8%, much more than the anticipated 1% rise. As a result, Japan posted a trade deficit of ¥117.6 billion ($765.2 million), larger than the expected deficit of ¥688.9 billion. Japan’s Nikkei 225 index dropped 0.4%, and the Topix was down 0.05%.
South Korea’s Kospi rose by 1%, though the Kosdaq was down 0.3%. In Australia, the S&P/ASX 200 dipped 0.06%, closing at 8,309.4. Meanwhile, Hong Kong’s Hang Seng index gained 0.6%, and mainland China’s CSI 300 was up 0.5%.
Markets are also awaiting a rate decision from the People’s Bank of China on Friday, as the country’s loan prime rates (LPR) guide both corporate and household lending.
In the U.S., trading on Tuesday saw the Dow Jones Industrial Average fall for the ninth consecutive day, its longest losing streak since 1978, dropping 267.58 points, or 0.61%. The S&P 500 lost 0.39%, and the Nasdaq Composite dropped 0.32%. This decline follows a shift into technology stocks, as the broader market remains strong with the S&P 500 and Nasdaq hitting recent record highs.
The post Wednesday 18th December 2024: Asia-Pacific Markets Mixed as Investors Eye Fed and BOJ Rate Decisions first appeared on IC Markets | Official Blog.
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