On Friday morning (13 December, 9:21 AM, GMT+7, Bangkok time), major indices in Asia Pacific exhibited a downward trend, led by losses in the Chinese markets, following Beijing’s confirmation of recent policy adjustments and emphasis on stimulating growth after a significant meeting on Thursday. Other markets in the region also declined, reflecting the movements seen on Wall Street, which was impacted by a higher-than-forecasted reading on producer price inflation.
The US producer price index (PPI) rose by 0.4% in November, surpassing the 0.2% estimate by Dow Jones and surged by 3% on a yearly basis, marking its most significant increase since the twelve months ending in February 2023.
Additionally, investors also analyzed the Bank of Japan’s Tankan survey, which indicated a level of optimism among major Japanese manufacturers.
In the quarter ending in December, the Tankan index for large manufacturing companies climbed to 14, up from 13 in the September quarter and surpassing the anticipated figure of 12 from economists surveyed by Reuters.
Japan’s NIKKEI dropped by 1.37% to 39,305.09. South Korea’s KOSPI dipped by 0.08% to 2,480.2, and Australia’s ASX 200 contracted by 0.64% to 8,276.8.
As for stocks in China, Shanghai’s SSEC declined by 1.32% to 3,415.66. Hong Kong’s HSI slumped by 1.68% to 20,054.19, and Shenzhen’s SZI diminished by 1.65% to 10,776.58.
Meanwhile, the US stock markets edged down on Thursday as the Dow Jones Industrial Average (DJIA) decreased by 0.53% to 43,914.12. NASDAQ shrank by 0.66% to 19,902.84, and S&P 500 fell by 0.54% to 6,051.25. VIX grew by 2.5% to 13.92.
As for commodities, oil prices settled slightly lower on Thursday as a projected surplus in the oil market offset positive sentiment driven by increasing hopes for the US Federal Reserve’s interest rate reduction. Brent futures slid 11 cents or 0.14% to $73.41 a barrel, and the West Texas Intermediate (WTI) dropped 27 cents or 0.38% to $70.02 per barrel.
This morning, Brent futures lost 3 cents or 0.04% to $73.38 a barrel, and the WTI declined 1 cent or 0.01% to $70.01 per barrel.
Meanwhile, gold futures dipped 0.01% to $2,709 per Troy ounce.
