Asia Pacific Markets Fall as the Rally Factors Fade Out

On Friday morning (17 Nov, 9:30 AM, GMT+7, Bangkok time), most of Asia Pacific major indices fell as this week’s rally factors from the easing of US inflation, Fed rate cut expectation and anticipation of the result of the US-China President meeting, seems to fade out.


Japan’s NIKKEI edged down by 0.03% to 33,414.63. South Korea’s KOSPI dropped by 0.81% to 2,468.13, and Australia’s ASX 200 edged down by 0.18% to 7,045.4.

As for stocks in China, Shanghai’s SSEC slid by 0.46% to 3,037.04. Hong Kong’s HSI fell by 1.8% to 17,510.94, and Shenzhen’s SZI went down by 0.28% to 9,926.93.


Meanwhile, US markets were mixed after the bad news on a few big names’ earning calls. The data on export and import price indexes, together with weekly jobless claims, which both published at more negative than expected, could possibly have contributed to this mix as well.


Network big name, CISCO crashed by almost 10%, along with the mega retailer, WMT that fell sharply by 8% after its CFO needed to “rethink” consumer health. Both contrast to the CPU manufacturer, INTL that hiked by 6.75%.

Dow Jones Industrial Average (DJIA) went down by 0.13% to 34,945.47. NASDAQ barely edged up by 0.07% to 14,113.67 and S&P 500 slightly rose by 0.12% to 4,508.24. On the other hand, VIX reversed to rise by 0.99% to 14.32.


As for commodities futures, the crude oil future fell from over $90 per barrel for four straight weeks, as Brent settled lower by 4.63% to $77.42 per barrel, while the West Texas Intermediate (WTI) fell by 4.9% to $72.90 a barrel.

As for this morning, Brent slightly gained by 0.19% to $77.57 a barrel and WTI also followed up by 0.16% to $73.02 per barrel. Furthermore, the gold futures barely edged down by 0.01% to $1,987.1 per Troy ounce, closing in the $2,000 level again.