Asia Pacific Markets Fall as Investors Assess Higher-Than-Expected US PPI Data

On Friday morning (15 Mar, 9:39 AM, GMT+7, Bangkok time), major indices in Asia Pacific fell after the US announced its producer price index (PPI), which accelerated at a faster-than-expected 0.6% MoM and 1.6% YoY in February.


Japan’s NIKKEI slid by 0.13% to 38,757.53. South Korea’s KOSPI edged down by 1.01% to 2,691.22, and Australia’s ASX 200 declined by 1.17% to 7,623.6.

As for stocks in China, Shanghai’s SSEC dropped by 0.27% to 3,030.16. Hong Kong’s HSI slumped by 1.65% to 16,682.16, and Shenzhen’s SZI fell by 0.55% to 9,502.57.


Meanwhile, the US stock markets edged lower on Thursday as the Dow Jones Industrial Average (DJIA) dipped by 0.35% to 38,905.66. NASDAQ decreased by 0.3% to 16,128.53, and S&P 500 contracted by 0.29% to 5,150.48. VIX jumped by 4.73% to 14.4.


As for commodities, oil prices settled higher on Thursday as the International Energy Agency (IEA) raised its view on oil demand growth in 2024, while also expecting less supply forecast for the year. Brent grew $1.39 or 1.7% to $85.42 per barrel, and the West Texas Intermediate (WTI) gained $1.54 or 1.9% to $81.26 a barrel.

This morning, Brent lost 15 cents or 0.18% to $85.27 a barrel, and WTI decreased 9 cents or 0.11% to $81.17 per barrel.

Meanwhile, gold futures slid by 0.05% to $2,166.4 per Troy ounce.