{"id":57123,"date":"2023-03-06T18:07:49","date_gmt":"2023-03-06T07:07:49","guid":{"rendered":"https:\/\/icmarkets.eu\/blog\/?p=57123"},"modified":"2025-11-11T19:23:49","modified_gmt":"2025-11-11T08:23:49","slug":"monday-6th-march-2023-asia-pacific-equities-mixed-as-investors-assess-chinas-growth-target-and-await-economic-data","status":"publish","type":"post","link":"https:\/\/icmarkets.eu\/blog\/fundamental-analysis\/monday-6th-march-2023-asia-pacific-equities-mixed-as-investors-assess-chinas-growth-target-and-await-economic-data\/","title":{"rendered":"Monday 6th March 2023: Asia-Pacific Equities Mixed as Investors Assess China&#8217;s Growth Target and Await Economic Data"},"content":{"rendered":"<h3><span style=\"font-weight: 400;\">Global Markets:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Asian Stock Markets : Nikkei up 1.11%, Shanghai Composite down 0.23%, Hang Seng up 0.48%, ASX up 0.62%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commodities : Gold at $1859.25 (+0.25%), Silver at $21.33 (+0.42%), Brent Oil at $85.20 (-0.73%), WTI Oil at $79.13 (-0.69%)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rates : US 10-year yield at 3.940, UK 10-year yield at 3.885, Germany 10-year yield at 2.661<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">News &amp; Data:<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(NZD) ANZ Commodity Prices m\/m 1.30% vs -0.90% previous<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(AUD) MI Inflation Gauge m\/m 0.40% vs 0.90% previous<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) ISM Services PMI 55.1 vs 54.5 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) Final Services PMI 50.6 vs 50.5 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CAD) Labor Productivity q\/q -0.50% vs 0.20% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CAD) Building Permits m\/m -4.00% vs 1.70% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(EUR) PPI m\/m -2.80% vs -0.30% expected<\/span><\/li>\n<\/ul>\n<h3><span style=\"font-weight: 400;\">Markets Update:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Asia-Pacific equities traded with mixed results on Monday as investors continue to analyze China&#8217;s growth target set during its parliamentary sessions and await a week&#8217;s worth of economic data. Bond markets remain on edge in anticipation of an update on the US rate outlook from the world&#8217;s most influential central banker, and a jobs report that could influence whether the next hike will need to be substantial.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The technology-heavy bourses fared well, following a strong lead-in from Wall Street indexes. The Taiwan Weighted index surged by 1.2%, while South Korea&#8217;s KOSPI added 1%. The Nikkei 225 index in Japan also climbed by 1.2%, with markets speculating that the Bank of Japan will retain its ultra-loose policy in the short term. On the other hand, China&#8217;s Shanghai Shenzhen CSI 300 index declined by 0.6%, while the Shanghai Composite index shed 0.3% after government officials set a 5% economic growth target for 2023 over the weekend.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The 10-year Treasuries&#8217; yields remained at 3.94% after buyers found the last week&#8217;s spike to 4.09% attractive enough to invest in. Oil prices dipped, potentially due to investor disappointment that China did not establish more ambitious growth targets.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Upcoming Events:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Monday, March 06, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:30 AM GMT &#8211; (CHF) CPI m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:00 PM GMT &#8211; (CAD) Ivey PMI<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Tuesday, March 07, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:30 AM GMT &#8211; (AUD) Cash Rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:30 AM GMT &#8211; (AUD) RBA Rate Statement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:00 PM GMT &#8211; (USD) Fed Chair Powell Testifies<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">06:30 PM GMT &#8211; (CHF) SNB Chairman Jordan Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">09:55 PM GMT &#8211; (AUD) RBA Gov Lowe Speaks<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Wednesday, March 08, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">10:00 AM GMT &#8211; (EUR) ECB President Lagarde Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:15 PM GMT &#8211; (USD) ADP Non-Farm Employment Change<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:00 PM GMT &#8211; (CAD) BOC Rate Statement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:00 PM GMT &#8211; (CAD) Overnight Rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:00 PM GMT &#8211; (USD) Fed Chair Powell Testifies<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">03:00 PM GMT &#8211; (USD) JOLTS Job Openings<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">06:01 PM GMT &#8211; (USD) 10-y Bond Auction<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Thursday, March 09, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (USD) Unemployment Claims<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400;\">Friday, March 10, 2023\u00c2&nbsp;\u00c2&nbsp;\u00c2&nbsp;<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tentative &#8211; (JPY) Monetary Policy Statement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Tentative &#8211; (JPY) BOJ Press Conference<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:00 AM GMT &#8211; (GBP) GDP m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (CAD) Employment Change<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (CAD) Unemployment Rate<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (USD) Average Hourly Earnings m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (USD) Non-Farm Employment Change<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:30 PM GMT &#8211; (USD) Unemployment Rate<\/span><\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 1.11%, Shanghai Composite [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":62731,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[196,215],"tags":[],"class_list":["post-57123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis"],"_links":{"self":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57123","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/comments?post=57123"}],"version-history":[{"count":2,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57123\/revisions"}],"predecessor-version":[{"id":62754,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57123\/revisions\/62754"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media\/62731"}],"wp:attachment":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/media?parent=57123"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=57123"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=57123"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}