{"id":57667,"date":"2023-04-12T17:41:11","date_gmt":"2023-04-12T07:41:11","guid":{"rendered":"https:\/\/icmarkets.eu\/blog\/?p=57667"},"modified":"2025-11-11T19:16:47","modified_gmt":"2025-11-11T08:16:47","slug":"wednesday-12th-april-2023-mixed-start-to-trading-in-asia-as-oil-prices-rise-and-tech-shares-dip","status":"publish","type":"post","link":"https:\/\/icmarkets.eu\/blog\/fundamental-analysis\/wednesday-12th-april-2023-mixed-start-to-trading-in-asia-as-oil-prices-rise-and-tech-shares-dip\/","title":{"rendered":"Wednesday 12th April 2023: Mixed Start to Trading in Asia as Oil Prices Rise and Tech Shares Dip"},"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 0.57%, Shanghai Composite up 0.41%, Hang Seng down 1.06%, ASX up 0.47%<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Commodities : Gold at $2028.85 (+0.49%), Silver at $25.43 (+0.96%), Brent Oil at $85.89 (+0.33%), WTI Oil at $81.77 (+0.29%)<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Rates : US 10-year yield at 3.430, UK 10-year yield at 3.546, Germany 10-year yield at 2.303<\/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;\">(JPY) PPI y\/y 7.20% vs 7.10% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(JPY) Core Machinery Orders m\/m -4.50% vs -6.40% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(JPY) Bank Lending y\/y 3.00% vs 3.50% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(USD) NFIB Small Business Index 90.1 vs 89.6 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(EUR) Retail Sales m\/m -0.80% vs -0.80% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CNY) M2 Money Supply y\/y 12.70% vs 12.70% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CNY) New Loans 3890B vs 3300B expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(EUR) Sentix Investor Confidence -8.7 vs -11.7 expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(JPY) Prelim Machine Tool Orders y\/y -15.20% vs -10.70% previous<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CNY) PPI y\/y -2.50% vs -2.50% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(CNY) CPI y\/y 0.70% vs 1.00% expected<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(AUD) NAB Business Confidence -1 vs -4 previous<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">(AUD) Westpac Consumer Sentiment 9.40% vs 0.00% previous<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n<h3><span style=\"font-weight: 400;\">Markets Update:<\/span><\/h3>\n<p><span style=\"font-weight: 400;\">Asian markets were mixed in early trading on April 12, 2023, as investors weighed the impact of rising oil prices against a dip in tech shares. The Nikkei 225 index in Japan fell 0.2%, while the Hang Seng index in Hong Kong rose 0.3%. The Shanghai Composite index in China was largely unchanged, while South Korea&#8217;s Kospi index was up 0.1%.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Crude oil prices continued to surge, with Brent crude up 1.3% to $94.12 per barrel, while West Texas Intermediate (WTI) crude was up 1.5% to $90.18 per barrel. The rise in oil prices was driven by concerns over supply disruptions in key producing countries, as well as increased demand as the global economy continues to recover.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Gold prices were largely flat, with spot gold up just 0.1% to $1,776.25 per ounce, as investors took a wait-and-see approach amid mixed market sentiment.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">The US Dollar Index, which measures the strength of the dollar against a basket of other currencies, was down 0.1% at 96.62, reflecting a slightly weaker dollar against other major currencies.<\/span><\/p>\n<p><span style=\"font-weight: 400;\">Overall, market activity was subdued as investors awaited further economic data and corporate earnings reports later in the week.<\/span><\/p>\n<h3><span style=\"font-weight: 400;\">Upcoming Events:\u00c2&nbsp;<\/span><\/h3>\n<ul>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 pm GMT &#8211; (USD) CPI m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 pm GMT &#8211; (USD) CPI y\/y<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">12:30 pm GMT &#8211; (USD) Core CPI m\/m<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">01:00 pm GMT &#8211; (GBP) BOE Gov Bailey Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">02:00 pm GMT &#8211; (CAD) BOC Monetary Policy Report<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">02:00 pm GMT &#8211; (CAD) BOC Rate Statement<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">02:00 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; (CAD) BOC Press Conference<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">Day 1 &#8211; (All) G20 Meetings<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">05:01 pm GMT &#8211; (USD) 10-y Bond Auction<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">06:00 pm GMT &#8211; (USD) FOMC Meeting Minutes<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:15 pm GMT &#8211; (GBP) BOE Gov Bailey Speaks<\/span><\/li>\n<li style=\"font-weight: 400;\" aria-level=\"1\"><span style=\"font-weight: 400;\">07:15 pm GMT &#8211; (EUR) Monetary Policy Statement<\/span><\/li>\n<\/ul>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Global Markets: Asian Stock Markets : Nikkei up 0.57%, 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":[196,215,339],"tags":[],"class_list":["post-57667","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fundamental-analysis","category-market-analysis","category-recent-posts"],"_links":{"self":[{"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57667","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=57667"}],"version-history":[{"count":2,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57667\/revisions"}],"predecessor-version":[{"id":62740,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/posts\/57667\/revisions\/62740"}],"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=57667"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/categories?post=57667"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/icmarkets.eu\/blog\/wp-json\/wp\/v2\/tags?post=57667"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}