Every Major Market Advances as South Korea and Japan Lead

On Friday, September 11, all 8 of the 8 international markets tracked on the board moved higher. The world as a whole moved +0.9%, moving in step with US holdings as the S&P 500 fund posted +0.9%. Leading the board was South Korea +3.2%, followed by Japan +2.2%, while China +0.3% finished with the smallest advance.

These figures reflect US-listed exchange-traded funds at the New York close. A fund tracking Japan or South Korea shows how that country looked to an investor in New York when the US market closed, hours after local trading in Tokyo and Seoul had already ended for the week.

During local Asian trading hours, regional indexes fell as oil prices climbed and raised concerns about inflation. That pressure reversed once New York trading began: crude prices pulled back, consumer inflation data arrived near expectations, and a broad rally in semiconductor and technology shares lifted US-listed international funds. South Korea saw the sharpest rebound, with South Korea +3.2%. The advance was notable for Japan, several times the size of its usual day, marking Japan, its highest close in a year. In contrast, China +0.3% lagged the board with the day's smallest gain.

Other regions participated in the advance with more moderate moves. Emerging Markets +1.3% and India +1.0% finished higher, while European funds tracked the US session with Eurozone +0.9%, United Kingdom +0.9%, and Germany +0.6%.

Looking ahead, several scheduled economic events may shape sentiment across these markets. China is scheduled to release monthly industrial production and retail sales data on September 15. In the United States, policymakers will hold their two-day Federal Open Market Committee meeting ending September 16, followed by the Bank of Japan policy rate decision on September 17 and 18.