August 10, 2017 / 9:41 PM / a month ago

UPDATE 1-Asia Morning Call-Global Markets

    Aug 11 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,760.933      -4.760      NZX 50**            7,789.71     -9.930
 DJIA**          21,844.01      -204.69     NIKKEI**            19,729.74    -8.97
 Nasdaq**        6,216.872      -135.460    FTSE**              7,389.94     -108.12
 S&P 500**       2,438.21       -35.81      Hang Seng**         27,444       -313.09
 SPI 200 Fut     5,636          -63.00      STI**               3,323.24     5.16
 SSEC**          3,261.8019     -13.77      KOSPI**             2,359.47     -8.92
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.058          -0.001      KR 10 YR Bond       2.328        -0.011
 AU 10 YR Bond   2.637          -0.025      US 10 YR Bond       2.1993       -0.043
 NZ 10 YR Bond   2.83           -0.02       US 30 YR Bond       2.7759       -0.042
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3630         0.0015      KRW US$             1,143.23     4.83
 AUD US$         0.7886         -0.0003     NZD US$             0.7273       -0.0064
 EUR US$         1.1754         -0.0003     Yen US$             109.23       -0.83
 THB US$         33.23          -0.02       PHP US$             50.949       0.324
 IDR US$         13,333         1           INR US$             64.09        0.235
 MYR US$         4.29           0.003       TWD US$             30.309       0.091
 CNY US$         6.6485         -0.026      HKD US$             7.8173       0.0021
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,286.36       9.21        Silver (Lon)        17.121       0.215
 U.S. Gold Fut   1,292.2        12.9        Brent Crude         51.85        -0.85
 Iron Ore        CNY566.5       4.5         TRJCRB Index        178.9143     -2.642
 TOCOM Rubber    JPY213.4       -0.7        LME Copper          6,402        -53
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--  
    ** indicates closing price 
    All prices as of 2046 GMT
    
    EQUITIES

    GLOBAL - Stocks around the world fell sharply on Thursday and investors moved into
the yen, gold and other safe-haven assets amid more aggressive talk between the United
States and North Korea.
    MSCI's gauge of stocks across the globe shed 0.77 percent, on track
for its third straight day of declines as it pulled further back from all-time highs.
    
    For a full report, click on
    
    - - - -
    
    NEW YORK - The S&P 500 index ended Thursday with its biggest one-day drop since May
17 as investors fled riskier assets in response to an exchange of threats between the
United States and North Korea.
    The Dow Jones Industrial Average fell 204.69 points, or 0.93 percent, to
21,844.01, the S&P 500 lost 35.8 points, or 1.45 percent, to 2,438.22 and the
Nasdaq Composite dropped 135.46 points, or 2.13 percent, to 6,216.87.

    For a full report, click on
    
    - - - -
    
    LONDON - European shares dropped to their lowest level since late March on Thursday
as cyclicals fell and some big stocks went ex-dividend, overshadowing a number of
upbeat earnings reports.
    The pan-European STOXX 600 index ended down 1 percent at 376.05, after
touching 375.42, its lowest level since March 28 as basic resources and banks
 fell. Euro zone blue chips slipped 1.1 percent.
    
    For a full report, click on

    - - - -
    
    TOKYO - Japanese stocks finished slightly lower after a choppy session on Thursday,
as investors kept a wary watch on tension over North Korea ahead of Japan's long
weekend.
    The Nikkei finished down 8.97 points, or 0.1 percent, at 19,729.74, erasing
early morning gains.
    
    For a full report, click on
    
    - - - -
    
    SHANGHAI -  China stocks ended lower as investors took a cue from weak regional and
global markets, selling off shares in materials firms that had benefited from a recent
rally.
    The blue-chip CSI300 index fell 0.4 percent, to 3,715.92 points. The
Shanghai Composite Index also also lost 0.4 percent, clsoing at 3,261.75
points.
    
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are poised to open lower on Friday, on track for a
second straight session of declines, weighed down by oil stocks as oil prices fell more
than 1.5 percent the previous session. 
    The local share price index futures fell 1.2 percent, or 68 points to
5,631, a 129.9-point discount to the underlying S&P/ASX 200 index close. 
    
    For a full report, click on
    
    - - - -
    
    SEOUL -  South Korean shares slumped to a seven-week low on Thursday on
foreign-selling amid anxiety over simmering tensions between the United States and
North Korea, knocking the won currency to the weakest in a month.
    Institutional buying managed to pull back the Korea Composite Stock Price Index
(KOSPI) from intraday lows, but the benchmark still closed down 0.4 percent at
2,359.47 points, its weakest since June 21. The index touched a low of 2,339.06 points
during the session.
    
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The U.S. dollar slipped to an eight-week low against the Japanese yen on
Thursday as continuing tensions between the United States and North Korea led investors
to look for assets viewed as less risky.
    The dollar was down 0.53 percent against the yen at 109.48 yen, after briefly
dropping as low as 109.53. The Japanese currency rallied broadly against most major
currencies, including the euro, the kiwi and sterling.
    
    For a full report, click on

    - - - -
    
    SHANGHAI - China's yuan firmed against the U.S. dollar on Thursday after the
central bank lifted its guidance to the strongest level in 10-1/2 months, while
corporate dollar sales also lent support.
    Prior to market opening, the People's Bank of China set the yuan midpoint
 at 6.6770 per dollar. It was the first setting stronger than the
psychologically important 6.7 per dollar level since Sept. 30.
    
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The New Zealand dollar came off a three-week trough on Thursday as the
country's central bank did not sound as perturbed about a soaring currency as some had
expected in its monetary policy statement.
    The Reserve Bank of New Zealand (RBNZ) left interest rates at a record low 1.75
percent and kept projections for rates largely unchanged, wrong footing doves who had
thought it might lower the future path of hikes.
    
    For a full report, click on
    
    - - - -
    
    SEOUL - The South Korean won weakened to a four-week low on Thursday,
extending a selloff from the previous day. 
    The won was quoted at 1,142.0 to the dollar at the conclusion of onshore
trade, the weakest close since July 12, and down 0.6 percent compared to Wednesday's
finish.
    
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK -  U.S. Treasury long-dated yields dropped to six-week lows on Thursday,
pressured by continued tensions between the United States and North Korea as well as
weak economic data that reduced expectations of an interest rate hike in December.
    Over the last two weeks, U.S. 10-year note and 30-year bond yields have fallen 7 to
10 basis points as the North Korean issue has escalated.
    
    For a full report, click on
    
    - - - -
    
    LONDON -  Europe's top-rated German bond yield fell to a six-week low on Thursday
as North Korea outlined detailed plans for a missile strike near the U.S. territory of
Guam.
    While an investor panic that followed a war of words between Washington and
Pyongyang on Wednesday appeared to abate slightly, demand remained firm for assets that
tend to perform well in times of market stress, including German Bunds. 
   
    For a full report, click on
    
    - - - -
    
    TOKYO - Benchmark Japanese government bonds were flat on Thursday, as investors
adjusted positions ahead of a long holiday weekend.
    Fears surrounding escalating tensions in North Korea remained, with investors wary
of developments in the region. Japanese markets are closed on Friday for a national
holiday.
    
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    The price of gold climbed to the highest levels in two months on Thursday as the
United States and North Korea exchanged more threats, prompting investors to buy
bullion as a safe haven asset. 
    "For now, the uptrend is very much intact in gold, reacting to external
geopolitical events," said Jonathan Butler, commodities analyst at Mitsubishi in
London.
    
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese steel futures rose to a fresh 4-1/2-year high on Thursday as investors
remained bullish ahead of production cuts in the world's top steel producer.
    Demand remained strong, encouraging steel mills to keep offer prices high. Iron ore
futures also climbed.
    
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Lead prices steadied on Thursday near the six-month highs hit earlier this week,
supported by expectations of tighter supplies due to mine closures that have created
shortages of concentrate for smelters.
    Benchmark lead on the London Metal Exchange slipped 0.7 percent to $2,366 a
tonne at the close on profit-taking. On Wednesday the price touched $2,422, its highest
since Feb. 14.
    
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices fell more than 1.5 percent on Thursday, as a bruising day on Wall Street
bolstered fears of slowing demand amid lingering concerns over a global oversupply of
crude.
    U.S. West Texas Intermediate crude settled down 97 cents or 1.96 percent to
$48.59 a barrel. Brent crude futures were down 80 cents or 1.52 percent to
$51.90 a barrel.
    
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures rose to their highest level in over a week on Thursday
evening on expectations of soyoil gains, despite the earlier release of bearish
industry data.
    The benchmark palm oil contract for October delivery on the Bursa
Malaysia Derivatives Exchange was up 1.3 percent to 2,663 ringgit ($620.75) on Thursday
evening. It earlier climbed to an intraday high of 2,672 ringgit, its highest level
since August 1.
    
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures edged lower, slipping from a two-week high hit
earlier in the session, as investors locked in profits ahead of a long weekend in
Japan.
    Financial markets in Japan will be closed on Friday for Mountain Day holiday.
    
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)

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