November 6, 2017 / 9:38 PM / 4 months ago

UPDATE 1-Asia Morning Call-Global Markets

    Nov 7 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,953.78       -6.076      NZX 50**            8,053.63     -22.73
 DJIA**          23,548.83      9.71        NIKKEI**            22,548.35    9.23
 Nasdaq**        6,786.436      22.001      FTSE**              7,562.28     1.93
 S&P 500**       2,591.13       3.29        Hang Seng**         28,596.8     -6.81
 SPI 200 Fut     5,961          28.0        STI**               3,381.85     -0.46
 SSEC**          3,389.1171     17.37       KOSPI**             2,549.41     -8.56
 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.029          0           KR 10 YR Bond       2.549        0.024
 AU 10 YR Bond   2.602          0.023       US 10 YR Bond       2.3181       -0.025
 NZ 10 YR Bond   2.825          0.045       US 30 YR Bond       2.7949       -0.027
 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3619         -0.0031     KRW US$             1,111.43     -3.86
 AUD US$         0.7687         0.0036      NZD US$             0.6932       0.0028
 EUR US$         1.1609         0.0002      Yen US$             113.76       -0.30
 THB US$         33.09          -0.07       PHP US$             51.119       -0.12
 IDR US$         13,523         28          INR US$             64.62        0.07
 MYR US$         4.23           -0.004      TWD US$             30.204       0.032
 CNY US$         6.6339         -0.0036     HKD US$             7.8016       -0.0002
 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,280.91       11.45       Silver (Lon)        17.245       0.4420
 U.S. Gold Fut   1,282.2        13.0        Brent Crude         64.27        2.20
 Iron Ore        CNY471.0       16.5        TRJCRB Index        192.568      3.1878
 TOCOM Rubber    JPY206.3       1.3         LME Copper          6,972.0      77.0
    ** indicates closing price 
    All prices as of 2101 GMT
    GLOBAL - Oil prices surged to their highest since July 2015 on Monday as Saudi
Arabia's crown prince cemented his power with a crackdown on corruption, while shares
worldwide were little changed and key currencies stayed in tight ranges.
    The MSCI world equity index, which tracks shares in 47 countries
rose 0.2 percent.
    For a full report, click on
    - - - -
    NEW YORK - U.S. stocks rose to record highs on Monday after Broadcom made a monster
bid for Qualcomm and investors bet that a Republican plan to cut corporate taxes would
bolster earnings.
    At 2:25 pm ET, the Dow Jones Industrial Average was up 0.1 percent at
23,563.4 points, while the S&P 500 had gained 0.15 percent to 2,591.83.
The Nasdaq Composite added 0.3 percent to 6,784.76.
    For a full report, click on
    - - - -
    LONDON - European shares ended the day in positive territory on Monday after a
session in which promising euro zone economic data and rising oil prices failed to
offset some earnings and corporate news disappointment.
    The pan-European STOXX 600 rose a little more than 0.1 percent to 396.59
points, within range of two-year highs.
    For a full report, click on

    - - - -
    TOKYO - Japan's Nikkei share average ended flat on Monday as weakness in the
banking sector offset gains in index-heavy Fast Retailing, while Subaru tumbled after
the company cut its annual profit forecasts.
    The Nikkei ended almost unchanged at 22,548.35, after rising as high as
22,644.68, its highest intraday level since June 1996.
    For a full report, click on
    - - - -
    SHANGHAI - China stocks ended higher on Monday as robust gains in consumer and
healthcare firms helped the market recoup earlier losses after curbs out of Beijing
weighed on the banking and property sectors.
    The blue-chip CSI300 index rose 0.7 percent, to 4,020.89 points, while
the Shanghai Composite Index closed up 0.5 percent at 3,388.17 points.
    For a full report, click on
    - - - -
    AUSTRALIA - Australian shares are expected to open higher on Tuesday, taking cues
from Wall Street which hit record high close and a jump in oil prices as Saudi Arabia's
crown prince cemented his power over the weekend with an anti-corruption crackdown.
    The local share price index futures rose 0.5 percent, or 28 points, to
5,961, a 7.8 discount to the underlying S&P/ASX 200 index close. The benchmark
fell 0.1 percent on Monday.
    For a full report, click on
    - - - -
    SEOUL - South Korea's KOSPI stock index weakened on Monday. The Korean won
rose and bond yields rose.
    At 06:30 GMT, the KOSPI was down 8.56 points or 0.33 percent at 2,549.41.
    For a full report, click on
    - - - -

    NEW YORK - The dollar stumbled against a basket of currencies on Monday, giving up
some recent gains, as uncertainties related to proposed U.S. tax revisions and the
future composition of the Federal Open Market Committee discouraged traders from
bidding the greenback higher.
    The dollar index, which tracks the greenback against six major currencies,
was down 0.19 percent at 94.764. The index has risen nearly 3 percent since
    For a full report, click on

    - - - -
    CHINA - China's yuan inched up against the U.S. dollar by midday on Monday,
underpinned by corporate dollar sales, while its value on a trade-weighted basis has
risen to its best level since July 2016.
    The yuan strengthened around 0.21 percent against the greenback last week, but on a
trade-weighted basis it edged up about 0.34 percent against a basket of
currencies of trading partners in the same period, according to official data from the
China Foreign Exchange Trade System (CFETS).
    For a full report, click on
    - - - -
    AUSTRALIA - The Australian dollar huddled near four-month lows on Monday
as investors wagered the country's central bank would reiterate its neutral stance at a
policy meeting this week following a run of soft domestic data.
    The Aussie dollar was stuck at $0.7642, just a whisker from its recent
rough at $0.7625.
    For a full report, click on
    - - - -
    SEOUL - South Korea's KOSPI stock index weakened on Monday. The Korean won
rose and bond yields rose.
    The won was quoted at 1,114.18 per U.S. dollar, up 0.1 percent from the
previous day, while in one-year non-deliverable forwards it was being
transacted at 1,111.75 per dollar.
    For a full report, click on
    - - - -
    NEW YORK - The gap between U.S. short-dated and long-dated Treasury yields on
Monday contracted to its tightest levels in a decade as sluggish domestic inflation
underpinned demand for longer-maturity government bonds.
    The yield spread between two-year and 10-year Treasuries broke below 70 basis
points, a level last seen in November 2007, Reuters data showed.
    The benchmark 10-year yield was down 2.5 basis points at 2.318 percent
after hitting its lowest level in two weeks, while the two-year yield
slipped nearly 1 basis point at 1.617 percent.
    For a full report, click on
    - - - -
    LONDON - German government borrowing costs held near a two-month low on Monday
after data showed the European Central Bank will reinvest nearly 130 billion euros into
the bond market in the coming year, underpinning euro zone debt yields.
    Yields on lower-rated Spanish and Italian bonds slipped, but by less than a basis
point in either case.
    For a full report, click on
    - - - -
    TOKYO - Japanese government bonds rose on Monday, with the benchmark yield dropping
to a more than one-month low as JGB investors covered short positions as markets opened
after a long weekend due to a national holiday.
    The benchmark 10-year cash JGB yield shed 2.5 basis points to 0.025
percent, its lowest since Sept. 26.
    For a full report, click on

    Gold rose more than 1 percent on Monday, extending gains as geopolitical risks
drove investors to safe-haven assets after the metal's third-straight weekly decline.
    Spot gold was up 1 percent at $1,281.46 an ounce by 1:58 p.m. EST (1858
GMT), while U.S. gold futures for December delivery settled up $12.40, or 1
percent, at $1,281.60 per ounce.
    For a full report, click on
    - - - -
    Chinese iron ore futures surged more than 6 percent to their strongest level in two
weeks on Monday, tracking firmer steel prices after China's top steel producing
province surpassed its capacity reduction targets for the year.
    Iron ore on the Dalian Commodity Exchange climbed 6.1 percent to end at
468 yuan per tonne, just off the day's peak of 469 yuan, the highest since Oct. 23.
Coking coal finished 2.7 percent higher at 1,166.50 yuan per tonne, after
hitting a nearly three-week top of 1,174.50 yuan.
    For a full report, click on
    - - - -
    Nickel and copper rose on Monday, boosted by expectations of healthy demand from
the electric vehicle sector, a pollution crackdown in China and signs of solid global
economic growth.
    London Metal Exchange nickel ended up 1.5 percent at $12,920 a tonne,
having gained nearly 10 percent last week to hit a high above $13,000, its loftiest
level since June 2015.
    Copper closed up 1.1 percent at $6,970, paring losses from the previous
session. Copper prices have climbed 7 percent this quarter and are eyeing a sixth
straight quarter of growth.
    For a full report, click on
    - - - -
    Oil prices rose 3 percent on Monday, hitting the highest since early July 2015, as
Saudi Arabia's crown prince cemented his power over the weekend with an anti-corruption
crackdown, while the U.S. rig count fell and markets continued to tighten.
    Brent crude futures were trading $1.86 or 3 percent higher at $62.46 a
barrel by 12:00 p.m. Eastern time (1700 GMT).
    For a full report, click on
    - - - -
    Malaysian palm oil futures slid on Monday evening, charting a third consecutive day
of losses as sentiment turned bearish over expectations of rising production and
end-stock levels.
    The benchmark palm oil contract for January delivery on the Bursa
Malaysia Derivatives Exchange closed 0.8 percent down at 2,783 ringgit ($657.92) a
tonne, having touched a low of 2,780 ringgit, its weakest since Oct. 25.
    For a full report, click on
    - - - -
    Benchmark Tokyo rubber futures hit a near four-week high on Monday, helped by a
jump in Shanghai futures to highest in five weeks and the yen's decline to a near
eight-month low against the dollar, brokers said.
    The Tokyo Commodity Exchange rubber contract for April delivery,
finished 5.2 yen higher at 205 yen ($1.79) per kg after hitting 205.2 yen, its highest
since Oct. 10.
    For a full report, click on
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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