November 7, 2017 / 10:09 PM / a month ago

UPDATE 1-Asia Morning Call-Global Markets

    Nov 8 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   6,014.341      60.52       NZX 50**            8,049.67     -3.96
 DJIA**          23,537.63      -10.88      NIKKEI**            22,937.6     389.25
 Nasdaq**        6,765.309      -21.164     FTSE**              7,513.11     -49.17
 S&P 500**       2,588.80       -2.37       Hang Seng**         28,994.34    397.54
 SPI 200 Fut     5,974.0        -28.0       STI**               3,413.1      31.25
 SSEC**          3,415.1419     26.97       KOSPI**             2,545.44     -3.97
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.032          0.002       KR 10 YR Bond       2.541        -0.008
 AU 10 YR Bond   2.594          0           US 10 YR Bond       2.3127       -0.007
 NZ 10 YR Bond   2.835          -0.005      US 30 YR Bond       2.7747       -0.021
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3643         0.0027      KRW US$             1,114.81     2.98
 AUD US$         0.7644         -0.0048     NZD US$             0.6904       -0.0040
 EUR US$         1.1589         -0.0023     Yen US$             113.92       0.24
 THB US$         33.14          0.0020      PHP US$             51.425       0.308
 IDR US$         13,512         -11         INR US$             65.05        0.43
 MYR US$         4.2285         -0.0015     TWD US$             30.17        -0.034
 CNY US$         6.6395         0.0056      HKD US$             7.8046       0.0030
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,276.0699     -5.4401     Silver (Lon)        16.94        -0.286
 U.S. Gold Fut   1,276.5        -5.1        Brent Crude         63.69        -0.58
 Iron Ore        CNY463.0       -5.5        TRJCRB Index        191.847      -0.721
 TOCOM Rubber    JPY204.2       -1.8        LME Copper          6,826.0      -144.0
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    ** indicates closing price 
    All prices as of 2047 GMT
    
    EQUITIES

    GLOBAL - A global rally in stocks paused on Tuesday, halting a nine-day advance
that had sent the most widely tracked index of world stock markets to record highs.
    All three of Wall Street's major indexes dipped in U.S. afternoon trading, sending
the MSCI 47-country 'All World' index down slightly after it had hit
record highs above 500 points after Japan's Nikkei notched its best level since
1992 and Germany's DAX scored a record high. The index is up nearly 20 percent
for the year to date.
    For a full report, click on
    
    - - - -
    
    NEW YORK - Wall Street dipped on Tuesday after a disappointing profit forecast from
Priceline and as investors fretted that a Republican plan to cut corporate taxes could
be watered down.
    At 2:56 pm ET (1956 GMT), the Dow Jones Industrial Average was down 0.1
percent at 23,525.73 points, while the S&P 500 had lost 0.15 percent to
2,587.35.
    For a full report, click on
    
    - - - -
    
    LONDON - European shares pulled back from two-year highs on Tuesday as heavyweight
defensive sectors dropped and some earnings reports disappointed, though oil stocks
were a bright spot.
    The pan-European STOXX 600 index reversed earlier gains to end the session
0.5 percent lower, after trading at its highest level since August 2015 over the past
few days.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei index jumped to a near 26-year-high on Tuesday, as foreign
investors piled in on expectations of strong earnings from Japan Inc., while Wall
Street's strength underpinned sentiment.
    The Nikkei share average opened lower but later soared and closed 1.7
percent higher at 22,937.60, the highest closing level since January 1992.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China's blue-chips index extended its rise on Tuesday to close at a
two-year high, aided by robust gains in banking and energy firms, and also drawing
strength from the investor confidence that pushed Wall Street to another record
overnight.
    The blue-chip CSI300 index rose 0.9 percent, to 4,054.25 points, the
highest level since August 2015, while the Shanghai Composite Index closed up
0.7 percent to 3,413.57 points.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are expected to retreat on Wednesday from their near
10 year-highs recorded in the previous session, tracking a sell-off in Wall Street,
with energy stocks hurt by a slip in oil prices.
    The local share price index futures fell 0.367 percent, or 22 points to
5,979, a 35.5-point discount to the underlying S&P/ASX 200 index close. The
benchmark rose 1 percent on Tuesday.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's KOSPI stock index weakened Tuesday. The Korean won
rose while bond yields fell.
    At 06:30 GMT, the KOSPI was down 3.97 points or 0.16 percent at 2,545.44.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The dollar rebounded against a basket of currencies on Tuesday, as
investors renewed bets that monetary policy will continue to diverge between the United
States and the euro zone.
    The dollar index, which tracks the greenback against six major currencies,
was up 0.35 percent at 95.091. The index is just shy of the three-month high of 95.150
hit late last month.
    For a full report, click on

    - - - -
    
    CHINA - China's yuan inched up against the U.S. dollar on Tuesday, in line with the
central bank's slightly stronger midpoint fix, following a fall in the greenback.
    The yuan opened in the spot market at 6.6260 per dollar and was changing
hands at 6.6236 at midday, 103 pips firmer than the previous late session close.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian dollar briefly ticked up on Tuesday after the country's
central bank sounded less dovish than bears had wagered at its policy meeting, while
the New Zealand dollar hovered near two-week highs.
    The Aussie initially shot up to $0.7698 as the Reserve Bank of Australia
(RBA) held interest rates at record lows as expected but stuck with a prediction that
economic growth would pick up to around 3 percent over the next few years, nudging
unemployment lower.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's KOSPI stock index weakened Tuesday. The Korean won
rose while bond yields fell.
    The won was quoted at 1,111.33 per U.S. dollar, up 0.04 percent from the
previous day, while in one-year non-deliverable forwards it was being
transacted at 1,108.15 per dollar.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasury yields were little changed on Tuesday in advance of a $24
billion auction of three-year government debt, the first part of this week's $64
billion quarterly refunding whose proceeds will be used to repay $42.7 billion to
bondholders.
    At 8:52 a.m. (1352 GMT), the benchmark 10-year Treasury yield was 2.320
percent, unchanged from late Monday when it hit a two-week low.
    For a full report, click on
    
    - - - -
    
    LONDON - Southern Europe led a fall in bond yields in the single currency bloc on
Tuesday after latest ECB data highlighted that central bank buying will provide
considerable support to regional bond markets over the coming year.
    Italy's 10-year bond yield tumbled 7 basis points to 1.70 percent,
its lowest level since mid-November 2016. That squeezed the gap over German Bund yields
to 138 bps, its narrowest since October 2016.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bond prices were mostly stronger on Tuesday following
robust results in a liquidity-enhancing auction and overnight gains by U.S. Treasuries,
although gains were limited by Tokyo shares rallying to a 26-year high.
    The two-year yield, five-year yield and 20-year yield
 declined by 0.5 basis point to minus 0.190 percent, minus 0.130 percent
and 0.560 percent, respectively.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices fell 0.5 percent on Tuesday, retreating a bit from the previous day's
rally as a stronger U.S. dollar reduced the appeal of safe-haven investments, and oil
prices also dipped.
    Spot gold was down 0.5 percent at $1,275.30 an ounce by 1:47 p.m. EST (1847
GMT), while U.S. gold futures for December delivery settled down $5.80, or 0.5
percent, at $1,275.80 per ounce.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Iron ore futures in China rallied to their highest in nearly six weeks on Tuesday,
extending recent gains along with steel prices, although steel production curbs over
winter suggest further price increases in the raw material may be limited.
    Iron ore on the Dalian Commodity Exchange jumped as far as 475 yuan per
tonne, its loftiest since Sept. 28. It closed 3.2 percent higher at 469 yuan. Coke
 climbed 3.7 percent to 1,831 yuan a tonne and coking coal gained 2.6
percent to 1,185 yuan.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Nickel fell sharply on Tuesday as a stronger dollar encouraged investors to take
profits after prices rose almost 10 percent to two-year highs last week on growing
expectations of demand from manufacturers of batteries used to power electric vehicles.
    Benchmark nickel on the London Metal Exchange closed 2.1 percent down at
$12,655 a tonne, having last week reached $13,030, its highest since June 2015.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil eased on Tuesday after rising to the highest since July 2015 the previous day,
while tension flared between Saudi Arabia and Iran and the Saudi crown prince tightened
his grip on power.
    Brent crude futures were down 51 cents, or 0.8 percent, at $63.76 a barrel
by 12:32 p.m. (1732 GMT), having climbed 3.5 percent on Monday.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures rose slightly in evening trade on Tuesday, snapping
three sessions of declines as they tracked overnight strength in Chicago Board of Trade
(CBOT) soyoil.
    The benchmark palm oil contract for January delivery on the Bursa
Malaysia Derivatives Exchange was up 0.1 percent at 2,785 ringgit ($658.63) a tonne at
the close.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures hit their highest in nearly a month on Tuesday,
helped by a firm Shanghai market.
    The Tokyo Commodity Exchange rubber contract for April delivery,
finished up 1 yen at 206 yen ($1.81) per kg after touching 207 yen earlier, the highest
since Oct. 10.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)

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