March 27, 2018 / 9:02 PM / 4 months ago

UPDATE 1-Asia Morning Call-Global Markets

    March 28 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,832.3        41.8        NZX 50**            8,508.12     75.71
 DJIA**          23,857.71      -344.89     NIKKEI**            21,317.32    551.22
 Nasdaq**        7,008.806      -211.737    FTSE**              7,000.14     111.19
 S&P 500**       2,658.55       -45.93      Hang Seng**         30,790.83    242.06
 SPI 200 Fut     5,758          -60.00      STI**               3,439.35     26.89
 SSEC**          3,166.2921     32.57       KOSPI**             2,452.06     14.98
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.034          0.001       KR 10 YR Bond       2.677        -0.01
 AU 10 YR Bond   2.643          -0.026      US 10 YR Bond       2.7771       -0.064
 NZ 10 YR Bond   2.765          -0.055      US 30 YR Bond       3.031        -0.04
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3102         0.0016      KRW US$             1,074.11     -0.58
 AUD US$         0.7679         -0.0071     NZD US$             0.7263       -0.0034
 EUR US$         1.24           -0.0042     Yen US$             105.32       -0.08
 THB US$         31.21          0.09        PHP US$             52.36        0.229
 IDR US$         13,740         5           INR US$             64.94        0.12
 MYR US$         3.8755         -0.0185     TWD US$             29.135       -0.018
 CNY US$         6.2775         0.0096      HKD US$             7.8466       0.0009
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,344.62       -8.44       Silver (Lon)        16.523       -0.133
 U.S. Gold Fut   1,344.3        -10.7       Brent Crude         69.56        -0.56
 Iron Ore        CNY435         -8          TRJCRB Index        -            -
 TOCOM Rubber    JPY179.5       0.4         LME Copper          6,657.5      55.5
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--  
    ** indicates closing price 
    All prices as of 20:57 GMT
    
    EQUITIES

    GLOBAL - 
    U.S. stocks sank in late trading on Tuesday, with faltering technology shares
reversing a global stock rally that had swept through Asia and Europe.
    Trading sessions in Asia and Europe had ended on a high note as trade fears ebbed,
while U.S. equities sold off sharply in the afternoon just a day after turning in their
best performance since August 2015. Tech shares tumbled partly on concerns about
regulation of social media.
    MSCI's gauge of stocks across the globe shed 0.55 percent after
solid gains for much of the day.
    For a full report, click on
    
    - - - -
    
    NEW YORK - 
    Wall Street closed sharply lower Tuesday, with each of the major U.S. indexes
suffering their fourth decline in five sessions, fueled by a selloff in the tech
sector.
    Tech stocks, among the best performing sectors of the bull market, have been under
pressure recently as concerns about government regulation stemming from their strong
growth and privacy questions surrounding Facebook.
    For a full report, click on
    
    - - - -
    
    LONDON - 
    European shares surged on Tuesday on incipient signs of a detente in trade rhetoric
between Washington and Beijing, while French supermarket Casino was boosted by a
grocery delivery partnership with Amazon.
    The STOXX 600 index gained 1.2 percent with all sectors rising, scoring
its best day in six weeks, while Germany's DAX led with a 1.6 percent rise.
    For a full report, click on

    - - - -
    
    TOKYO - 
    Japan's stocks rose sharply on Tuesday as immediate concerns about trade frictions
between the United States and China abated, helping trade-exposed sectors such as chip
manufacturers, and following a firm lead from U.S. futures.
    The Nikkei ended 2.7 percent higher at 21,317.32.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - 
    China stocks snapped a four-session losing streak to end higher on Tuesday, powered
by robust gains in tech firms, and as trade war fears eased on reports of
behind-the-scenes talks between the United States and China.
    At the close, the Shanghai Composite index was up 1 percent at 3,166.65,
while the blue-chip CSI300 index was up 0.86 percent at 3,913.27.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - 
    Australian shares are set to open lower on Wednesday, following a weak lead from
Wall Street, though losses might be capped by gains in materials stocks.
    The local share price index futures fell about 1 percent or 60 points to
5,758, a 74.3-point discount to the underlying S&P/ASX 200 index close. The
benchmark added 0.7 percent on Tuesday.
    For a full report, click on
    
    - - - -
    
    SEOUL - 
    South Korea's KOSPI stock index rose on Tuesday and the Korean won extended
gains on higher risk appetite, after trade tensions between the United States and China
showed signs of easing. 
    At 06:30 GMT, the KOSPI ended higher 14.98 points or 0.61 percent at 2,452.06.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - 
    The dollar rose against a basket of major currencies on Tuesday, rebounding from a
five-week low hit earlier in the session, as trade tensions receded and the greenback
found support from month-end flows.
    The dollar index, which measures the greenback against a basket of six other
major currencies, was up 0.41 percent at 89.395, after slipping to a five-week low of
88.942.
    For a full report, click on

    - - - -
    
    SHANGHAI - 
    China's yuan held gains against the U.S. dollar at the domestic close on Tuesday,
following a roller-coaster run as persistent weakness in the greenback prompted some
bargain hunting to cap gains in the Chinese currency.
    The spot market opened at 6.2579 per dollar and surged to a high of
6.2418 at one point, the strongest level since Aug. 10, 2015.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA -  
    The Australian and New Zealand dollars gained against the yen on Tuesday as fears
of a U.S.-China trade war abated as reports of quiet negotiations between the two
countries revived risk appetite.
    The Australian dollar rose for a second straight day to 81.70 yen after
hitting a near 16-month trough last week.
    For a full report, click on
    
    - - - -
    
    SEOUL - 
    South Korea's KOSPI stock index .KS11 rose on Tuesday and the Korean won extended
gains on higher risk appetite, after trade tensions between the United States and China
showed signs of easing.
    The won was quoted at 1,070.3 per dollar on the onshore settlement platform
, 1.01 percent firmer than its previous close at 1,081.1.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - 
    U.S. Treasury yields fell on Tuesday with 10-year yield hitting six-week lows as
fund managers purchased bonds to rebalance their portfolios for quarter-end, offsetting
sales to make room for the record high $294 billion in government debt this week.
    A sharp negative turn on Wall Street, which wiped out its earlier gains, kindled
safe-haven demand for bonds.
    The U.S. Treasury Department sold $65 billion in one-month bills;
$24 billion in one-year T-bills and $35 billion in five-year notes
 to average demand. The auctions on Monday and Tuesday were equivalent to
85 percent of the scheduled Treasuries supply this week.
    For a full report, click on
    
    - - - -
    
    LONDON - 
    Euro zone government bond yields fell on Tuesday after Spanish inflation undershot
expectations and two European Central Bank policymakers flagged low underlying
inflation as a reason to remain patient on policy tightening.
    Governing Council member Erkki Liikanen said underlying euro zone inflation may
remain lower than expected even if growth is robust, so the ECB needs to remain patient
in removing stimulus.
    For a full report, click on
    
    - - - -
    
    TOKYO - 
    Japanese government bond prices dipped across the board on Tuesday, as the stock
market rallied due to an ebb in trade war fears and reduced investor demand for
safe-haven debt.
    The five-year yield rose 1 basis point to minus 0.115 percent, while
the 10-year yield was up 1 basis point at 0.010 percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold fell on Tuesday after hitting a near six-week high as the U.S. dollar rose and
risk appetite revived in global financial markets, but the precious metal remained
underpinned by an array of geopolitical tensions.
    The U.S. dollar rose versus a currency basket, as returning risk appetite dented
investor appetite for the U.S. currency. A stronger dollar makes dollar-priced gold
costlier for non-U.S. investors.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese steel futures rose on Tuesday from near nine-month lows as concerns about a
potential trade war between China and the United States eased.
    Shanghai rebar steel futures rose 2.1 percent to 3,433 yuan ($548.98) a
tonne, marking its best performance since February. The contract fell to 3,333 yuan a
tonne on Monday, the weakest since July 2017.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Copper prices rose on Tuesday after reports of behind-the-scenes talks between the
United States and China fuelled hopes that a trade war could be averted and sparked a
global stock market recovery, but a strengthening dollar limited gains. 
    Benchmark copper on the London Metal Exchange closed up 0.7 percent at
$6,649 a tonne, after touching a 3-1/2-month low on Monday.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices settled slightly lower on Tuesday, only to fall in post-settlement
electronic trading as stocks slumped and industry group data showed a surprising
increase in crude inventories.
    Brent crude futures touched $71 a barrel before retreating, and settled
down 1 cent at $70.11 a barrel in what traders characterized as profit-taking following
several days of gains. West Texas Intermediate (WTI) futures fell 30 cents to
settle at $65.25 a barrel.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures edged down at the end of the trading day on Tuesday as a
stronger ringgit and expectations of a rise in output in the coming months
weighed on the edible oil's prices.
    The benchmark palm oil contract for June delivery on the Bursa Malaysia
Derivatives Exchange fell 0.1 percent to 2,431 ringgit ($627.27) per tonne. It earlier
hit a one-week low of 2,410 ringgit, matching an intraday low hit on March 20.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    The new benchmark Tokyo Commodity Exchange (TOCOM) rubber contract for September
delivery, fell 0.2 yen from an opening price of 178.8 yen to 178.6
yen ($1.69) per kg by 0029 GMT, weighed down by weaker oil prices. But it was still
above a 17-month low hit the previous day.
    The TOCOM March contract expired at 167 yen per kg on Monday. 
    For a full report, click on
    
    - - - -


 (Bengaluru Bureau; +91 80 6749 1130)
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