May 20, 2018 / 9:40 PM / 3 months ago

UPDATE 1-Asia Morning Call-Global Markets

    May 21 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   6,087.4        -6.90       NZX 50**            8,657.33     53.95
 DJIA**          24,715.09      1.11        NIKKEI**            22,838.37    91.99
 Nasdaq**        7,354.339      -28.134     FTSE**              7,778.79     -9.18
 S&P 500**       2,712.97       -7.16       Hang Seng**         31,047.91    105.76
 SPI 200 Fut     6,066          -30.00      STI**               3,529.27     -7.49
 SSEC**          3,193.0475     38.77       KOSPI**             2,460.65     12.20
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.07           0.011       KR 10 YR Bond       2.75         -0.022
 AU 10 YR Bond   2.901          -0.019      US 10 YR Bond       3.0596       0
 NZ 10 YR Bond   2.855          -0.035      US 30 YR Bond       3.2024       0
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3418         -0.0012     KRW US$             1,080.26     -0.31
 AUD US$         0.7522         0.001       NZD US$             0.6915       0.0005
 EUR US$         1.177          -0.0005     Yen US$             110.9        0.16
 THB US$         32.2           0.01        PHP US$             52.279       0.028
 IDR US$         14,150         103         INR US$             67.985       0.225
 MYR US$         3.97           0.003       TWD US$             29.912       0.006
 CNY US$         6.3767         0.0123      HKD US$             7.8496       0.0002
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,291.5        1.5         Silver (Lon)        16.42        -0.008
 U.S. Gold Fut   1,291.3        2           Brent Crude         78.51        -0.79
 Iron Ore        CNY462.5       -18         TRJCRB Index        -            -
 TOCOM Rubber    JPY194.2       0.3         LME Copper          6,824        -55
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--  
    ** indicates closing price 
    All prices as of 21:19 GMT
    
    EQUITIES

    GLOBAL - 
    Wall Street's benchmark S&P 500 stock index dipped on Friday on persistent trade
concerns, while U.S. 10-year Treasury yields declined from a near seven-year peak after
a burst higher this week.
    In Europe, political uncertainty in Italy weighed on stocks and bonds as well as on
the euro. The U.S. dollar rose for a fifth straight session against a basket of
currencies.
    For a full report, click on
    
    - - - -
    
    NEW YORK - 
    The S&P 500 ended lower on Friday after a choppy trading session as bank and
chipmaker stocks weighed on the index and investors grappled with U.S.-China trade
talks.
    All three major U.S. stock indexes posted a weekly loss as the markets reacted to
reports from the U.S.-China trade summit, rising U.S. government bond yields and
increasing oil prices.
    For a full report, click on
    
    - - - -
    
    LONDON - 
    European shares ended down on the day on Friday but posted their eighth straight
week of gains thanks to a rally in energy shares and despite concerns about Italian
anti-establishment parties promising to increase state spending in a planned new
government.
    The pan-European STOXX 600 index fell 0.3 percent but remained near its
highest level in more than three months and was up 0.5 percent on the week.
    For a full report, click on

    - - - -
    
    TOKYO - 
    Japan's Nikkei share average rose to a 3-1/2-month high on Friday and scored its
eighth straight weekly gain after a weaker yen lifted exporters, while financial stocks
extended their rally as U.S. bond yields remained high.
    The Nikkei gained 0.4 percent to 22,930.36, the highest closing level since
Feb 2. The benchmark index rose 0.8 percent on a weekly basis to mark the eighth
straight weekly gains, the longest winning streak since a nine-week stretch between
September and November.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - 
    China stocks closed higher on Friday amid hopes that Beijing and Washington will
reach a deal in the latest round of trade negotiations.
    The blue-chip CSI300 index ended 1 percent higher at 3,903.06, while the
Shanghai Composite Index closed 1.2 percent higher to 3,193.30 points. For the
week, SSEC rose nearly 1 percent, while CSI300 was up 0.8 percent.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - 
    Australian shares are expected to open lower on Monday tracking weakness on Wall
Street along with material, energy stocks seen weighing on the sentiments after metals
and oil prices fell.
    All three major U.S. stock indexes posted a weekly loss on Friday as the markets
reacted to reports from the U.S.-China trade summit, rising U.S. government bond yields
and increasing oil prices.
    The local share price index futures shed 0.49 percent or 30 points to
6,066 , a 21.4-point discount to the underlying S&P/ASX 200 index close. The
benchmark closed 0.1 percent lower on Friday.
    For a full report, click on
    
    - - - -
    
    SEOUL - 
    South Korea's KOSPI stock index and the Korean won gained on Friday amid
caution over developments in trade negotiations between Beijing and Washington.
    At 0632 GMT, the KOSPI was up 12.20 points or 0.50 percent at 2,460.65. For the
week, the index shed 0.7 percent.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - 
    The dollar rose to a five-month high against a basket of major currencies on
Friday, helped by weakness in the euro as investors fretted about political uncertainty
in Italy.
    The dollar index has climbed for five straight sessions, posting a 1.2 percent
weekly gain. It has risen 5 percent since mid-February, with investors betting U.S.
interest rates will need to rise further to curb inflation.
    For a full report, click on

    - - - -
    
    SHANGHAI - 
    China's yuan eased against the U.S. dollar on Friday, on track to post its worst
week in three months after the central bank set its yuan midpoint at a one-week low to
reflect the greenback's extended gains.
    The dollar firmed against its major trading partners on Friday morning, buoyed by a
rise in U.S. Treasury yields and a more upbeat outlook for economy in the United
States.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - 
    The Australian dollar paused near a 3-1/2-month high against its New Zealand
counterpart after six straight sessions of gains led by a recent rally in oil prices
and on a subtle divergence in monetary policy stance between the two countries.
    The commodity-driven Australian dollar held at $1.0903 on the kiwi, the
highest since early February, and was on track for a sixth consecutive winning week.
    For a full report, click on
    
    - - - -
    
    SEOUL - 
    South Korea's KOSPI stock index and the Korean won gained on Friday amid
caution over developments in trade negotiations between Beijing and Washington.
    The won was quoted at 1,077.6 per dollar on the onshore settlement platform
, 0.33 percent firmer than its previous close at 1,081.2. The currency fell
0.8 percent this week, marking biggest weekly losses in three weeks.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - 
    U.S. 10-year Treasury yields declined on Friday from a near seven-year high as
buyers emerged following a bond market sell-off earlier this week spurred by worries
about growing inflation and government borrowing.
    Some technical indicators suggested the Treasuries market is the most oversold
since December.
    For a full report, click on
    
    - - - -
    
    LONDON - 
     Italy's long-term borrowing costs jumped to more than seven-month highs on Friday
while stocks in Milan fell more than one percent after two anti-establishment parties
pledged to increase spending in a deal to form a new coalition government.
    After the League and the 5-Star Movement outlined their economic plans, the euro
also fell, ceding early-session gains against the dollar.
    For a full report, click on
    
    - - - -
    
    TOKYO - 
    The lead June 10-year Japanese government bond (JGB) futures contract slipped on
Friday, pressured by a rise in Tokyo shares to 3-1/2-month highs, as well as weakness
in U.S. Treasuries.
    The Bank of Japan's offer on Friday to buy medium- and long-term bonds helped limit
losses in JGB futures, market participants said.
    June 10-year JGB futures eased 0.02 point to 150.67.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices rebounded on Friday, as the U.S. dollar eased after Italian political
tension sparked a sell-off in the country's bond markets and investors sought a safe
haven in bullion.
    Spot gold gained 0.2 percent at $1,292.12 per ounce by 1:33 p.m. EDT (1733
GMT), after hitting its lowest since Dec. 27 in the previous session at $1,285.41.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese steel futures pulled back to a one-week low on Friday, with supply rising
and concerns a seasonal recovery in demand could end soon.
    A pickup in construction activity in China had fueled a sustained fall in traders'
steel inventories since March and pushed mills' crude steel output in April to the
highest daily average in four years.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Aluminium fell to a two-week low on Friday after news that sanctions-hit Russian
businessman Oleg Deripaska would not seek re-election to Rusal's board of directors,
easing concerns that supply from the company would be disrupted.
    Copper, meanwhile, headed for its first weekly loss in three as uncertainties over
the outlook for global growth and this week's burst of dollar strength weighed on
prices.
    In a statement, Rusal's parent company EN+ said Deripaska had resigned from its
board and undertaken not to stand again as a director of Rusal.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices fell on Friday, but Brent crude marked its sixth straight week of gains,
boosted by plummeting Venezuelan production, strong global demand and looming U.S.
sanctions on Iran.
    Brent crude futures fell 79 cents, or 1 percent, to settle at $78.51 a
barrel. The global benchmark on Thursday broke through $80 a barrel for the first time
since November 2014, and investors anticipate more gains due to supply concerns, at
least in the short term.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures rose as much as 1 percent on Friday to their highest in
more than five weeks, tracking gains in related edible oils and crude oil, while a
weaker ringgit also lent support.
    The benchmark palm oil contract for August delivery on the Bursa Malaysia
Derivatives Exchange, however, pared some gains to end the day up 0.7 percent at 2,450
ringgit ($617.13) a tonne.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures closed higher on Friday, tracking Shanghai gains,
amid hopes that trade tensions between Beijing and Washington will ease after the
second round of negotiations.
    The Tokyo Commodity Exchange rubber contract for October delivery,
 finished 4 yen ($0.0361) higher at 193.9 yen per kg.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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