September 6, 2017 / 9:47 PM / 16 days ago

UPDATE 1-Asia Morning Call-Global Markets

    Sept 7 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,689.730      -16.503     NZX 50**            7,790.21     12.810
 DJIA**          21,807.64      54.33       NIKKEI**            19,357.97    -27.84
 Nasdaq**        6,393.314      17.740      FTSE**              7,354.13     -18.79
 S&P 500**       2,465.54       7.69        Hang Seng**         27,613.76    -127.59
 SPI 200 Fut     5,687          13.00       STI**               3,232.47     -18.79
 SSEC**          3,385.8765     1.56        KOSPI**             2,319.82     -6.80
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.011          0           KR 10 YR Bond       2.28         -0.028
 AU 10 YR Bond   2.666          0.067       US 10 YR Bond       2.1064       0.036
 NZ 10 YR Bond   2.85           0.045       US 30 YR Bond       2.7239       0.035
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3501         -0.0029     KRW US$             1,131.79     -0.06
 AUD US$         0.8001         0.0001      NZD US$             0.7196       -0.0002
 EUR US$         1.192          0.0005      Yen US$             109.23       0.01
 THB US$         33.13          -0.01       PHP US$             51.093       0.089
 IDR US$         13,336         -1          INR US$             64.055       -0.045
 MYR US$         4.237          -0.0215     TWD US$             30.105       0.035
 CNY US$         6.527          -0.0124     HKD US$             7.8254       0
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,333.76       -4.6        Silver (Lon)        17.83        -0.06
 U.S. Gold Fut   1,339.1        -5.4        Brent Crude         54.05        0.67
 Iron Ore        CNY554         -13         TRJCRB Index        182.9997     0.6578
 TOCOM Rubber    JPY232.1       -1.4        LME Copper          6,923        23
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--  
    ** indicates closing price 
    All prices as of 21:34 GMT
    
    EQUITIES

    GLOBAL - U.S. shares rose on Wednesday and the dollar gained against the safe-haven
Japanese yen as upbeat news out of Washington helped mitigate investors' concerns about
North Korea's nuclear weapons tests and a major hurricane barreling towards Puerto Rico
and Florida.
    U.S. President Donald Trump and congressional leaders agreed to pass an extension
of the debt limit until Dec. 15. The news also lifted the yield on benchmark 10-year
U.S. Treasury notes after it had fallen to a near 10-month low at 2.054
percent.
    For a full report, click on
    
    - - - -
    
    NEW YORK - Wall Street climbed on Wednesday, boosted by energy shares and helped by
news of an agreement to extend the debt limit, as stocks bounced back from a
day-earlier selloff.
    U.S. stocks built on moderate gains after news that President Donald Trump, siding
with Democrats over his fellow Republicans, said he agreed to pass an extension of the
U.S. debt limit until Dec. 15, potentially avoiding an unprecedented default on U.S.
government debt.
    For a full report, click on
    
    - - - -
    
    LONDON - A rally in auto stocks lifted German shares to 10-day highs on Wednesday
as upbeat broker notes reawakened investor interest into a cheaply valued sector that
could benefit from plans to cut emissions.
    The German blue chip index, where big carmakers such as Volkswagen
 and Daimler are listed, rose 0.8 percent, while the pan-European
STOXX 600 index rose 0.1 percent after a choppy session where caution
prevailed ahead of a European Central Bank meeting on Thursday.
    For a full report, click on

    - - - -
    
    TOKYO - Japanese stocks ended nearly flat on Wednesday as retail investors' buying
in small-to-mid sized stocks offset losses incurred when the market tumbled to
four-month lows on heightened tensions in the Korean Peninsula.
    The Nikkei ended 0.1 percent lower at 19,357.97, after getting as low as
19,254.67 - the lowest level since May 1.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China blue-chip share index ended slightly weaker on Wednesday but off
the day's lows as strong gains in major state-owned firms helped offset rising North
Korea tensions.
    The CSI300 index fell 0.2 percent to 3,849.45 points, while the Shanghai
Composite Index closed little changed at 3,385.39.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are expected to edge up on Thursday, tracking Wall
Street which ended marginally up fueled by energy and financial stocks. 
    U.S. stocks rose after President Donald Trump agreed to pass an extension of the
U.S. debt limit by mid-December, avoiding a potential default on U.S. government debt.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korean shares fell for the fifth straight session on Wednesday,
ending at a near four-week low as market sentiment remained subdued on persistent North
Korea fears, prompting foreign investors to offload stocks in large volumes.
    The Korea Composite Stock Price Index (KOSPI) closed down 0.3 percent at
2,319.82 points, the lowest closing level since Aug. 11.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The U.S. dollar hit a multiyear low against the Canadian dollar on
Wednesday after the Bank of Canada surprised many by raising interest rates, while
rising against the safe-haven yen after President Donald Trump said he agreed with
lawmakers to pass an extension of the U.S. debt limit.
    The Bank of Canada (BoC) raised interest rates by 25 basis points to 1 percent
after a hike in July, putting Canada ahead of the curve in returning borrowing costs to
more normal levels after they were slashed due to the 2007-2009 financial crisis. 
    For a full report, click on

    - - - -
    
    CHINA - China's yuan firmed slightly against the U.S. dollar on Wednesday, but
gains were capped as a firmer midpoint eclipsed by rising corporate demand for the
greenback in morning trade.
    The Chinese currency moved sharply than usual on Tuesday, at one point
strengthening enough for 2017's gains to more than erase last year's losses.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian dollar backed away from stiff chart resistance around 80
U.S. cents on Wednesday after a report on domestic economic growth was not as exuberant
as bulls had wagered on, while its New Zealand counterpart paused after overnight
gains.
    The Australian dollar inched down to $0.7980, after touching a six-week
peak of $0.8028 late on Tuesday.
    For a full report, click on
    
    - - - -
    
    SEOUL - The South Korean won was pressured by heavy foreign sell-off on
Wednesday, extending losses to finish at more than a two-week low.
    The won was quoted at 1,135.4 to the dollar at the conclusion of onshore
trade, its lowest closing level since Aug. 21, and off 0.4 percent from Tuesday's
close.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasury yields rose on Wednesday as a congressional fiscal plan
that includes a three-month suspension of the debt ceiling gained support from
President Donald Trump, reducing safe-haven demand among investors worried about a
short-term default.
    The proposal from top Congressional Democrats also seeks to fund the government to
avert a shutdown as well as programs aimed to help those affected by Hurricane Harvey.
    For a full report, click on
    
    - - - -
    
    LONDON - Euro zone bond yields drifted higher on Wednesday, reversing early falls,
as the impact of strong gains in the U.S. Treasury market faded and focus turned to
higher oil prices and a keenly anticipated ECB meeting.
    U.S. Treasury yields hit almost 10-month lows on Tuesday as worries
about further nuclear tests by North Korea and the impact of powerful storm Irma
sparked demand for low-risk assets. When a bond's price rises, its yield falls.
    For a full report, click on
    
    - - - -
    
    TOKYO - Benchmark Japanese government bonds were mostly firm on Wednesday, taking
their cues from firm U.S. Treasuries as concerns about tensions on the Korean peninsula
continued to underpin fixed income markets.
    The 10-year cash JGB yield inched down half a basis point to 0.005
percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices fell on Wednesday from the one-year high hit in the previous session as
concerns over a potential U.S. government shutdown eased and the dollar rose against
the safe-haven yen.
    President Donald Trump said on Wednesday he had agreed on a three-month increase in
the U.S. debt ceiling with congressional leaders. If passed by the Republican-led
Congress, it would avert an unprecedented default on U.S. government debt, keep the
government funded for the first three months of the fiscal year beginning Oct. 1 and
provide aid to victims of Hurricane Harvey.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese rebar steel futures fell on Wednesday as physical trading cooled after a
round of speculative buying, stoked by fears that recently reported mill fires might
bring extensive plant shutdowns and tighter supply.
    The most-active January contract on the Shanghai Futures Exchange for
rebar - used in the construction sector - dropped 2.5 percent to 3,986 yuan ($609.37) a
tonne.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Zinc prices slipped on Wednesday as investors locked in profits after a sharp rally
in recent weeks that was based more on speculative buying than on underlying physical
demand.
 Losses were pared, however, and other metals moved into positive territory late in the
session, supported by a weaker dollar after the vice chair of the U.S. Federal Reserve
announced his resignation.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices rose more than 1 percent on Wednesday as strong global refining margins
and the reopening of U.S. Gulf Coast refineries provided a more bullish outlook after
sharp drops due to Hurricane Harvey.
    But traders remained wary of Hurricane Irma, ranked as one of the five most
powerful Atlantic hurricanes in the last 80 years, which was passing over the
northernmost Virgin Islands on Wednesday afternoon and headed toward Florida at the
weekend, raising concerns that it could knock out a major demand center and cause more
fuel shortages.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures snapped four days of losses on Tuesday, tracking gains
in rival edible oils on the Chicago Board of Trade (CBOT) and China's Dalian Commodity
Exchange.
    By Tuesday's close, the benchmark palm oil contract for November delivery
on the Bursa Malaysia Derivatives Exchange had gained 2.25 percent to 2,768 ringgit
($649.99) a tonne, posting its biggest daily percentage gain since July 25.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures rose for a third straight day on Wednesday, hitting
an over-three-month high, as the continuing rally in Shanghai futures raised risk
appetite among investors in Tokyo, dealers said.
    The Tokyo Commodity Exchange (TOCOM) rubber contract for February delivery,
 finished 4.9 yen, or 2.1 percent, higher at 233.5 yen ($2.15) per kg, after
hitting the highest since May 24 of 234.7 yen earlier in the session.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)

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