January 29, 2018 / 9:25 PM / 3 months ago

UPDATE 1-Asia Morning Call-Global Markets

    Jan 30 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   6,075.40       25.40       NZX 50**            8,327.59     -0.20
 DJIA**          26,439.48      -177.23     NIKKEI**            23,629.34    -2.54
 Nasdaq**        7,466.505      -39.267     FTSE**              7,671.53     5.99
 S&P 500**       2,853.53       -19.34      Hang Seng**         32,966.89    -187.23
 SPI 200 Fut     5,983.0        -27.0       STI**               3,577.07     9.93
 SSEC**          3,523.5009     -34.63      KOSPI**             2,598.19     23.43
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.084          0           KR 10 YR Bond       2.744        0.065
 AU 10 YR Bond   2.845          0           US 10 YR Bond       2.6936       0.032
 NZ 10 YR Bond   2.96           0.015       US 30 YR Bond       2.9421       0.029
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3102         0.0028      KRW US$             1,070        6.33
 AUD US$         0.8094         -0.0014     NZD US$             0.7318       -0.0035
 EUR US$         1.2381         -0.0038     Yen US$             108.94       0.24
 THB US$         31.43          0.09        PHP US$             51.279       0.344
 IDR US$         13,362         56          INR US$             63.59        0.01
 MYR US$         3.879          0.01        TWD US$             29.15        0.049
 CNY US$         6.346          0.0129      HKD US$             7.8173       0.0002
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,341.51       -8.25       Silver (Lon)        17.16        -0.23
 U.S. Gold Fut   1,340.5        -11.6       Brent Crude         69.34        -1.18
 Iron Ore        CNY518.5       3           TRJCRB Index        199.5363     -0.9837
 TOCOM Rubber    JPY199         0.9         LME Copper          7,089        4
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--  
    ** indicates closing price 
    All prices as of 2101 GMT
    
    EQUITIES

    GLOBAL - Global equity markets eased on Monday and U.S. Treasury yields surged to
more than three-year highs after remarks by a European Central Bank official added to
expectations that central banks globally will reduce stimulus as the economic outlook
improves.
    U.S. stocks fell on news that Apple will halve the production target for
its flagship iPhone X this quarter. 
    For a full report, click on
    
    - - - -
    
    NEW YORK - Wall Street backed off from record levels on Monday, with the Dow
slipping more than 100 points, dragged lower by a slide in Apple shares after
a report said iPhone X demand was waning.
    Shares of Apple fell as much 2.6 percent after the Nikkei reported the company will
cut production of its flagship gadget in half. Analysts expect the tech giant to report
quarterly EPS of $3.83 on Thursday. 
    For a full report, click on
    
    - - - -
    
    LONDON - Stellar results from chip-maker AMS and another big pharma deal dominated
European share trading at the start of a heavy earnings week, while a rise in bond
yields hit income stocks.
    The euro, whose strength had crimped stocks late last week, eased back from its
highs, but Europe's STOXX 600 index edged 0.2 percent, as investors held their
breath for the results rush.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei ended flat in choppy trade on Monday with gains in cyclicals
such as memory chip makers offset by weakness in in shares sensitive to domestic
demand, notably railroad and construction companies.
    The Nikkei share average ended flat at 23,629.34 after flirting in positive
territory in early trade.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China stocks tumbled on Monday, with the blue-chip index posting its
worst day in more than two months, led by a slump in consumer and healthcare firms as
investors booked profits after a recent strong rally.
    At the close, the Shanghai Composite index was down 34.63 points or 0.97
percent at 3,523.50.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are set to slide on Tuesday, taking their cues from a
lower finish on Wall Street, while a fall in commodities prices could lead to a
weakness in materials stocks.
    The local share price index futures fell 0.5 percent or 28 points to
5,982, a 93.4-point discount to the underlying S&P/ASX 200 index close.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's KOSPI stock index was up 23.43 points or 0.91 percent
at 2,598.19, an all-time closing high.
    The benchmark index has climbed for five consecutive sessions. Investor confidence
remained strong, especially in tech and finance-related shares after chipmaker SK Hynix
 posted its biggest-ever quarterly earnings last week.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The dollar rose on Monday against a basket of currencies as U.S. bond
yields climbed and traders waited for a Federal Reserve meeting and a U.S. jobs report
later in the week, while the euro and pound were both down.
    Against a basket of currencies, the dollar index rose 0.28 percent to 89.319
as of 2041 GMT.
    For a full report, click on

    - - - -
    
    SHANGHAI - China's yuan edged up slightly against the U.S. dollar on Monday,
following a much stronger midpoint fixing by the central bank.
    In the spot market, the onshore yuan opened at 6.3266 per dollar and was
changing hands at 6.3250 at midday, 45 pips firmer than the previous late session close
and 0.03 percent stronger than the midpoint.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian dollar eased from 2-1/2 year peaks on Monday as
speculators booked some profits on short U.S. dollar positions while bracing for a key
report on domestic inflation later in the week.
    The Aussie dollar was down 0.26 percent at $0.8091, having stretched as
far as $0.8136 on Friday. That was its highest since May 2015 and cleared a double top
from September at $0.8105 and $0.8125.
    For a full report, click on
    
    - - - -
    
    SEOUL - The won was quoted at 1,065.6 per dollar on the onshore settlement platform
, 0.16 percent weaker than its previous close at 1,063.9.
    In offshore trading, the won was quoted at 1,064.87 per U.S. dollar, down
0.11 percent from the previous day, while in one-year non-deliverable forwards
 it was being transacted at 1,055.6 per dollar.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasury yields surged to more than three-year highs on Monday
after comments from a European Central Bank official added to expectations that central
banks globally will reduce stimulus as the economic outlook improves.
    A break of technical support levels added to bearish sentiment with benchmark
10-year yields rising above the trendline that has marked a more than 30-year bull run
dating back to the 1980s.
    For a full report, click on
    
    - - - -
    
    LONDON - Five-year German bond yields turned positive for the first time since late
2015 on Monday and yields across the euro area hit fresh highs after a European Central
Bank policymaker said the ECB should make clear it would end its bond purchases this
year.
    Dutch central bank chief Klaas Knot said on Sunday the ECB should make clear that
it will end its asset purchases after the current bond buying programme ends in
September, adding: "There is no reason whatsoever to continue the programme."
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bond prices slipped on Monday, in line with a retreat
by U.S. Treasuries, although further losses were curbed after results of the Bank of
Japan's bond purchases showed limited selling interest.
    The benchmark 10-year yield rose 1 basis point to 0.080 percent and
the 20-year yield edged up half a basis point to 0.580 percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices fell on Monday as a recovery in the U.S. dollar and rising government
bond yields prompted investors to cash in bullion after its sixth weekly price rise in
seven weeks.
    Gold has risen more than 3 percent so far this month, and after a strong end to
December touched its highest since August 2016 last week at $1,366.07 an ounce.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese iron ore futures fell to their weakest level in a month on Monday as demand
for the steelmaking commodity remained slow in the world's top buyer, keeping stocks at
its ports near a record high.
    Arrivals in China were also sustained by a lack of weather interruptions to
shipments from top iron ore suppliers Australia and Brazil, which can be common at this
time of the year.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Zinc prices surged to the highest since 2007 on Monday as falling stockpiles
suggested tight supplies, while expectations of strong demand pushed nickel to a 2
1/2-year peak after it broke through a key technical level last week.
    Most industrial metals rose as investors looked ahead to details of
infrastructure-building in U.S. President Donald Trump's State of the Union address on
Tuesday and Chinese manufacturing PMI data on Wednesday.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices fell on Monday, pressured by a strengthening dollar and rising U.S.
crude output, but prices remained on track for the biggest January increase in five
years.
    Brent crude futures were down $1.11 at $69.41 a barrel at 1:26 p.m. EST
(1826 GMT). U.S. West Texas Intermediate (WTI) crude futures fell 56 cents, or
nearly 1 percent, to $65.58 a barrel.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures rose more than 1 percent on Monday evening, its sharpest
daily gain since the start of the year, on expectations that demand will recover and on
a weaker ringgit, the tropical oil's currency of trade.
    Palm oil prices had been weighed down last week as the ringgit strengthened after
the central bank raised interest rates.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures slid to a nearly 2-month low on Monday, as a
stronger yen against the U.S. dollar prompted fresh selling, brokers said.
    The Tokyo Commodity Exchange (TOCOM) rubber contract for July delivery,
 finished 7 yen lower at 198.1 yen ($1.82) per kg after touching 197 yen
earlier, the lowest since Dec. 1.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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