February 7, 2018 / 9:20 PM / 17 days ago

UPDATE 1-Asia Morning Call-Global Markets

    Feb 8 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,876.80       43.5        NZX 50**            8,206.82     12.09
 DJIA**          24,893.35      -19.42      NIKKEI**            21,645.37    35.13
 Nasdaq**        7,051.984      -63.898     FTSE**              7,279.42     138.02
 S&P 500**       2,681.66       -13.48      Hang Seng**         30,323.2     -272.22
 SPI 200 Fut     5,812          22.00       STI**               3,383.77     -22.61
 SSEC**          3,309.5844     -61.07      KOSPI**             2,396.56     -56.75
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.073          -0.002      KR 10 YR Bond       2.718        -0.03
 AU 10 YR Bond   2.889          0.049       US 10 YR Bond       2.8416       0.076
 NZ 10 YR Bond   2.995          0.015       US 30 YR Bond       3.1165       0.073
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3252         0.0064      KRW US$             1,089.09     10.03
 AUD US$         0.7822         -0.0084     NZD US$             0.7224       -0.0116
 EUR US$         1.2267         -0.0109     Yen US$             109.49       -0.06
 THB US$         31.64          0.13        PHP US$             51.24        -0.154
 IDR US$         13,552         2           INR US$             64.27        0.05
 MYR US$         3.907          -0.0065     TWD US$             29.27        -0.116
 CNY US$         6.283          -0.0181     HKD US$             7.8179       -0.0006
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,316.48       -8.4501     Silver (Lon)        16.344       -0.294
 U.S. Gold Fut   1,318.7        -10.8       Brent Crude         65.42        -1.44
 Iron Ore        CNY525.5       3           TRJCRB Index        -            -
 TOCOM Rubber    JPY195.4       -0.1        LME Copper          6,880        -196
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--  
    ** indicates closing price 
    All prices as of 21:14 GMT
    
    EQUITIES

    GLOBAL - 
     The Dow and S&P 500 edged up in choppy trading on Wednesday afternoon, though
energy shares dropped as oil prices fell 2 percent after U.S. data fanned fears of
oversupply.
    European shares closed up 2 percent, snapping a seven-day losing streak, while a
world stock index was up slightly.
    For a full report, click on
    
    - - - -
     
    NEW YORK - 
    U.S. stocks closed lower in an up-and-down session on Wednesday, dragged down by
tech and energy shares, as investors adjusted to a more volatile market following wild
swings of the past few sessions.
    The Dow Jones Industrial Average fell 19.7 points, or 0.08 percent, to
24,893.07, the S&P 500 .SPX lost 13.51 points, or 0.50 percent, to 2,681.63 and the
Nasdaq Composite dropped 63.90 points, or 0.9 percent, to 7,051.98.
    For a full report, click on
    
    - - - -
    
    LONDON - 
    European shares broke a seven-day losing streak on Wednesday as investors took
heart from a recovery on Wall Street and reduced volatility, returning their focus to
some upbeat company earnings.
    All sectors in Europe were trading in positive territory, helping the pan-European
STOXX 600 index rise 2.1 percent at the close.
    For a full report, click on

    - - - -
    
    TOKYO - 
    Japanese stocks pared early gains to end a notch higher in volatile trade on
Wednesday, as investors stayed on guard for more losses in global equity markets after
U.S. futures slipped.
    The Nikkei 225 share average ended 0.2 percent higher at 21,645.37, after
climbing as high as 22,353.87 in early trade.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - 
    China stocks reversed earlier gains encouraged by a rebound on Wall Street and
dropped to one-month lows on Wednesday, as investors sold off real estate and consumer
firms that had handsome gains in recent months.
    An index tracking major developers plummeted 7.6 percent, posting its
worst percentage fall since July 2015. The index had been on a five-month
winning-streak until February.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - 
    Australian shares are set to open slightly higher on Thursday, extending their
recovery into a second session as investors grappled with a global exodus from
equities. 
    The local share price index futures rose 28 points to 5,818.0, a
58.8-point discount to the underlying S&P/ASX 200 index close.
    For a full report, click on
    
    - - - -
    
    SEOUL - 
    South Korea's KOSPI stock index dropped more than 2 percent to close at
over four-month lows on Wednesday, extending a losing streak since Thursday. The Korean
won rose on the local platform while bond yields fell.
    At 06:32 GMT, the KOSPI was down 56.75 points or 2.31 percent at 2,396.56. Investor
anxiety heightened on losses in China's share market, resulting in over 700 billion won
worth of selling from domestic institutions, said Lee Kyung-min, a stock analyst at
Daishin Securities.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - 
    The U.S. dollar rose on Wednesday, marking its biggest one-day gain in more than
three months against a basket of currencies, even as Wall Street recovered from
Monday's stock market rout and limited the greenback's safe-haven appeal.
    For a full report, click on

    - - - -
    
    SHANGHAI -
    China's yuan rose to a new 2-1/2-year high against the U.S. dollar on Wednesday,
driven by a much stronger yuan midpoint and heavy corporate greenback selling.
    Both the official guidance rate and spot yuan rate CNY=CFXS advanced to
their highest level since Aug. 11, 2015, when China rattled global markets with a sharp
2 percent one-off currency devaluation.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - 
    The Australian and New Zealand dollars nudged up on Wednesday from multi-week lows
but sentiment was still jittery following the recent sell-off in global markets.
    The Australian dollar was last down 0.3 percent at $0.7881, but well above
a one-month low of $0.7835 touched on Tuesday when a rout in global stock markets
sparked a flight to safe havens.
    For a full report, click on
    
    - - - -
    
    SEOUL - 
    The won was quoted at 1,086.6 per dollar on the onshore settlement platform
, 0.45 percent firmer than its previous close at 1,091.5.
    In offshore trading, the won was quoted at 1,086.17 per dollar, down 0.66
percent from the previous day, while in one-year non-deliverable forwards
it fetched 1,076.05 per dollar.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - 
    U.S. Treasury prices dropped on Wednesday after the Treasury Department sold new
10-year notes to soft demand and the U.S. Senate reached a budget deal, boosting
expectations of stronger economic growth.
    The U.S. government had to pay higher rates to auction $24 billion in 10-year
notes, the second sale of $66 billion in coupon-bearing supply this week.
    For a full report, click on
    
    - - - -
    
    LONDON - 
    Southern European government bond yields tumbled on Wednesday, extending a recent
outperformance over peers on reports that Germany's pro-European, pro-spending Social
Democratic party would head the finance ministry in a coalition government.
    For a full report, click on
    
    - - - -
    
    TOKYO - 
    Japanese government bond prices dipped on Wednesday as Japanese stocks rebounded
after three days of heavy losses and reduced investor demand for safe-haven debt.
    The five-year JGB yield rose 1 basis point to 0.080 percent. The
benchmark 10-year yield climbed half a basis point to 0.075 percent and
the 20-year yield was also half a basis point higher, at 0.585 percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD
    
    Gold slipped on Wednesday as the U.S. dollar strengthened and global shares clawed
their way off two-month lows, though bullion was underpinned by the view that the
dollar's bear run remains in place despite rate hike expectations.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese coking coal and coke futures rose for the fifth straight session on
Wednesday as traders said steel mills were stocking up on raw materials ahead of a
hoped-for resumption of full production after the upcoming Lunar New Year holiday.
    The most-traded coke contract for May delivery on the Dalian Commodity Exchange
 rose as far as 2,167.50 yuan ($346) a tonne, the most since Dec. 18, before
closing 1.8 percent higher at 2,155.50 yuan.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
     Copper fell by almost 3 percent on Wednesday and other base metals turned lower as
stock markets resumed this week's volatile trading while concerns that fundamentals do
not justify current price levels also weighed on the red metal.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices fell to a one-month low on Wednesday after U.S. data showed a build in
inventories and record high crude production, raising worries that the market could be
in for more selling, exposing speculators that have bet big on upward momentum in
crude.
    U.S. West Texas Intermediate (WTI) crude dropped $1.87, or 3 percent, to
$61.52 a barrel, as of 1:38 p.m. EST (1838 GMT). WTI hit a low of $61.33, the lowest
level since Jan. 5. Volumes were heavy, with more than 806,000 front-month futures
trading, compared with an average of 634,000 contracts over the last 200 days.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures rose to a one-week high on Wednesday evening, supported
by gains in rival edible oils.
    The benchmark palm oil contract for April delivery on the Bursa Malaysia
Derivatives Exchange was up 0.6 percent at 2,485 ringgit ($636.04) a tonne at the
close. It earlier rose as much as 1.6 percent to 2,510 ringgit, its highest since Jan.
30.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures snapped two straight sessions of falls on Wednesday,
helped by a weaker yen against the dollar, brokers said.
    Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices
in Southeast Asia, also got support from gains in oil prices in Asian trading.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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