March 6, 2018 / 9:27 PM / 11 days ago

UPDATE 1-Asia Morning Call-Global Markets

    March 7 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,962.4        67.4        NZX 50**            8,321.8      -5.86
 DJIA**          24,884.12      9.36        NIKKEI**            21,417.76    375.67
 Nasdaq**        7,372.007      41.302      FTSE**              7,146.75     30.77
 S&P 500**       2,728.12       7.18        Hang Seng**         30,510.73    624.34
 SPI 200 Fut     5,957          3.00        STI**               3,491.92     53.31
 SSEC**          3,290.1747     33.25       KOSPI**             2,411.41     36.35
 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.052          -0.002      KR 10 YR Bond       2.759        0.022
 AU 10 YR Bond   2.823          0           US 10 YR Bond       2.8826       0.004
 NZ 10 YR Bond   3.04           0           US 30 YR Bond       3.1489       -0.002
 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3162         -0.0024     KRW US$             1,062.5      -14.17
 AUD US$         0.7819         0.0056      NZD US$             0.729        0.0066
 EUR US$         1.2403         0.0068      Yen US$             106.17       -0.03
 THB US$         31.29          -0.11       PHP US$             51.917       0.002
 IDR US$         13,770         10          INR US$             64.9         -0.12
 MYR US$         3.902          -0.003      TWD US$             29.287       -0.005
 CNY US$         6.31           -0.0398     HKD US$             7.8335       0.0014
 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,334.02       14.07       Silver (Lon)        16.739       0.308
 U.S. Gold Fut   1,335.3        15.4        Brent Crude         65.69        0.15
 Iron Ore        CNY524.5       4.5         TRJCRB Index        -            -
 TOCOM Rubber    JPY191.8       -2.2        LME Copper          6,992.5      82.5
    ** indicates closing price 
    All prices as of 2101 GMT

    GLOBAL - The U.S. dollar dropped to a two-week low on Tuesday as traders bet on
riskier currencies on news North and South Korea would hold their first summit in more
than a decade and after the South said the North was willing to discuss
denuclearization with the United States.
    The pan-European FTSEurofirst 300 index rose 0.17 percent and MSCI's gauge
of stocks across the globe gained 0.51 percent.
    For a full report, click on
    - - - -
    NEW YORK - U.S. stocks rose on Tuesday in a choppy session as investors watched
anxiously for signs U.S. President Donald Trump would scrap proposed tariffs to avoid a
trade war.
    At 2:50 p.m. ET, the Dow Jones Industrial Average rose 53.66 points, or 0.22
percent, to 24,928.42, the S&P 500 gained 9.28 points, or 0.34 percent, to
2,730.22 and the Nasdaq Composite added 41.51 points, or 0.57 percent, to
    For a full report, click on
    - - - -
    LONDON - European shares bounced off six-month lows on Tuesday as the focus shifted
from politics to dealmaking and earnings, with paper and packaging stocks soaring after
Smurfit Kappa rejected a bid approach.
    The pan-European STOXX 600 index ended up 0.1 percent, coming off earlier
highs following a late drop on Wall Street, while Italy's benchmark recouped
all of its losses from the previous session, up 1.8 percent, as concerns over political
uncertainty following an inconclusive election result eased.
    For a full report, click on

    - - - -
    TOKYO - Japan's Nikkei share average rose on Tuesday to snap a four-day losing run
after Wall Street shares rallied overnight, with the dollar's bounce lifting exporter
    The Nikkei ended the day up 1.79 percent at 21,417.76.
    For a full report, click on
    - - - -
    SHANGHAI - China stocks rebounded on Tuesday, aided by robust gains in shares of
real estate and healthcare firms, as worries of an imminent trade war eased.
    At the close, the Shanghai Composite index was up 1 percent at 3,289.64.
    For a full report, click on
    - - - -
    AUSTRALIA - Australian shares are set to trade flat on Wednesday, ahead of data on
the country's gross domestic product for the fourth quarter, due later in the day.
    The local share price index futures inched up 0.1 percent, or 3 points, to
5,957, a 5.4-point discount to the underlying S&P/ASX 200 index close. The
benchmark closed up over 1 percent on Tuesday.
    For a full report, click on
    - - - -
    SEOUL - South Korea's KOSPI stock index rebounded on Tuesday after a
four-day decline as trade worries eased over U.S. President Donald Trump's plan to
impose heavy tariffs on steel products and automobiles. 
    At 0630 GMT, the KOSPI was up 36.35 points or 1.53 percent at 2,411.41.
    For a full report, click on
    - - - -

    NEW YORK - The dollar fell to a one-week low on Tuesday against a basket of
currencies as traders piled back into riskier currencies after an agreement between
North and South Korea to hold direct talks.
    The dollar fell 0.458 points or 0.51 percent, against a group of currencies
to 89.622.
    For a full report, click on

    - - - -
    CHINA - China's yuan edged up against the U.S. dollar on Tuesday, supported by a
slightly firmer official midpoint, but gains were capped on rising corporate demand for
the greenback.
    In the spot market, the onshore yuan opened at 6.3352 per dollar and was
changing hands at 6.3404 at midday, 15 pips firmer than the previous late session close
but 0.03 percent weaker than the midpoint.
    For a full report, click on
    - - - -
    AUSTRALIA - The Australian and New Zealand dollars edged up on Tuesday as investors
wagered that U.S. President Donald Trump's threatened tariffs might not prove as
disruptive as first feared, reviving the appetite for risk.
    The Aussie dollar crept up 0.2 percent to $0.7780, off last week's
two-month trough at $0.7713, supported by a bounce in Asian share markets as Trump
faced growing pressure from political and nation-state allies to pull back from
proposed steel and aluminium tariffs.
    The kiwi dollar firmed 0.15 percent to $0.7235, slowly edging away from
its recent low at $0.7186.
    For a full report, click on
    - - - -
    SEOUL - The Korean won and bond yields rose.
    The won was quoted at 1,076.1 per dollar on the onshore settlement platform
, 0.55 percent firmer than its previous close at 1,082.
    For a full report, click on
    - - - -
    NEW YORK - U.S. Treasury yields were little changed on Tuesday in choppy trading as
optimism grew that U.S. President Donald Trump may back down from proposed steel and
aluminum tariffs that have prompted concerns about a global trade war.
    Benchmark 10-year note yields were last at 2.879 percent, unchanged on
the day.
    For a full report, click on
    - - - -
    LONDON - German bond yields rose sharply on Tuesday and were set for their worst
day in a month as fears of a global trade war ebbed, lifting risk appetite and taking
the shine off safe-haven assets before this week's European Central Bank meeting.
    Germany's 10-year bond yield climbed over 6 basis points to 0.70 percent
 at one stage, before settling at 0.67 percent. It was still up 7.5 bps from
around five-week lows hit on Monday following Italy's election.
    For a full report, click on
    - - - -
    TOKYO - Japanese government bond prices slipped on Tuesday as Tokyo stocks surged
amid an easing of trade war fears and reduced demand for safe-haven debt.
    The 10-year JGB yield rose half a basis point to 0.045 percent and
the 20-year yield also rose half a basis point, to 0.535 percent.
    For a full report, click on

    Gold prices rose more than 1 percent on Tuesday as the U.S. dollar slid after North
Korea signaled that it is open to nuclear talks and investors worried about aggressive
U.S. trade policy.
    Spot gold gained 1.1 percent at $1,334.79 per ounce by 1:33 p.m. EST (1833
GMT), while U.S. gold futures for April delivery settled up $15.30, or 1.2
percent, at $1,335.20.
    For a full report, click on
    - - - -
    Shanghai steel futures fell for a third session in a row on Tuesday, hitting a
one-week low amid tepid Chinese demand and dragging down prices of raw material iron
ore to their weakest in a month.
    he most-traded May iron ore on the Dalian Commodity Exchange fell as far
as 516.50 yuan a tonne, its lowest since Feb. 6, before closing down 1.7 percent at
520.50 yuan. Coking coal and coke also dropped.
    For a full report, click on
    - - - -
    Copper prices rose by the most in almost a month on Tuesday, helped by a weaker
dollar and expectations of strong demand in China, while zinc touched its lowest since
December after an increase in stocks calmed fears about availability.
    Benchmark copper on the London Metal Exchange closed 1.4 percent higher at
$7,004 a tonne, up from a three-week low on Monday and on track for the biggest gain
since Feb. 14.
    For a full report, click on
    - - - -
    Oil prices rose on Tuesday, supported by a weaker dollar but U.S. crude's gains
were limited by forecasts for a weekly rise in U.S. crude stockpiles.
    Brent crude futures rose 24 cents to $65.78 a barrel, a 0.4 percent gain,
by 1:13 p.m. EST (1813 GMT).
    For a full report, click on
    - - - -
    Malaysian palm oil futures rose on Tuesday after three days of losses, buoyed by
bullish forecasts from a leading analyst at an industry conference in Kuala Lumpur.
    The benchmark palm oil contract for May delivery on the Bursa Malaysia
Derivatives Exchange closed up 0.6 percent at 2,478 ringgit ($635) a tonne.
    For a full report, click on
    - - - -
    Benchmark Tokyo rubber futures erased early falls to close little changed on
Tuesday as a weaker yen offset losses in Shanghai futures, brokers said.
    The Tokyo Commodity Exchange rubber contract for August delivery,
finished 0.1 yen higher at 194 yen ($1.83) per kg.
    For a full report, click on
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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