September 17, 2017 / 9:48 PM / 3 months ago

Update 1-Asia Morning Call-Global Markets

    Sept 18 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,695.02       -43.66      NZX 50**            7,762.66     -56.57
 DJIA            22,268.34      64.86       NIKKEI**            19,909.5     102.06
 Nasdaq          6,448.467      19.38       FTSE**              7,215.47     -79.92
 S&P 500         2,500.23       4.61        Hang Seng**         27,807.59    30.39
 SPI 200 Fut     5,708.00       16.00       STI**               3,209.56     -11.39
 SSEC**          3,353.67       -17.76      KOSPI**             2,386.07     8.41
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 Bonds                                      Bonds                            
 JP 10 YR Bond   0.021          -0.019      KR 10 YR Bond       2.25         0.002
 AU 10 YR Bond   2.769          0.019       US 10 YR Bond       2.2023       0
 NZ 10 YR Bond   2.985          0.03        US 30 YR Bond       2.7692       0
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 Currencies                                                                  
 SGD US$         1.3452         -0.0011     KRW US$             1,133.46     1.25
 AUD US$         0.7996         -0.0007     NZD US$             0.7278       -0.001
 EUR US$         1.1931         -0.0013     Yen US$             111.03       0.19
 THB US$         33.09          -0.01       PHP US$             51.274       0.014
 IDR US$         13,238         -11         INR US$             64.105       -0.015
 MYR US$         4.188          -0.016      TWD US$             30.075       -0.031
 CNY US$         6.55           -0.004      HKD US$             7.8183       -0.0005
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 Commodities                                                                 
 Spot Gold       1,319.22       -10.21      Silver (Lon)        17.58        -0.163
 U.S. Gold Fut   1,325.2        -4.1        Brent Crude         55.62        0.15
 Iron Ore        CNY499.5       -9.5        TRJCRB Index        184.0516     0.7413
 TOCOM Rubber    JPY221.4       0.2         LME Copper          6,488        -10
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    ** indicates closing price 
    All prices as of 2115 GMT
    
    EQUITIES

    GLOBAL - A gauge of global equities rose and shares on Wall Street set new highs on
Friday as investors shrugged off the latest missile test by North Korea, while the
dollar eased on unexpected weak economic data that dimmed the likelihood for a U.S.
rate hike.
    MSCI's gauge of stocks across the globe gained 0.11 percent to set
a new high for an index that tracks the performance of more than 2,400 stocks in 47    
  countries.
    For a full report, click on
    
    - - - -
    
    NEW YORK - Wall Street reached record highs on Friday, with the S&P 500 surpassing
2,500 points as telecommunications shares rose and technology bounced back after two
days of declines.
    The Dow Jones Industrial Average rose 0.29 percent to end at 22,268.34
points, while the S&P 500 gained 0.18 percent to 2,500.23, records for both.
    For a full report, click on
    
    - - - -
    
    LONDON - European shares dipped on Friday as another North Korean missile launch
softened appetite for riskier banks and miners but still scored their strongest week
since July as attractive valuations tempted investors.
    The pan-European STOXX 600 and euro zone stocks both fell 0.3
percent, while export oriented FTSE slumped 1.1 percent as the pound spiked
higher after a Bank of England policymaker opened the door for a possible rate increase
in the coming months.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei share average ended higher on Friday and posted its biggest
weekly gain in ten months as a stronger dollar saw investors buying shares of
exporters, shrugging off North Korea's ballistic missile launch that dented risk
appetite in broader Asia.
    The Nikkei initially dipped in a knee-jerk reaction at the opening, but
soon rebounded and stayed in positive territory before ending 0.5 percent higher at
19,909.50.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - Shanghai stocks fell on Friday to end the week lower, as a slew of soft
data suggested the world's second-largest economy is starting to lose some momentum in
the face of rising borrowing costs and government-mandated capacity cuts.
    The blue-chip CSI300 index ended little changed at 3,831.30 points, while
the Shanghai Composite Index fell 0.5 percent to 3,353.62 points.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are expected to inch up on Monday, taking leads from
Wall Street’s strong finish in the previous session, though lower metal prices could
weigh on miners. 
    The local share price index futures rose 0.28 percent or 16 points to
5,708, a 13.0-point premium to the underlying S&P/ASX 200 index close. The
benchmark fell 0.8 percent on Friday. 
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korean shares rebounded to more than five-week highs on Friday and
the won also recouped early losses as investors largely shrugged off North
Korea's latest missile launch.
    The Korea Composite Stock Price Index (KOSPI) ended up 0.4 percent at
2,386.07 points, its highest close since Aug. 8.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The dollar weakened against most major currencies on Friday, weighed
down by an unexpected decline in U.S. retail sales last month that once again dimmed
expectations for an interest rate increase in December.
    In late trading, the dollar rose 0.6 percent to 110.88 yen, posting its best weekly
percentage gain since November.
    For a full report, click on

    - - - -
    
    SHANGHAI - China's yuan inched up slightly against the U.S. dollar on Friday, but
looked set for its biggest weekly loss since November as speculation swirls over
whether the central bank is looking to slow its rapid gains.
    In the spot market, the yuan opened at 6.5450 per dollar and was
changing hands at 6.5495 at midday on Friday.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian dollar was nursing losses for the week on Friday as
markets priced in a greater risk of rate increases in the United States and the UK, but
scant chance of any near-term tightening at home.
    The Australian dollar was pinned at $0.7992, to be down 0.7 percent for
the week so far having failed to hold the recent two-year peak of $0.8125.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korean shares rebounded to more than five-week highs on Friday and
the won also recouped early losses as investors largely shrugged off North
Korea's latest missile launch.
    The won was quoted at 1,131.7 to the dollar at the conclusion of onshore
trade, up 0.1 percent from Thursday's close of 1,132.6.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - Yield spreads between shorter-dated and longer-dated Treasuries
contracted on Friday as traders added to bets the Federal Reserve would wait until the
end of the year to raise rates and focus on its balance sheet at next week's policy
meeting.
    The benchmark 10-year yield was 2.201 percent, up marginally on the
day. It hit a three-week peak at 2.225 percent on Thursday.
    For a full report, click on
    
    - - - -
    
    LONDON - A euro zone government bond sell-off resumed on Friday after hawkish
rhetoric from a Bank of England policymaker bolstered a sense that central banks across
the developed world are moving into tightening mode.
    Germany's 10-year government bond yield, the benchmark for the euro zone, hit a
one-month high of 0.45 percent, up 2.5 bps on the day and up almost 5 bps from the
session's lows.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bond prices gained on Friday following a regular
debt-buying operation by the Bank of Japan.
    The benchmark 10-year yield declined 1 basis point to 0.025 percent,
pulling away from a three-week high of 0.040 percent set on Thursday.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices fell on Friday after a European Central Bank (ECB) official called for
scaling back the bank's stimulus program, although losses were capped when
weaker-than-expected U.S. economic data raised questions about further interest rate
hikes.
    Spot gold was down 0.6 percent at $1,321.88 an ounce by 1747 GMT on Friday.
It was down 1.8 percent for the week, on track for its biggest weekly decline since
early July.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    China's steel prices fell nearly 2 percent on Friday and posted their biggest
weekly loss since early June on growing concerns about a glut as mills in the world's
top producer rush to churn out metal ahead of a winter crackdown.
    Falling for a second straight session, the most-active rebar futures on the
Shanghai Futures Exchange closed 1.9 percent lower at 3,805 yuan ($581.58) a
tonne. Earlier, they hit 3,777 yuan, their lowest in three weeks.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Copper was steady on Friday, helped by a weaker dollar but still recorded its
biggest weekly price fall since March as investors took profits from a speculative
rally to three-year highs.
    Benchmark copper on the London Metal Exchange ended at $6,508 a tonne, up
0.1 percent on the day and down 2.8 percent this week. It has slipped from a three-year
high of $6,970 on Sept. 5 but is still up 18 percent so far this year.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Brent oil prices held near five-month highs on Friday and were on track for the
biggest weekly gain since late July, on forecasts for rising demand and the gradual
restart of U.S. oil refineries.
    Brent crude settled up 15 cents at $55.62 a barrel. The benchmark rose for
the third straight week, increasing 3.3 percent, the most since the end of July.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures dipped in the Friday session, retreating further from a
six-month high, as strong export figures cushioned the dampening effects of a rise in
export tax for October.
    The benchmark palm oil contract for November delivery on the Bursa
Malaysia Derivatives Exchange slid 0.2 percent to 2,861 ringgit ($683.31), easing
further from a six-month high of 2,873 ringgit hit on Wednesday's close.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures ended down 2.9 percent on Friday, after hitting a
near two-week low earlier in the session, led by Shanghai futures on news that the
world's top producers will not curb exports, brokers said.
    The Tokyo Commodity Exchange rubber contract for February delivery,
 finished down 6.7 yen at 221.2 yen ($2.00) per kg. For the week, it fell 2.1
percent. 
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)

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