May 17, 2020 / 7:47 PM / 7 days ago

Asia Morning Call-Global Markets

    May 18 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,404.80       76.10       NZX 50**            10,730.68    -14.4800
 DJIA            23,685.42      60.08       NIKKEI**            20,037.47    122.69
 Nasdaq          9,014.56       70.84       FTSE**              5,799.77     58.23
 S&P 500         2,863.7        11.20       Hang Seng**         23,797.47    -32.27
 SPI 200 Fut     5,436.00       32.00       STI**               2,523.55     1.24
 SSEC**          2,868.46       -1.88       KOSPI**             1,927.28     2.32
 Bonds                                      Bonds                            
 JP 10 YR Bond   0.004          0.006       KR 10 YR Bond       1.377        -0.007
 AU 10 YR Bond   0.92           -0.003      US 10 YR Bond       0.6444       0
 NZ 10 YR Bond   0.665          0           US 30 YR Bond       1.3247       0
 SGD US$         0              0           KRW US$             1,232.69     5.66
 AUD US$         0              0           NZD US$             0.5931       0
 EUR US$         1.0815         0.0011      Yen US$             107.02       -0.22
 THB US$         32.08          -0.01       PHP US$             50.65        0.17
 IDR US$         14,830         -10         INR US$             75.828       0.011
 MYR US$         4.349          0.011       TWD US$             29.95        0.002
 CNY US$         7.1012         0.0072      HKD US$             7.7508       -0.0011
 Spot Gold       1,741          11.7271     Silver (Lon)        16.62        0.75
 U.S. Gold Fut   1,756.30       16.1        Brent Crude         0            0
 Iron Ore        CNY668         20          TRJCRB Index        -            -
 TOCOM Rubber    JPY152.5       -0.5        LME Copper          5,185        -14.5
    ** indicates closing price 
    All prices as of 18:38 GMT

    GLOBAL - U.S. stocks gyrated on Friday before ending slightly higher, as investors
worried about increased China-U.S. trade hostilities and disappointing retail sales
figures, while signs of a pick-up in crude demand boosted oil prices.
    A broad measure of European stocks ended a bruising week roughly 4% lower,
the biggest weekly fall since the mid-March rout as the coronavirus crisis spread
    For a full report, click on
    - - - -
    NEW YORK - Wall Street's three major indexes closed higher after swinging between
gains and losses on Friday as investors weighed worries about Sino-U.S. trade relations
and weaker-than-expected U.S. economic data against growing optimism that easing
coronavirus restrictions would boost activity this month.
    The Dow Jones Industrial Average rose 60.08 points, or 0.25%, to 23,685.42,
the S&P 500 gained 11.2 points, or 0.39%, to 2,863.7 and the Nasdaq Composite
 added 70.84 points, or 0.79%, to 9,014.56.
    For a full report, click on
    - - - -
    LONDON - European stocks closed higher on Friday, but marked their worst weekly
losses since mid-March as rising U.S.-China tensions added to concerns that a global
economic downturn may be here longer than feared.
    The pan-European STOXX 600 index ended 0.5% higher, with miners
rising 2.8% after data showed China's industrial production climbed by a
faster-than-expected 3.9% in April.
    For a full report, click on

    - - - -
    TOKYO - Tokyo shares rebounded on Friday after three straight sessions of losses,
but logged their first weekly decline in three as investor sentiment took a hit
following a deterioration in U.S.-China relations.
    The benchmark Nikkei average ended 0.6% higher at 20,037.47, with
recently-battered cyclical sectors leading gains. For the week, the index lost 0.7%.
    For a full report, click on
    - - - -
    SHANGHAI - Chinese blue-chip stocks slipped on Friday to end their worst week since
March as economic growth worries linger on lacklustre consumption and U.S.-China trade
    At the close, the Shanghai Composite index was down 0.1% at 2,868.46. The
index fell 0.9% week on week, its first week in negative territory in May.
    For a full report, click on
    - - - -
    AUSTRALIA - Australian shares closed firmer on Friday, led by mining stocks, as
factory output data from the country's biggest trading partner China signalled robust
domestic demand and gradual recovery from the coronavirus-led lockdown.
    The S&P/ASX 200 index closed 1.43% firmer in broad-based gains at 5,404.8
points. The benchmark ended the week 0.3% higher, marking its third weekly gain.
    For a full report, click on
    - - - -
    SEOUL -  South Korean shares edged higher on Friday as Chinese factory data showed
signs of a recovery in the world's second-largest economy, although simmering Sino-U.S.
tensions capped gains.
    The Seoul stock market's main KOSPI closed up 2.32 points, or 0.12%, to
1,927.28. But it dropped 1% for the week, its second straight weekly loss, having
rebounded sharply in April from coronavirus-driven routs.
    For a full report, click on
    - - - -

    NEW YORK - The U.S. dollar rose on Friday to notch a 0.66% weekly gain as the
threat of a second wave of coronavirus infections rattled investors as did a slew of
bleak U.S. economic data.
    The U.S. dollar index attracted safe-haven bets on Friday after U.S. retail
sales endured a second straight month of record declines in April as the novel
coronavirus pandemic kept Americans at home, putting the economy on track for its
biggest contraction in the second quarter since the Great Depression. 
    For a full report, click on

    - - - -
    SHANGHAI - China's yuan eased against the dollar on Friday and looked set for the
biggest weekly loss in a month, as deteriorating relations with the United States and a
slow economic recovery from the coronavirus pandemic made investors wary.
    For a full report, click on
    - - - -
    The Australian and New Zealand dollars dipped on Friday amid doubts on how quickly
the global economy can recover from the coronavirus, while kiwi bonds suffered sticker
shock at government plans to more than double its debt load.
    The Aussie eased to $0.6458, leaving it with losses of 1.1% on the week so
far. For three weeks now, it has repeatedly tested resistance in the $0.6550/70 zone
and failed to break through, leaving it vulnerable to a retracement to support around
    For a full report, click on
    - - - -
    SEOUL - The won closed trading at 1,231.0 per dollar on Friday on the onshore
settlement platform, 0.24% lower than its previous close at 1,228.0.
    In offshore trading, the won was quoted at 1,230.8 per dollar, down 0.3%
from the previous day, while in non-deliverable forward trading its one-month contract
KRW1MNDFOR= was quoted at 1,230.7.
    For a full report, click on
    - - - -
    NEW YORK - U.S. Treasury yields were slightly higher on Friday as investors looked
for signs that public health steps have readied the economy to reopen.
    The benchmark 10-year yield was up 2.5 basis points to 0.6444%, putting
it close to the middle of the note's range all week and pointing to investors' faith in
the government bonds despite a stream of negative economic reports, said Kim Rupert,
senior economist for Action Economics.
    For a full report, click on
    - - - -
    LONDON - Core euro zone bond yields were steady on Friday, largely disconnected
from swings in global risk appetite, before a key meeting between euro area finance
    Germany's 10-year government bond yield was up 1 basis point in late trade to
    For a full report, click on
    - - - -
    TOKYO - Mid-to long- dated Japanese government bond yields rose on Friday due to
growing concerns about the country's plan on a second extra budget and a probable
increase in government debt issuance to finance its stimulus.
    Benchmark 10-year JGB futures rose 0.01 point to 152.29, with a trading
volume of 12,906 lots, while the 10-year JGB yield rose 0.5 basis point
to minus 0.005%.
    For a full report, click on

    Gold jumped more than 1% on Friday to levels last seen in 2012, as renewed
U.S.-China trade tensions added to concerns about a deep economic slump due to the
coronavirus pandemic.
    Spot gold rose 0.7% to $1,741.65 per ounce by 2:49 p.m. EDT (1847 GMT).
During the session it hit its highest since November 2012 at $1,751.25. Bullion has
risen over 2% so far this week.
    For a full report, click on
    - - - -
    Chinese iron ore futures scaled a 9-1/2-month peak on Friday, as domestic economic
data reflected recovery and robust demand in the world's top steel producer, helping
the steelmaking ingredient notch its biggest weekly gain in 10 weeks.
    The world's second-largest economy churned out 85.03 million tonnes of crude steel
last month, sending its daily output to 2.83 million tonnes, the highest since June
2019, according to Reuters calculations based on data released by the National Bureau
of Statistics on Friday.
    For a full report, click on
    - - - -
    Copper prices fell on Friday and were set for a weekly loss as rising stockpiles
and dire economic data around the world hammered home fears that demand will remain
weak despite a rebound in Chinese factory activity.
    Benchmark copper on the London Metal Exchange (LME) was down 0.3% at $5,185
a tonne at 1613 GMT and more than 1.5% lower this week -- its biggest weekly loss since
late March.
    For a full report, click on
    - - - -
    U.S. crude prices jumped 7% on Friday to their highest since March, on
strengthening fuel demand as countries around the world eased travel restrictions they
had imposed to curb the spread of the coronavirus.
    U.S. crude gained 19.7% in the week and Brent crude rose 5.2% after
a week of bullish news. Both contracts gained for the third consecutive week.
    For a full report, click on
    - - - -
    Malaysian palm oil futures rose 3% on Friday after exports rose in May and as the
world's second-largest producer, Malaysia, scrapped its export duty on the commodity
for June.
    The steep cut in export duty to 0% for June, from 4.5% in May, comes amid an
estimated 25% slump in global demand for the edible oil as the coronavirus outbreak
shuttered restaurants and curbed travel around the world.
    For a full report, click on
    - - - -
Tokyo Commodity Exchange (TOCOM) futures climbed on Friday helped by a weaker yen
against the U.S. dollar, but many investors stayed on the sidelines amid growing
tensions between top rubber buyer China and the United States.
    TOCOM's rubber contract for October delivery, finished 1.9 yen
higher at 153.0 yen ($1.43) per kg. For the week, it eked out a 0.2% gain, marking a
second straight weekly gain.
    For a full report, click on
    - - - -


 (Bengaluru Bureau; +91 80 6749 1130)
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