January 18, 2018 / 9:19 PM / 4 months ago

UPDATE 1-Asia Morning Call-Global Markets

    Jan 19 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   6,014.6        -1.20       NZX 50**            8,272.67     -25.0
 DJIA**          26,017.81      -97.84      NIKKEI**            23,763.37    -104.97
 Nasdaq**        7,296.047      -2.232      FTSE**              7,700.96     -24.47
 S&P 500**       2,798.03       -4.53       Hang Seng**         32,121.94    138.53
 SPI 200 Fut     5,972.0        20.0        STI**               3,521.31     -20.60
 SSEC**          3,475.9148     31.24       KOSPI**             2,515.81     0.38
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.081          0.001       KR 10 YR Bond       2.621        -0.016
 AU 10 YR Bond   2.803          0.015       US 10 YR Bond       2.62         0.042
 NZ 10 YR Bond   2.96           0.015       US 30 YR Bond       2.8961       0.048
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3213         -0.0038     KRW US$             1,069.47     3.11
 AUD US$         0.7997         0.0026      NZD US$             0.7305       0.0034
 EUR US$         1.2235         0.0051      Yen US$             111.06       -0.22
 THB US$         31.9           -0.04       PHP US$             50.77        0.058
 IDR US$         13,345         -10         INR US$             63.86        -0.02
 MYR US$         3.954          0.002       TWD US$             29.562       0.002
 CNY US$         6.418          -0.0155     HKD US$             7.8176       -0.0005
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,327.61       -0.04       Silver (Lon)        16.93        -0.081
 U.S. Gold Fut   1,327.5        -11.7       Brent Crude         69.3         -0.08
 Iron Ore        CNY534         -0.5        TRJCRB Index        196.3443     -0.0602
 TOCOM Rubber    JPY211         -1          LME Copper          7,074.5      40.5
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--  
    ** indicates closing price 
    All prices as of 2018 GMT
    
     EQUITIES

    GLOBAL - A gauge of world stock markets dipped on Thursday, pausing after notching
a string of record highs, as a decline in Boeing and healthcare names weighed on U.S.
equities.
    Shares on Wall Street took a breather after the strongest performance of the year
for the Dow Jones Industrial Average and the benchmark S&P 500 saw the indexes close
above 26,000 and 2,800, respectively, for the first time.
    For a full report, click on
    
    - - - -
    
    NEW YORK - Wall Street's main indexes seesawed in choppy trade on Thursday, as
gains in tech stocks offset losses in interest-rate sensitive sectors.
    Gains in tech stocks lifted the Nasdaq, while the S&P was flat and the Dow sagged
just a day after closing above 26,000 for the first time.
    For a full report, click on
    
    - - - -
    
    LONDON - European shares notched up modest gains on Thursday, led higher by a fresh
rise for so-called cyclical stocks while company updates and ratings changes from
brokers spurred moves among individual names.
    The pan-European STOXX 600 was up 0.2 percent at its close, while the UK's
FTSE declined 0.3 percent.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei share average ended lower on Thursday, pulling back from a
new 26-year high as investors turned cautious, while real estate stocks and financial
firms underperformed.
    The Nikkei dropped 0.4 percent to 23,763.37, after hitting 24,084.42 in
early trade, the highest since November 1991.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China stocks climbed on Thursday to end at two-year highs, underpinned
by robust gains in banking and infrastructure firms. Share markets closed just as China
was announcing that it had annual economic growth of 6.8 percent in October-December.
    At the close, the Shanghai Composite index was up 31.24 points or 0.91
percent at 3,475.91.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are likely to edge higher on Friday, pushed up by a
rise in the materials sector, which may benefit from higher commodity prices and upbeat
China data.
    The local share price index futures inched up 0.2 percent, or 13 points,
to 5965, a 49.6-point discount to the underlying S&P/ASX 200 index close.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's KOSPI stock index rose on Thursday. The Korean won
weakened and bond yields fell.
    At 06:30 GMT, the KOSPI was up 0.38 points or 0.02 percent at 2,515.81.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The U.S. dollar fell on Thursday as traders piled into the euro, yen,
sterling and other major currencies, prompted by concerns over a possible U.S.
government shutdown as lawmakers struggled to cobble together a federal budget deal.
    If an agreement to fund government operations, even a temporary one, is not reached
by the Friday deadline, it would compound an already negative climate for the
greenback, analysts said.
    For a full report, click on

    - - - -
    
    SHANGHAI - China's yuan reversed earlier losses and ended at its strongest in more
than two years at the official domestic close on Thursday, buoyed by upbeat economic
growth data.
    The onshore yuan opened at 6.4400 per dollar and changed hands at 6.4255
by the 0830 GMT domestic close, the strongest since Dec. 8, 2015.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian dollar was back where it started on Thursday after a
brief foray above 80 U.S. cents was foiled by heavy profit-taking, which also muted the
effect of a bumper jobs report.
    The Aussie was barely changed at $0.7962, after venturing as far as
$0.8023 overnight in the first break above $0.8000 since September.
    For a full report, click on
    
    - - - -
    
    SEOUL - The won was quoted at 1,070.7 per dollar on the onshore settlement platform
, 0.13 percent weaker than its previous close at 1,069.3. Trade was calm
through the session as the Bank of Korea's decision to hold interest rates was in line
with expectations.
    In offshore trading, the won was quoted at 1,069.93 per U.S. dollar, down
0.33 percent from the previous day, while in one-year non-deliverable forwards
 it was being transacted at 1,061.3 per dollar.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - Yields on U.S. 10-year notes reached a 10-month high on Thursday after
China reported fourth-quarter growth that accelerated for the first time in seven
years.
    China's gross domestic product grew 6.8 percent in the October to December period
from a year earlier. An export recovery helped the country post an annual acceleration
in growth, defying concerns that intensifying curbs on industry and credit would hurt
expansion.
    For a full report, click on
    
    - - - -
    
    LONDON - Borrowing costs in the euro area edged towards recent multi-month highs on
Thursday, as a sell-off in U.S. Treasuries and new supply from France, Spain and
Austria put bond markets on the back foot once again.
    The 10-year U.S. Treasury yield hit its highest since March 2017 at 2.61 percent
 in European trade, pushing euro zone counterparts higher.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bond prices dipped on Thursday, with the benchmark
10-year yield briefly hitting a six-month high, before reversing early losses to end
flat on bargain-hunting.
    The 10-year yield rose to as high as 0.090 percent, its highest
since July 12, before stepping back to 0.080 percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

Gold was flat in a narrow range on Thursday, first dipping as the dollar rose and then
rising as the dollar moved lower, but bullion's gains were limited by higher U.S.
Treasury yields.
    Financial market players were concerned about a possible U.S. government shutdown,
but this did not move gold very much.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
Chinese iron ore futures edged higher on Thursday as firmer steel prices helped the raw
material rebound after a five-day slide, with coke prices also recovering.
    Restrictions on steel production in northern Chinese cities during winter have
dented demand for iron ore and dragged prices lower. Despite those curbs though,
China's crude steel output hit a record 831.7 million tonnes last year, up 5.7 percent,
government data showed.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
Copper rose on Thursday as a robust performance by China's industrial sector helped to
lift the biggest metal consumer's economic growth in the fourth quarter.
    Benchmark copper rose 0.8 percent to $7,092 a tonne in official trading
rings after the metal, which is used particularly in power and construction, touched a
four-week low in the previous session.
    For a full report, click on
    
    - - - -
    
    OIL
    
Oil rebounded after slipping below $69 a barrel on Thursday, supported by a record
drawdown of U.S. crude stockpiles at the Cushing, Oklahoma delivery hub, despite
concerns that OPEC-led output cuts will increase supply from the United States.
    Crude is just below its highest price since December 2014, supported by supply cuts
led by the Organization of the Petroleum Exporting Countries and concern that unrest in
producer nations such as Nigeria could further curb output.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures fell to a three-week low on Thursday on concerns that
demand could take a hit from a European Union move towards banning the use of palm oil
in biofuels.
    The benchmark palm oil contract for April delivery on the Bursa Malaysia
Derivatives Exchange was down 0.4 percent at 2,476 ringgit ($626.20) a tonne at the end
of the trading day, its third consecutive day of declines.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures rose on Thursday, snapping two days of losses, as
higher physical prices in Thailand and a drop in the yen against the dollar lent
support, dealers said.
    "Higher offer prices by producers in Thailand also supported the market," said
Toshitaka Tazawa, an analyst at commodities broker Fujitomi Co, noting that a reduction
in exports by top producers may be having an effect.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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