March 25, 2018 / 9:21 PM / 4 months ago

UPDATE 1-Asia Morning Call-Global Markets

    March 26 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,820.7        -116.5      NZX 50**            8,469.57     -45.79
 DJIA**          23,533.2       -424.69     NIKKEI**            20,617.86    974.13
 Nasdaq**        6,992.666      -174.011    FTSE**              6,921.94     -30.65
 S&P 500**       2,588.26       -55.43      Hang Seng**         30,309.29    -761.76
 SPI 200 Fut     5,743          -51.00      STI**               3,421.39     -69.98
 SSEC**          3,153.0866     -110.39     KOSPI**             2,416        -79.26
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.019          -0.004      KR 10 YR Bond       2.65         0.002
 AU 10 YR Bond   2.672          0.016       US 10 YR Bond       2.8135       0
 NZ 10 YR Bond   2.785          -0.05       US 30 YR Bond       3.0624       0
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3152         0.0015      KRW US$             1,082.71     -0.16
 AUD US$         0.7698         0.0002      NZD US$             0.724        0.0007
 EUR US$         1.2354         0.0003      Yen US$             104.7        -0.02
 THB US$         31.17          -0.01       PHP US$             52.365       -0.054
 IDR US$         13,780         30          INR US$             64.98        -0.12
 MYR US$         3.915          0.003       TWD US$             29.17        0.017
 CNY US$         6.3135         -0.02       HKD US$             7.8458       0.0021
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,346.76       18.18       Silver (Lon)        16.52        0.16
 U.S. Gold Fut   1,349.9        23          Brent Crude         70.45        1.54
 Iron Ore        CNY439         -8.5        TRJCRB Index        -            -
 TOCOM Rubber    JPY174.6       0.1         LME Copper          6,649        -46
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--  
    ** indicates closing price 
    All prices as of 21:18 GMT
    
    EQUITIES

    GLOBAL - 
    The threat of a trade war sent world stock markets broadly lower in choppy trading
on Friday and boosted safer assets like the yen and government bonds, a day after U.S.
President Donald Trump announced tariffs on up to $60 billion of Chinese goods.
    Trump signed a presidential memorandum on Thursday that could impose tariffs on up
to $60 billion of imports from China, although the measures have a 30-day consultation
period before they take effect. 
    For a full report, click on
    
    - - - -
    
    NEW YORK -  
    Wall Street tumbled on Friday with more than 1,000 points knocked off the Dow in
two days as investors, increasingly nervous about a potential U.S. trade war with
China, shied away from risk ahead of the weekend and sought shelter from further
losses.
    In a volatile session, the S&P 500 came within a hair of its 200-day moving
average, a key technical level. The benchmark index also nudged closer to its February
low, which marked a correction, ending 9.9 percent lower than its Jan. 26 record.
    For a full report, click on
    
    - - - -
    
    LONDON -  
    European shares fell on Friday, with autos and basic resources stocks bearing the
brunt of a wide sell-off triggered by mounting worries that U.S. tariffs on up to $60
billion of imports from China could escalate.
    Most sectors were trading in negative territory, sending the pan-regional STOXX 600
 benchmark index falling for a third day, down 0.9 percent to its lowest level
since February 2017.
    For a full report, click on

    - - - -
    
    TOKYO - 
    Japan's Nikkei share average tumbled on Friday to its lowest level in more than
five months as concerns over escalating global trade tensions triggered a spike in the
yen, with machinery makers hit particularly hard.
    Japan's benchmark Nikkei ended 4.5 percent lower at 20,617.86, its biggest
daily percentage drop since early February and its lowest closing level since Oct. 3.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - 
    Fears of a trade war between the world's two largest economies jolted China's
markets on Friday, with the country's main stock indexes tumbling the most in six
weeks, while bond yields fell as investors rushed into less risky assets.
    The Shanghai Composite index closed down 3.6 percent at 3,152.76 points,
its lowest close since Feb 9.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - 
    Australian shares are set to tumble on Monday, tracking a slump in U.S. stocks, as
fears about a potential U.S. trade war with China rattled investors. 
    The local share price index futures fell 0.9 percent or 51 points to
5,743, a 77.7-point discount to the underlying S&P/ASX 200 index close. The
benchmark fell about 2 percent on Friday.
    For a full report, click on
    
    - - - -
    
    SEOUL -  
    South Korean shares dropped by the most in about six years on Friday, amid mounting
fears of a global trade war after Beijing unveiled plans for tariffs on U.S. imports in
retaliation to protectionist measures by the United States.
    The Korea Composite Stock Price Index (KOSPI) closed down 3.2 percent at
2,416.76 points, lowest since March 7. It was also the biggest daily percentage loss
since May 2012.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - 
    The U.S. dollar hovered near a one-month low against a basket of major currencies
on Friday and was on course for its biggest weekly drop in five as investors worried
that escalating trade tensions could hurt global growth.
    The dollar index, which measures the greenback against a basket of six other
major currencies, was down 0.48 percent at 89.427. For the week, the index was down 0.9
percent.
    For a full report, click on

    - - - -
    
    SHANGHAI -  
    Fears of a trade war between the world's two largest economies jolted China's
markets on Friday, with the country's main stock indexes tumbling the most in six
weeks, while bond yields fell as investors rushed into less risky assets.
    Trade in the yuan was quiet on Friday, weakening in the morning session
before rising just 27 pips against the U.S. dollar to 6.2361 by 0718 GMT.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - 
    The Australian and New Zealand dollars stumbled to near 1-1/2 year lows against the
Japanese yen as investors pulled away from risk amid fears a global trade war is
looming and turmoil in the White House.
    The Australian dollar fell to 80.50 yen, its lowest since November 2016. It slid
1.6 percent overnight for its biggest single day percentage loss since May 2017.

    For a full report, click on
    
    - - - -
    
    SEOUL - 
    South Korean shares dropped by the most in about six years on Friday, amid mounting
fears of a global trade war after Beijing unveiled plans for tariffs on U.S. imports in
retaliation to protectionist measures by the United States.
    The won also fell to a more than three-week closing low of 1,082.2 to
the dollar at the conclusion of onshore trade. It was down 0.9 percent compared to
Thursday's close of 1,072.7.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK -  
    U.S. Treasury yields rose from six-week lows on Friday in choppy trading as
concerns about a global trade war after President Donald Trump announced tariffs on
Chinese goods kept investors on edge.
    Benchmark 10-year notes fell 3/32 in price to yield 2.843 percent, after
falling to a six-week low of 2.792 percent overnight.
    For a full report, click on
    
    - - - -
    
    LONDON - 
    Spanish government bond yields were at their lowest in over a year ahead of a
potential ratings upgrade later on Friday that would take Spain's credit rating firmly
into single A territory and further ahead of its peripheral peers.
    S&P Global is set to review its rating on Spain after the market close, and
analysts expect an upgrade from BBB+ to A-, after a similar move from Fitch earlier
this year.
    The Spanish/Italian 10-year bond yield spread was at 61 bps, which is historically
high, even if it is not quite as wide as it was earlier this year.,

    For a full report, click on
    
    - - - -
    
    TOKYO - 
    Japanese government bonds (JGBs) pushed higher on Friday as worries over rising
global trade tensions triggered a slide in equities and sparked flight-to-safety buying
of government debt.
    The key June 10-year JGB futures contract rose 0.13 point to 151.03, with
trading volume of 17,309 lots.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices surged to a one-month high on Friday as the threat of a global trade
war sent investors scrambling for safe assets.
    Spot gold gained 1.6 percent at $1,349.56 per ounce by 1:33 p.m. ET (1733
GMT), having hit its highest since Feb. 19 at $1,350.20.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese steel futures on Friday posted their biggest daily loss since the launch of
the contract amid worries over the escalating trade tensions between the United States
and China and weak demand for the metal.
    The most active rebar on the Shanghai Futures Exchange hit a downward
limit of 7 percent at 3,369 yuan a tonne, the lowest since July 11, 2017, and posting
the biggest daily loss since the launch of the contract in April 2009.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Base metals hit multi-month lows on Friday as the threat of a global trade war
escalated after U.S. President Donald Trump announced tariffs on up to $60 billion of
Chinese goods.
    London Metal Exchange copper ended down 0.5 percent at $6,660 a tonne,
having plumbed its weakest since mid-December at $6,623.50. Prices extended falls from
the previous session, breaking the 200-day moving average for the first time in around
18 months.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Crude prices rose on Friday, hitting their highest since late January after the
Saudi energy minister said OPEC and allied producers would need to keep coordinating
supply cuts into 2019, and as concerns grew over the future of Iranian crude exports.
    Brent crude futures jumped $1.54, or 2.2 percent, to settle at $70.45 a
barrel. For the week, Brent was up about 6.4 percent, its strongest weekly rise since
July.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures closed down nearly 1 percent on Friday due to a rise in
production and disappointment with the government's decision to resume taxing exports
of the edible oil.
    The benchmark palm oil contract for June delivery on the Bursa Malaysia
Derivatives Exchange fell 0.9 percent to 2,426 ringgit ($619.67) per tonne at the end
of trading, snapping a four-session rise this week.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures fell to a 17-month low and ended down nearly 7
percent on Friday, pressured by the yen's surge and a plunge in Shanghai futures as
mounting trade tensions between the world's two largest economies unnerved China's
equity, bond and commodity markets.
    Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in
Southeast Asia, opened sharply lower and the declines accelerated after Shanghai
futures plunged about 7 percent shortly after the open.
    The Tokyo Commodity Exchange rubber contract for August delivery,
finished 12.8 yen, or 6.8 percent, lower at 174.5 yen ($1.67) per kg after plunging to
174.4 yen earlier, the lowest since Oct. 21, 2016.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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