May 13, 2018 / 9:48 PM / in 2 months

UPDATE 1-Asia Morning Call-Global Markets

    May 14 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   6,116.200      -2.5        NZX 50**            8,676.69     38.97
 DJIA**          24,831.17      91.64       NIKKEI**            0            0.00
 Nasdaq**        7,402.883      -2.092      FTSE**              7,724.55     23.58
 S&P 500**       2,727.72       4.65        Hang Seng**         31,122.06    312.84
 SPI 200 Fut     6,100          4.00        STI**               3,570.17     32.58
 SSEC**          3,163.2632     -11.1495    KOSPI**             2,477.71     13.55
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.043          -0.003      KR 10 YR Bond       2.785        0
 AU 10 YR Bond   2.778          -0.014      US 10 YR Bond       2.9695       0
 NZ 10 YR Bond   2.745          -0.01       US 30 YR Bond       3.1017       0
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3362         -0.0009     KRW US$             1,066.76     -0.13
 AUD US$         0.7544         0           NZD US$             0.6955       -0.0011
 EUR US$         1.19451        0.00031     Yen US$             109.33       -0.05
 THB US$         31.910         0           PHP US$             52.42        0.025
 IDR US$         13,945         -125        INR US$             67.355       0.1150
 MYR US$         3.948          0.00        TWD US$             29.773       -0.099
 CNY US$         6.3323         -0.0137     HKD US$             7.8494       0
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,317.6801     -3.3299     Silver (Lon)        16.62        -0.049
 U.S. Gold Fut   1,321          -2          Brent Crude         77.12        -0.35
 Iron Ore        CNY484         6.5         TRJCRB Index        -            -
 TOCOM Rubber    JPY192.3       -1.1        LME Copper          6,942.0      25.0
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    ** indicates closing price 
    All prices as of 21:28 GMT
    
    EQUITIES

    GLOBAL - The U.S. dollar eased on Friday while an index of global stock performance
gained and was poised for its best week since early March, as moderate inflation eased
worries about a faster pace of U.S. interest rate hikes and boosted risk appetite.
    MSCI's gauge of stock markets across the globe rose 0.42 percent to
advance 2.1 percent for the week, its best weekly gain since early March.
    For a full report, click on
    
    - - - -
    
    NEW YORK - The S&P 500 rose on Friday, helped by healthcare stocks after President
Donald Trump blasted high drug prices but avoided taking aggressive measures to cut
them.
    The Dow Jones Industrial Average rose 0.37 percent to end at 24,831.17
points, while the S&P 500 gained 0.17 percent to 2,727.72, its highest close
since mid-March. The Nasdaq Composite slipped 0.03 percent to 7,402.88.
    For a full report, click on
    
    - - - -
    
    LONDON - European stocks achieved their longest weekly winning streak for more than
three years on Friday as M&A activity added to an advance on the back of a busy
earnings season.
    Shares traded in a narrow range, with the pan-European STOXX 600 index
ending up 0.1 percent, scoring its seventh straight week of gains and the longest
winning streak since March 2015. Germany's DAX fell 0.2 percent while
Britain's FTSE 100 added 0.3 percent.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei share average rose to a three-month high on Friday, buoyed
by tepid U.S. inflation data easing concerns over the Federal Reserve hiking rates at
an accelerated pace, as well on gains for several companies posting solid earnings.
    The Nikkei closed the day up 1.16 percent at 22,758.48 after brushing
22,769.16, its highest since Feb. 5. The index gained 1.3 percent this week.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China stocks fell on Friday, but posted their best weekly performance in
almost three months, as interest towards Chinese blue-chips has been steadily building
ahead of MSCI's A-share inclusion next month.
    The blue-chip CSI300 index fell 0.5 percent to 3,872.84, while the
Shanghai Composite Index lost 0.4 percent to 3,163.26.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are expected to edge up on Monday, with miners buoyed
by strong iron ore prices, while weak oil prices are likely to pressure energy stocks.
    The share price index futures rose 4 points to 6,100, a 16.2 point
discount to the underlying S&P/ASX 200 index close.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's KOSPI stock index ended higher as soft U.S. inflation
saw the dollar easing in global markets.
    At 06:32 GMT, the KOSPI was up 13.53 points or 0.55 percent at 2,477.69. The
benchmark stock index rose 0.7 percent on a weekly basis.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The dollar fell for a third day on Friday against a basket of currencies
as traders booked gains on its recent run-up spurred by the widening interest rate gaps
in favor of the United States and signs of cooling growth in the rest of the world.
    An index that tracks the dollar versus six currencies rose initially before
selling re-emerged. It was down 0.15 percent at 92.603, below its strongest level of
the year at 93.416 on Wednesday.
 
    For a full report, click on

    - - - -
    
    CHINA -  China's yuan inched up against the U.S. dollar on Friday after the central
bank set the midpoint at a one-week high, keeping it on course for its first week of
gains in four.
    The spot market opened at 6.3372 per dollar and was changing hands at
6.3450 at midday, 10 pips firmer than the previous late session close and 0.12 percent
stronger than the midpoint.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA -  The Australian and New Zealand dollars held well above recent
multi-month lows on Friday as the greenback eased after softer-than-expected U.S.
inflation tempered expectations of aggressive policy tightening by the Federal Reserve.
    The Australian dollar was last at $0.7533, above a more than 11-month
trough of $0.7413 hit on Wednesday. The Aussie is seen ending this week mostly flat
after three straight weeks of losses.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's won ended higher as soft U.S. inflation saw the dollar easing
in global markets.
    In offshore trading, the won was quoted at 1,068.28 per U.S. dollar, down
0.34 percent from the previous day, 
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - The Treasury yield curve on Friday was the flattest it had been since
July 2007 as shorter-dated yields rose on expectations the Federal Reserve would hike
U.S. interest rates in spite of weaker-than-expected economic data this week.
    The spread between the five-year and 30-year bond yields reached a
session low of 26.2 basis points, its narrowest since before the financial crisis in
2007. The spread between two- and 10-year note yields bottomed out at
41.0 basis points, the lowest since September 2007.
    For a full report, click on
    
    - - - -
    
    LONDON - Investors bought up Italian government bonds on Friday, taking advantage
of this week's sharp rise in yields and soothed by some moderate comments from the
anti-establishment parties that look likely to form Italy's next government.
    Italian 10-year yields were set for their biggest weekly rise since
February, although they were down 5 basis points on Friday at 1.88 percent.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bonds barely budged on Friday, but the yield on 20-year
bonds rose slightly after the Bank of Japan's buying in that maturity drew sizable
selling interest.
    The 10-year JGB yield was flat at 0.045 percent, while the 20-year
JGB yield rose 0.5 basis point to 0.525 percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold was flat on Friday, headed for its first weekly gain in four weeks, as the
dollar weakened and investors grew a bit less confident about prospects that the
Federal Reserve would raise interest rates three more times in 2018.
    Spot gold was unchanged at $1,321 per ounce by 1:43 p.m. EDT (1743 GMT).
During the session it touched its highest since April 25 at $1,325.96, nudging its
100-day moving average of $1,326. It was up 0.5 percent for the week so far.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    China's iron and steel prices rose on Friday amid growing optimism about demand as
inventories of metal continued to fall and buying from the real estate market
strengthened, while coke rallied as investors braced for output cuts in Jiangsu
province.
    The most-active construction rebar futures on the Shanghai Futures Exchange
 ended up 2.28 percent at 3,675 yuan ($580.32) a tonne.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Aluminium fell to its lowest in a week on Friday and ended the week in negative
territory as the market corrected after a recent price surge on U.S. sanctions against
the world's largest producer and its major shareholder.
    Benchmark aluminium on the London Metal Exchange slipped 2 percent to
$2,288 a tonne, its lowest since May 3. The price in the light metal rallied to a
nine-year high last month.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Crude prices fell in a see-saw session on Friday, retreating after early gains as
it looked likely that U.S. allies would push to maintain a deal with Iran, which could
keep that country's crude exports on global markets.
    Brent crude settled down 35 cents at $77.12 a barrel, just below the
$78-level hit on Thursday, its highest since November 2014. The benchmark contract
remained lower in post-settlement trade.
    For a full report, click on
    
    - - - -
    
    
    Benchmark Tokyo rubber futures edged higher on Friday, helped by a temporary rise
in Shanghai futures and short-covering ahead of the weekend, dealers said.
    The Tokyo Commodity Exchange (TOCOM) rubber contract for October delivery,
 finished 0.5 yen higher at 193.4 yen ($1.77) per kg. For the week, it rose
0.7 percent.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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