May 21, 2018 / 9:35 PM / 3 months ago

UPDATE 1-Asia Morning Call-Global Markets

    May 22 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   6,084.5        -2.90       NZX 50**            8,615.72     -41.61
 DJIA**          25,013.29      298.20      NIKKEI**            23,002.37    72.01
 Nasdaq**        7,394.036      39.697      FTSE**              7,859.17     80.38
 S&P 500**       2,733.01       20.04       Hang Seng**         31,234.35    186.44
 SPI 200 Fut     6,080          -13.00      STI**               3,548.23     18.96
 SSEC**          3,214.361      21.06       KOSPI**             2,465.57     4.92
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.055          -0.003      KR 10 YR Bond       2.769        -0.003
 AU 10 YR Bond   2.89           0           US 10 YR Bond       3.0578       -0.009
 NZ 10 YR Bond   2.85           0           US 30 YR Bond       3.2007       -0.008
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3396         0           KRW US$             1,076.27     -0.28
 AUD US$         0.7581         0           NZD US$             0.6945       0.0001
 EUR US$         1.1789         -0.0001     Yen US$             111.03       -0.01
 THB US$         32.13          -0.01       PHP US$             52.297       0.018
 IDR US$         14,180         30          INR US$             68.11        0.125
 MYR US$         3.978          0.008       TWD US$             29.992       0.08
 CNY US$         6.3809         0.0047      HKD US$             7.8482       -0.0004
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,292.29       0.79        Silver (Lon)        16.48        0.06
 U.S. Gold Fut   1,292          0.7         Brent Crude         79.51        1
 Iron Ore        CNY466         -1.5        TRJCRB Index        -            -
 TOCOM Rubber    JPY200.3       0.3         LME Copper          6,898        43
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--  
    ** indicates closing price 
    All prices as of 21:17 GMT
    
    EQUITIES

    GLOBAL - Global stock markets rallied broadly on Monday after the United States and
China agreed to halt a trade war, while oil hit multi-year highs on political
uncertainty and potential sanctions on Venezuela.
    The U.S. trade battle with China was put "on hold" after the world's two largest
economies agreed to drop their tariff threats in favor of hashing out a broader deal,
U.S. Treasury Secretary Steven Mnuchin said on Sunday.
    For a full report, click on
    
    - - - -
    
    NEW YORK - U.S. stocks rose on Monday and gains in industrials helped propel the
Dow to a more than two-month closing high, after a truce between the United States and
China calmed fears that a trade war might be imminent.
    U.S. Treasury Secretary Steven Mnuchin's comments over the weekend that the two
countries had put the prospect of a trade war "on hold" and agreed to hold more talks
to boost U.S. exports to China boosted stocks at the opening, with the Dow Jones
Industrial Average leading the charge higher.
    For a full report, click on
    
    - - - -
    
    LONDON - European shares rose on Monday as easing trade war worries lifted the
dollar, supporting exporters, while Italian stocks came under renewed pressure as
markets awaited developments in the creation of a new government.
    The pan-European STOXX 600 index closed up 0.3 percent, holding at its
highest level since the beginning of February, while the FTSE 100 hit a new
record high, up 1 percent as strength in the dollar supported the
internationally-exposed index.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei share average rose on Monday as the dollars' rise against
the yen supported some exporters after news of easing U.S.-China trade tensions, but
weakness in financial stocks kept wider gains limited.
    The Nikkei ended 0.3 percent higher at 23,002.37, after the dollar rose 0.5
percent to 111.245 yen, hitting a fresh four-month high in Asian trade.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China stocks extended gains to end higher on Monday, as trade tensions
eased after U.S. Treasury Secretary Steven Mnuchin said their trade war with China was
put "on hold".
    The blue-chip CSI300 index ended up 0.5 percent at 3,921.24 points, while
the Shanghai Composite Index closed 0.6 percent higher at 3,213.84 points.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are seen inching up on Tuesday, following Wall Street
which climbed as a truce between the United States and China calmed fears of a
potential trade war, while Aussie miners are expected to be pressured by weak iron ore
prices.
     China's Dalian iron ore futures fell more than 3 percent on Monday due to
technical selling and growing concerns that steel mills in the world's top producer may
delay orders.    
    The local share price index futures fell 0.21 percent or 13 points to
6,080 , a 4.5-point discount to the underlying S&P/ASX 200 index close. The
benchmark  declined 0.1 percent on Friday.
    For a full report, click on
    
    - - - -
    
    SEOUL -  South Korea's KOSPI stock index ended higher on Monday. The Korean
won tumbled to its weakest closing low since early February, while bond yields rose.
    At 0632 GMT, the KOSPI was up 4.92 points or 0.20 percent at 2,465.57.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The dollar advanced to a five-month high against a basket of currencies
on Monday, as news of a truce between the United States and China on trade tariffs
prompted investors to pare back short positions on the greenback.
    Investors have been short the dollar since July of last year, but the dollar index
 has rallied nearly 7 percent since mid-February. The dollar has been mainly
bolstered by generally solid U.S. economic data that has backed the Federal Reserve's
monetary policy tightening stance this year.
    For a full report, click on

    - - - -
    
    SHANGHAI - China's yuan fell to a nearly four-month low against the U.S. dollar at
the official close of domestic trading on Monday afternoon, dragged lower by an
extended rally in the greenback.
    Losses in the yuan was reacting to rally in the dollar, which hit a fresh
five-month high after U.S. Treasury Secretary Steven Mnuchin said trade war with China
is "on hold".
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The New Zealand dollar slipped on Monday after data showing
slower-than-expected retail sales cast a shadow over the pace of broader economic
growth, while the Australian currency hovered close to key chart resistance.
    In Australia, the Aussie held at $0.7516, remaining largely in a holding
pattern it has found itself in lately. The currency was nudging towards chart
resistance of $0.7540, a breach above could take it beyond $0.7600.
    For a full report, click on
    
    - - - -
    
    SEOUL - The won was quoted at 1,085.4 per dollar on the onshore settlement platform
, 0.72 percent weaker than its previous close at 1,077.6. The currency
extended losses later in the session as greenback continued to hold strong in the
global markets.
    In offshore trading, the won was quoted at 1,084.19 per U.S. dollar, down
0.34 percent from the previous day, while in one-year non-deliverable forwards
 it was being asked at 1,068.25 per dollar.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasuries were steady on Monday as investors evaluated whether
last week’s selloff that sent benchmark yields to almost 7-year highs was overdone, and
before demand for U.S. debt will be tested by new supply.
    The Treasury will sell $99 billion in short and intermediate-dated notes this week,
including $33 billion in two-year notes on Tuesday, $36 billion in five-year notes on
Wednesday and $30 billion in seven-year notes on Thursday..
    For a full report, click on
    
    - - - -
    
    LONDON - Italy's borrowing costs surged further on Monday and its stock market
touched six-week lows as two anti-establishment parties that plan to ramp up spending
appeared set to form a coalition government.
    Italian two-year bond yields jumped more than 10 basis points to 0.23 percent
, their highest since December 2016, before pulling back in afternoon trade
to 0.17 percent. A week ago, that yield was at minus 0.11 percent.
    For a full report, click on
    
    - - - -
    
    TOKYO - The price of 20-year Japanese government bonds firmed on Monday as some
traders bought the maturities in expectations of healthy demand at an auction the
following day.
    The 20-year JGB yield fell 0.5 basis point to 0.535 percent, while
the 30-year JGB yield fell 0.5 basis point to 0.755 percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD
    Gold on Monday marked a new low for the year to date after U.S. Treasury Secretary
Steven Mnuchin's declaration that a trade war between China and the United States was
"on hold" helped boost appetite for higher-risk assets, such as stocks.
    Buoyancy in U.S. Treasury yields also weighed on appetite for non-interest-bearing
assets, like bullion, analysts said. 
    For a full report, click on
    
    - - - -
    
    IRON ORE
    China's Dalian iron ore futures fell more than 3 percent on Monday to their weakest
level in two weeks due to technical selling and growing concerns that steel mills in
the world's top producer may delay orders amid uncertainty about metal demand.
    Declining for a fourth straight session, the most-active iron ore futures on the
Dalian Commodity Exchange fell as much as 3.8 percent to 462 yuan ($72.29) a
tonne in early deals, their lowest since May 7.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    Copper rose to a one-week high on Monday as fears over a U.S.-China trade war
eased, countering the impact of a rising dollar, while nickel came under pressure from
falling ferrous metals prices in China.
    Three-month copper on the London Metal Exchange ended up 0.4 percent at
$6,879 a tonne, having hit a one-week high of $6,923.
    For a full report, click on
    
    - - - -
    
    OIL
    U.S. crude hit its highest level since 2014 on Monday amid rising concerns that
Venezuela's oil output could fall further following the country's presidential election
and potential sanctions on the OPEC-member nation.
    Prices firmed further as U.S. President Donald Trump had discussions with Russia
and China about issuing new debt to Venezuela. Trump signed an executive order on
Monday restricting Venezuela's ability to liquidate state assets, a senior
administration official told reporters.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    Malaysian palm oil futures declined on Monday evening, snapping two sessions of
gains, weighed down by weaker export data from a cargo surveyor and an inspection
company.
    The benchmark palm oil contract for August delivery on the Bursa Malaysia
Derivatives Exchange fell 0.2 percent to 2,446 ringgit ($614.88) a tonne at the close.
    For a full report, click on
    
    - - - -
    
    RUBBER
    Benchmark Tokyo rubber futures ended 3.1 percent higher on Monday, getting support
from a jump in Shanghai counterparts after China agreed to significantly increase its
purchases of U.S. goods and services, easing trade tensions.
    The Tokyo Commodity Exchange rubber contract for October delivery,
 finished 6.1 yen higher at 200 yen ($1.80) per kg after hitting 200.6 yen
earlier, the highest since Jan. 29.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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