June 5, 2018 / 9:21 PM / 4 months ago

UPDATE 1-Asia Morning Call-Global Markets

    June 6 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,994.90       -30.60      NZX 50**            8,757.04     120.88
 DJIA**          24,799.98      -13.71      NIKKEI**            22,539.54    63.60
 Nasdaq**        7,637.863      31.40       FTSE**              7,686.8      -54.49
 S&P 500**       2,748.80       1.93        Hang Seng**         31,093.45    95.47
 SPI 200 Fut     6,010          10.00       STI**               3,483.16     15.68
 SSEC**          3,114.4062     23.22       KOSPI**             2,453.76     6.00
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.049          0           KR 10 YR Bond       2.716        -0.017
 AU 10 YR Bond   2.736          -0.007      US 10 YR Bond       2.9259       -0.011
 NZ 10 YR Bond   2.805          -0.005      US 30 YR Bond       3.0816       -0.001
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3349         -0.0017     KRW US$             1,070.65     -0.3
 AUD US$         0.76170        0.00010     NZD US$             0.7022       -0.0001
 EUR US$         1.1715         -0.0002     Yen US$             109.82       0.04
 THB US$         31.93          0.01        PHP US$             52.349       -0.002
 IDR US$         13,874         7           INR US$             67.09        0.03
 MYR US$         3.97           0           TWD US$             29.815       -0.005
 CNY US$         6.4008         -0.0008     HKD US$             7.847        0
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,295.73       4.15        Silver (Lon)        16.461       0.097
 U.S. Gold Fut   1,300.4        3.1         Brent Crude         75.07        -0.22
 Iron Ore        CNY471.5       10          TRJCRB Index        -            -
 TOCOM Rubber    JPY187.5       0.3         LME Copper          7,117        142
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    ** indicates closing price 
    All prices as of 21:08 GMT
    
    EQUITIES

    GLOBAL -  U.S. stocks mostly edged higher on Tuesday as technology shares extended
recent gains while U.S. Treasury yields fell on safe-haven buying after Italy's new
prime minister outlined new economic policies that could add to the nation's debt.
    The so-called FAANG stocks — Facebook, Amazon, Apple,
Netflix and Alphabet - rose. The S&P technology index
gained 0.4 percent, while the Nasdaq hit a record intraday high..
    For a full report, click on
    
    - - - -
    
    NEW YORK - The Nasdaq closed at a record high for the second day in a row with help
from the technology and consumer discretionary sectors, while the S&P 500 edged higher
as investors eyed solid U.S. economic data.
    However, bank stocks declined along with U.S. Treasury yields, and investors
appeared to favor bonds over defensive equity sectors such as utilities and consumer
staples.
    For a full report, click on
    
    - - - -
    
    LONDON - A buoyant European tech sector, which hit a 17-year peak on Tuesday, was
not enough to lift the broader European market as jitters over politics in the
periphery persisted.
    The pan-European STOXX 600 gave up gains to end the session with a 0.3
percent loss, weighed down by weaker banking stocks, and bringing two sessions of
straight gains to an end.
    For a full report, click on

    - - - -
    
    TOKYO - A recovery in Japanese shares ran out of steam on Tuesday as the Nikkei
average faced stiff resistance at its 25-day average, but sentiment was underpinned by
stellar U.S. jobs data last week and a weakening yen.
    The Nikkei share average closed 0.3 percent higher at 22,539.54 points,
after failing to sustain gains above its 25-day average of 22,562. The benchmark has
bounced since it hit a six-week low of 21,932 a week ago.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China stocks firmed on Tuesday, after a private survey showed the
services sector expanded at a steady pace in May, while pharmaceutical sector gained
the most.
    The blue-chip CSI300 index rose 1.0 percent to 3,845.32, while the
Shanghai Composite Index ended up 0.7 percent at 3,114.21.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australia shares are likely to edge higher on Wednesday, as overnight
gains in Wall Street and rising iron ore prices may whet investor appetite.
    The local share price index futures climbed 0.2 percent, a 15.1-point
premium to the underlying S&P/ASX 200 index close. The benchmark shed half a
percent on Tuesday.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's KOSPI stock index rose on Tuesday, shrugging off a
weak start as foreign investors returned with appetite for risky assets. 
    The KOSPI ended up 6.00 points or 0.25 percent at 2,453.76.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The dollar fell on Tuesday, reversing gains to a near six-month high, as
the euro rallied after Italian Prime Minister Giuseppe Conte said the government had
never considered leaving the euro zone.
    The euro rose 0.1 percent against the dollar to $1.1712, which pushed the
dollar index, also 0.1 percent lower to 93.894.
    For a full report, click on

    - - - -
    
    SHANGHAI - China's yuan slipped on Tuesday amid rising corporate demand for
dollars, and a growing number of analysts are predicting further weakness if upbeat
U.S. economic data keeps the greenback on a firm path.
    While the dollar index eased overnight, market watchers believe it will be
supported by expectations of a Federal Reserve rate hike next week and possibly two
more hikes by year-end.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian dollar hovered near six-week highs as the country's
central bank sounded upbeat about future economic growth, while the New Zealand
currency held near a one-month peak.
    The Australian dollar was last at $0.7633, down 0.2 percent on the day and
within striking distance of Monday's $0.7665, a level not seen since April 23.
    For a full report, click on
    
    - - - -
    
    SEOUL -  The Korean won gained on Tuesday while bond yields fell.
    The won was quoted at 1,070.7 per dollar on the onshore settlement platform
, 0.11 percent firmer than its previous close at 1,071.9.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasury yields fell on Tuesday as traders piled back into
lower-risk government debt after Italy's new prime minister vowed to enact economic
policies that could balloon the nation's already-heavy debt load.
    Traders lightened their Italian bonds in favor of Treasuries and German Bunds as
Italian Prime Minister Giuseppe Conte's pledge for tax cuts and more welfare spending
overshadowed encouraging business data on Italy and Spain, the euro zone's third- and
fourth-largest economies.
    For a full report, click on
    
    - - - -
    
    LONDON - Italy's government bonds sold off on Tuesday, facing renewed pressure
after new Prime Minister Guiseppe Conte promised to bring radical change as he sought
parliamentary backing for an anti-establishment government.
    Conte's remarks echoed much of the policy programme set out in a coalition accord
signed by the 5-Star Movement and the right-wing League - an agenda of tax cuts and
higher welfare spending. 
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bond prices were little changed on Tuesday after an
auction of 2.2 trillion yen ($20 billion) 10-year government bonds drew a decent size
of bids, underpinning solid demand at current levels.
    The auction drew bids 4.38 times the offer, higher than the bid-to-cover of 4.20 in
the previous auction, while the lowest accepted price was in line with market
expectations at 100.49.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices increased on Tuesday as the dollar retreated slightly from close to a
six-month high even as strong U.S. economic data sealed the case for the U.S. Federal
Reserve to increase interest rates.
    Spot gold gained 0.5 percent at $1,298.45 per ounce by 1:32 p.m. EDT (1732
GMT).
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    China's Dalian iron ore futures rose on Tuesday on concerns of tight supplies after
a report said Tangshan city plans to shut hundreds of mining companies, while mounting
stockpiles at ports limited gains.
    Tangshan, the country's No.1 steelmaking city in Hebei province, said it will close
226 mining firms - half iron ore miners - that do not have legitimate licenses as part
of efforts to curb illegal mining and cut pollution. 
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
     Copper hit a six-week high on Tuesday as concerns about the potential supply
impact of wage negotiations at the world's biggest copper mine helped push prices back
above $7,000 a tonne.
    The union at BHP's, Escondida facility in Chile said on Friday
that it had started the latest round of negotiations with a proposal which includes a
bonus of about $34,000 per worker.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Brent crude reversed losses on Tuesday, after hitting its lowest price in nearly a
month following a report that the U.S. government asked Saudi Arabia and other major
exporters to increase oil output.
    Brent crude futures rose 9 cents to settle at $75.38 a barrel, a 0.12
percent gain. It touched a low of $73.81, its lowest since May 8.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures extended declines on Tuesday to hit their lowest in
nearly a month, weighed down by lacklustre export demand, but they trimmed losses in
the second half of the trading session on reports India will raise an import tax on
soft oils.
    The palm oil contract for August delivery on the Bursa Malaysia
Derivatives Exchange was down 0.37 percent at 2,400 ringgit ($604.53) a tonne by the
close. Earlier in the session, the contract hit 2,382 ringgit, its lowest since May 8.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures slid to a five-week low on Tuesday as a drop in
Shanghai futures prompted fresh selling and amid worries about lower demand for tyre
due to U.S. President Donald Trump's threat to impose tariffs on auto imports.
    Tokyo Commodity Exchange (TOCOM) futures, which set the tone for rubber prices in
Southeast Asia, are under pressure on anticipation that tyre demand in Japan will
shrink if Trump slaps new import duties, said Toshitaka Tazawa, an analyst at
commodities broker Fujitomi Co.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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