September 11, 2017 / 9:46 PM / 9 days ago

UPDATE 1-Asia Morning Call-Global Markets

    Sept 12 (Reuters) - - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,713.149      40.483      NZX 50**            7,851.75     0.220
 DJIA**          22,057.37      259.58      NIKKEI**            19,545.77    270.95
 Nasdaq**        6,432.264      72.072      FTSE**              7,413.59     35.99
 S&P 500**       2,488.11       26.68       Hang Seng**         27,955.13    286.66
 SPI 200 Fut     5,736          31.00       STI**               3,228.51     -0.05
 SSEC**          3,377.67       12.43       KOSPI**             2,359.08     15.36
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0              -0.001      KR 10 YR Bond       2.25         0.01
 AU 10 YR Bond   2.658          0.039       US 10 YR Bond       2.134        0.073
 NZ 10 YR Bond   2.845          0.03        US 30 YR Bond       2.7476       0.068
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3453         0.0047      KRW US$             1,129.27     -0.07
 AUD US$         0.8026         -0.0027     NZD US$             0.7253       0.0001
 EUR US$         1.1953         0.0002      Yen US$             109.38       -0.01
 THB US$         33.1           -0.01       PHP US$             50.943       0.024
 IDR US$         13,160         -40         INR US$             63.93        0.15
 MYR US$         4.195          0.003       TWD US$             30.026       0.02
 CNY US$         6.526          0.0481      HKD US$             7.8104       -0.0002
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,326.92       -19.39      Silver (Lon)        17.79        -0.134
 U.S. Gold Fut   1,331.7        -19.5       Brent Crude         53.88        0.1
 Iron Ore        CNY539.5       9.5         TRJCRB Index        181.6602     0.4855
 TOCOM Rubber    JPY228.5       2.1         LME Copper          6,747        54
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--  
    ** indicates closing price 
    All prices as of 21:23 GMT
        
    EQUITIES

    GLOBAL - A global equity index and the S&P 500 surged to record highs on Monday,
spurred by relief that Hurricane Irma weakened to a tropical storm and that North
Korea's anniversary celebrations on the weekend passed without a new missile test.
    Demand slipped for safe-haven assets as investors took on more risk after Irma
caused less damage than initially expected and North Korea marked its founding on
Saturday without new provocations.
    For a full report, click on
    
    - - - -
    
    NEW YORK - The S&P 500 surged over 1 percent to a record high close on
Monday as tropical storm Irma caused less damage than expected in Florida, and after
North Korea did not test-fire missiles over the weekend, which some had feared.
    All 11 major S&P 500 sectors rose, led by financial stocks, with insurers advancing
as Irma, once ranked as one of the most powerful hurricane recorded in the Atlantic,
lost power.
    For a full report, click on
    
    - - - -
    
    LONDON - European shares closed higher on Monday as insurers benefited from a drop
in the estimated cost of Hurricane Irma and investors breathed a sigh of relief that
North Korea celebrated its founding day without a major missile test.
    The pan-European STOXX 600 rose 1 percent. The insurance index
posted its best performance since April with a 2.1 percent jump after Irma, which
pounded heavily populated areas of central Florida over the weekend, gradually lost
strength and was downgraded to a tropical storm.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei rallied to a more than one-week high on Monday after the
dollar recovered against the yen, lifting recently battered exporters and financial
stocks which had stumbled amid the simmering tensions on the Korean peninsula.
    The Nikkei share average rose 1.4 percent to 19,545.77, its best closing
level since Sept. 1.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China stocks were steady on Monday, as investors cheered the
government's plan to look into banning petrol fuel cars while new central bank policies
apparently aimed at taming rapid gains in the yuan were also in focus.
    The blue-chip CSI300 index was unchanged at 3,825.65 points at close on
Monday, while the Shanghai Composite Index added 0.3 percent to 3,376.42
points.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are likely to open higher on Tuesday, taking cues
from an upbeat close on Wall Street in the previous session as investors took heart
from Hurricane Irma weakening to a tropical storm and North Korea not testing missiles
over the weekend. 
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korean shares strengthened to end at their highest in more than a
week on Monday as tech and chemical stocks climbed on hopes of firm earnings in the
third quarter.
    Receding jitters over geopolitical risks in the Korean Peninsula also appeared to
help the Korea Composite Stock Price Index (KOSPI) which closed up 0.7 percent
at 2,359.08 points.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The dollar edged higher on Monday on relief that Hurricane Irma weakened
to a tropical storm and North Korea did not conduct a nuclear test over the weekend as
feared.
    The dollar index, which tracks the greenback against a basket of six major
currencies, was 0.38 percent higher at 91.697.
    For a full report, click on

    - - - -
    
    SHANGHAI - China's yuan eased against the U.S. dollar on Monday and is set for its
worst day since early January, as market sentiment softened in the wake of a relaxation
of controls on capital outflows.
    China's onshore spot yuan opened at 6.5090 per dollar and settled at
6.5239 by the 4:30 p.m (0830 GMT) domestic close.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian and New Zealand dollars slipped from their peaks on
Monday as the greenback bounced from a multi-year trough after North Korea steered
clear of escalating tensions at its foundation day over the weekend.
    The Australian dollar fell from a 2-1/2 year peak of $0.8125 to $0.8046. 
    For a full report, click on
    
    - - - -
    
    SEOUL - The South Korean won extended its losses as the U.S. dollar
strengthened on global markets during the session on Monday.
    The won was quoted at 1,131.9 to the dollar at the end of onshore trade,
down 0.4 percent from Friday's close at 1,127.5.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasury yields rose on Monday after a generally quiet weekend
unmarred by negative news out of North Korea, with investors looking ahead to this
week's auction of government debt.
    U.S. long-dated yields, including those on two-year and three-year notes, climbed
to one-week peaks.
    For a full report, click on
    
    - - - -
    
    LONDON - Germany's benchmark 10-year bond yield pulled further away from recent 2
1/2-month lows on Monday, as unease about an unwinding of ECB stimulus and relief that
North Korea did not conduct another missile test at the weekend hurt safe-haven assets.
    European Central Bank policy will remain accommodative for longer than in previous
cases of demand shock, which is likely to limit any damage from the euro's
appreciation, ECB Executive Board member Benoit Coeure said on Monday.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bonds slipped on Monday, pulling yields away from
recent lows, as investors' risk aversion waned after the weekend passed without any
missile launches by North Korea and sapped some of the safe-haven appeal of
fixed-income assets.
    The 10-year cash JGB yield added 1 basis point to zero percent,
moving away from Friday's 10-month low of minus 0.015 percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices fell on Monday from the previous session's 13-month high as relief that
North Korea did not conduct a missile test over the weekend helped to lift global
stocks, the U.S. dollar and bond yields. 
    Spot gold was down 0.9 percent at $1,334.86 an ounce by 1353 GMT, on track
for its biggest one-day drop since July 7. On Friday it touched $1,357.54, the highest
since August last year.
    For a full report, click on
    
    - - - -
    
    IRON ORE

    Chinese iron ore futures fell to their weakest level in almost a month on Monday,
dropping for a fifth straight session along with steel prices as investors pared
positions in the two commodities although the outlook for demand remained bright.
    The losses were in line with a retreat in other China-traded commodities, with
rubber sliding nearly 3 percent and nickel down almost 4 percent.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Zinc and other base metal prices rebounded on Monday as investors and consumers
took advantage of a sell-off on Friday to buy at lower levels, with strong economic
data from top metals consumer China also supporting the market.
    Analysts warned, however, that prices still have the potential for a deeper
correction after the LME metals index rallied 21 percent between early June and
early September.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices rose on Monday as key U.S. refineries began restarts following Hurricane
Harvey, which may help revive crude oil processing, while fuel prices fell as Hurricane
Irma is likely to clip demand for gasoline and diesel.
    The possibility of an extension to the 15-month production pact between members of
the Organization of the Petroleum Exporting Countries and non-OPEC producers also
helped to support prices, traders said.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures jumped to their highest level since March in Monday's
session driven by a fall in production and higher exports that kept inventory numbers
lower than expected.
    The benchmark palm oil contract for November delivery on the Bursa
Malaysia Derivatives Exchange rose 1.5 percent to 2,802 ringgit ($667.94), the highest
since March 23. The futures contract scored an intra-day high of 2,815 ringgit.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures ended slightly higher on Monday, after hitting a
one-week low earlier in the session, as the market came under pressure from a steep
decline in Shanghai futures, brokers said.
    Tokyo Commodity Exchange (TOCOM) futures, which set the tone for tyre rubber prices
in Southeast Asia, got support from the dollar's recovery against the yen following
Friday's tumble after North Korea marked the anniversary of its founding without
resorting to any further missile or nuclear tests.
    For a full report, click on
    
    - - - -


 (Bengaluru Bureau; +91 80 6749 1130)

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