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UPDATE 1-Asia Morning Call-Global Markets
October 25, 2017 / 10:24 PM / a month ago

UPDATE 1-Asia Morning Call-Global Markets

    Oct 26 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,905.597      7.987       NZX 50**            8,116.950    -5.72
 DJIA**          23,329.46      -112.30     NIKKEI**            21,707.62    -97.55
 Nasdaq**        6,563.891      -34.539     FTSE**              7,447.21     -79.33
 S&P 500**       2,557.15       -11.98      Hang Seng**         28,302.89    147.92
 SPI 200 Fut     5,878.0        -11         STI**               3,343.88     9.21
 SSEC**          3,398.3041     10.06       KOSPI**             2,492.50     2.01
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.069          -0.001      KR 10 YR Bond       2.503        0.047
 AU 10 YR Bond   2.806          0.032       US 10 YR Bond       2.4353       0.029
 NZ 10 YR Bond   3.04           0.01        US 30 YR Bond       2.9445       0.021
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3605         -0.0018     KRW US$             1,126.65     -0.16
 AUD US$         0.7706         0.0002      NZD US$             0.689        0.0005
 EUR US$         1.1813         0.0001      Yen US$             113.7        -0.03
 THB US$         33.18          0           PHP US$             51.695       -0.031
 IDR US$         13,575         45          INR US$             64.92        -0.16
 MYR US$         4.234          0.002       TWD US$             30.266       -0.004
 CNY US$         6.64           0.0015      HKD US$             7.8026       -0.0015
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,277.01       0.68        Silver (Lon)        16.91        -0.03
 U.S. Gold Fut   1,278.6        0.3         Brent Crude         58.4         0.07
 Iron Ore        CNY453         -4.5        TRJCRB Index        185.4023     -0.4217
 TOCOM Rubber    JPY199.5       1.2         LME Copper          7,010.5      -25
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--  
    ** indicates closing price 
    All prices as of 21:13 GMT
    
    EQUITIES

    GLOBAL - U.S. and European stock markets were knocked lower on Wednesday by
corporate earnings concerns, while U.S. bond yields rose on a combination of robust
economic data and swirling speculation over who will next lead the Federal Reserve.
    The Dow Jones Industrial Average and the S&P 500 suffered their worst day in seven
weeks. The Dow fell 112.3 points, or 0.48 percent, to close at 23,329.46, the
S&P 500 lost 11.98 points, or 0.47 percent, to 2,557.15 and the Nasdaq Composite
 dropped 34.54 points, or 0.52 percent, to 6,563.89.
    For a full report, click on
    
    - - - -
    
    NEW YORK - U.S. stocks fell on Wednesday, with the Dow Industrials and S&P 500
indexes suffering their worst day in seven weeks, on a batch of soft quarterly earnings
and a rise in bond yields.
    Benchmark U.S. 10-year note yields hit a seven-month high of 2.475
percent, buoyed by economic data, recent optimism over progress on tax reform by U.S.
President Donald Trump's administration and anticipation of a nominee to head the
Federal Reserve. 
    For a full report, click on
    
    - - - -
    
    LONDON - European shares fell to a near four-week low on Wednesday, with a mixed
batch of company results sparking profit-taking a day before the European Central Bank
decides on monetary policy.
    Pharma heavyweight GlaxoSmithKline (GSK) was a big faller as comments on
possible consumer health acquisitions sparked concerns over its dividend, offsetting
strong results.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei share average dropped for the first time in 17 days in
choppy trade on Wednesday as investors took profits on the record run of consecutive
daily gains, although higher U.S. yields supported financial stocks.
    The Japanese market posted an unprecedented 16 straight days of gains, helped this
week by the victory of Prime Minister Shinzo Abe's coalition in Sunday's election,
which raised the prospect of continued stimulus.
    The Nikkei ended 0.5 percent lower at 21,707.62. It opened 0.4 percent
higher and traded in positive territory in the morning, but languished in the afternoon
as investors grew cautious about the rally.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China's blue-chip shares extended gains to 26-month highs on Wednesday,
underpinned by robust profits from tech firms and as the ruling Communist Party
revealed its new leadership line-up.
    During the week-long Communist Party Congress that concluded on Tuesday, Chinese
President Xi Jinping projected a vision for a "new era", boosting demand for a range of
sectors including green technology, healthcare and advanced manufacturing.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are expected to slip at open on Thursday, with weak
commodity prices likely to pull material and energy stocks lower, while a slump on Wall
Street in the previous session is also seen weighing on sentiment.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korean shares notched fresh highs for a fourth consecutive session on
Wednesday as offshore and individual investors bet on encouraging third quarter
corporate earnings.
    The Korea Composite Stock Price Index (KOSPI) ended 0.1 percent up at
2,492.50 points, setting a record closing high.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The dollar slipped on Wednesday against a basket of currencies,
struggling to post further gains tied to speculation the next chair of the U.S. Federal
Reserve will steer policy in a more hawkish direction.
    A pullback in U.S. bond yields, with two-year Treasury yields retreating
from a near nine-year peak, also stoked some selling in the dollar.
    For a full report, click on

    - - - -
    
    CHINA - China's yuan weakened against the dollar on Wednesday, in line with a much
softer fixing, following a rise in the greenback, which was underpinned by reports of
Republican senators' support for John Taylor to become the next U.S. Federal Reserve
chief.
    Prior to market opening, the People's Bank of China (PBOC) lowered its midpoint
rate for the third straight day to 6.6322 per dollar, 54 pips or 0.08 percent weaker
than the previous fix of 6.6268 on Tuesday.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian dollar sank to its lowest since mid-July on Wednesday
after a surprisingly subdued reading on domestic inflation further diminished the
chance of an increase in interest rates for months to come.
    The Aussie slid 0.6 percent to $0.7727, breaking under the recent trough
of $0.7733 and threatening a pullback to the 200-day moving average at $0.7694.
    For a full report, click on
    
    - - - -
    
    SEOUL - The South Korean won was quoted at 1,127.9 to the dollar at the
conclusion of onshore trade, almost unchanged from Tuesday's close of 1,127.4.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasury yields climbed on Wednesday, boosted by strong U.S.
durable goods and new home sales data as well as speculation about President Donald
Trump's nominee to head the Federal Reserve.
    Benchmark U.S. 10-year note yields hit seven-month highs, while yields on 30-year
bonds climbed to five-month peaks. U.S. two-year note yields also advanced, hitting a
nine-year high.
    For a full report, click on
    
    - - - -
    
    LONDON - Euro zone government bond yields rose on Wednesday as the prospect of
higher interest rates in Britain and the United States piled pressure on a market
already bracing for the withdrawal of ECB stimulus.
    Germany's 10-year bond yield, the benchmark for the region, hit a
close-to-three-week high of 0.49 percent, up a basis point on the day and 3 bps off the
day's lows. Most other euro zone bond yields reversed early falls and were broadly
higher.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bond prices slipped on Wednesday, following a retreat
in U.S. Treasuries, although a regular debt buying operation conducted by the Bank of
Japan helped limit losses.
    The benchmark 10-year JGB yield and the 20-year yield
each rose 0.5 basis point to 0.070 percent and 0.600 percent, respectively.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold steadied after touching a 2-1/2 week low on Wednesday on reports that
Republican senators favored John Taylor to become the next head of the U.S. Federal
Reserve, which drove U.S. bond yields to multi-month highs.
    The Stanford University economist is seen as someone who would raise interest rates
at a quicker pace. Gold is sensitive to rising U.S. interest rates because they push up
bond yields and tend to strengthen the dollar.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Shanghai rebar steel futures retreated on Wednesday after a three-day spike,
reflecting market worries about slower demand as China battles pollution caused by
industrial plants.
    There was little impact from news that China's ruling Communist Party unveiled its
new leadership lineup which did not show a clear successor to President Xi Jinping. 
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Copper steadied on Wednesday after two days of gains as stock markets slid after a
series of record highs, pointing to a more cautious mood among investors. But a retreat
in the dollar lifted the broader metals complex.
    Copper hit a three-year high of $7,177 a tonne earlier in October and moved back
above $7,000 an ounce this week, but has struggled to maintain momentum as confidence
in the broader economy lost steam.
    For a full report, click on
    
    - - - -
    
    OIL
    
    U.S. oil prices slipped on Wednesday after a surprising increase in U.S. crude
inventories, while U.S. gasoline futures rallied 1 percent on a sharp falloff in
inventories.
    Brent crude edged up after top exporter Saudi Arabia reiterated its determination
to end a three-year supply glut.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures jumped on Wednesday evening, supported by gains in
overseas rival oils prices and a rise in October exports.
    The benchmark palm oil contract for January delivery on the Bursa
Malaysia Derivatives Exchange was up 1.01 percent at 2,805 ringgit ($662.49) a tonne at
the end of trade.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures hit a one-week high on Wednesday, helped by a weaker
yen against the dollar and slight gains in Shanghai futures, brokers said.
    The Tokyo Commodity Exchange rubber contract for March delivery JRUc6, 0#2JRU:
finished 1.2 yen higher at 199.5 yen ($1.75) per kg. Earlier in the session, it hit 202
yen, the highest since Oct. 16.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)

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