February 22, 2018 / 9:03 PM / 10 months ago

UPDATE 1-Asia Morning Call-Global Markets

    Feb 23 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,950.9        7.2         NZX 50**            8,266.88     66.61
 DJIA**          24,961.03      163.25      NIKKEI**            21,736.44    -234.37
 Nasdaq**        7,210.086      -8.142      FTSE**              7,252.39     -29.18
 S&P 500**       2,703.99       2.66        Hang Seng**         30,965.68    -466.21
 SPI 200 Fut     5,950          36.00       STI**               3,488.46     -27.77
 SSEC**          3,268.7305     69.57       KOSPI**             2,414.28     -15.37
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.053          0           KR 10 YR Bond       2.804        0.003
 AU 10 YR Bond   2.843          0           US 10 YR Bond       2.9189       -0.022
 NZ 10 YR Bond   2.99           -0.005      US 30 YR Bond       3.2045       -0.016
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3189         -0.0044     KRW US$             1,080.17     5.16
 AUD US$         0.7845         0.0039      NZD US$             0.7342       0.0024
 EUR US$         1.2327         0.0045      Yen US$             106.68       -1.08
 THB US$         31.48          -0.06       PHP US$             51.887       -0.212
 IDR US$         13,680         62          INR US$             64.97        0.17
 MYR US$         3.915          0.015       TWD US$             29.301       0.056
 CNY US$         6.3565         0.0033      HKD US$             7.8241       -0.0011
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,331.37       7.51        Silver (Lon)        16.618       0.128
 U.S. Gold Fut   1,333.2        1.1         Brent Crude         66.21        0.79
 Iron Ore        CNY541         3.5         TRJCRB Index        -            -
 TOCOM Rubber    JPY185.1       -0.9        LME Copper          7,170.5      51.5
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--  
    ** indicates closing price 
    All prices as of 21:01 GMT
    
    EQUITIES

    GLOBAL - 
    World stock markets advanced on Thursday, with U.S. shares rebounding from a day
earlier and bond yields easing off highs, following more cautious talk about the
potential for interest rate increases this year.
    Oil prices also rose as the U.S. dollar hit session lows in morning trading after
having touched a 10-day high, as the euro was boosted by minutes from the European
Central Bank's most recent policy meeting.
    For a full report, click on
    
    - - - -
    
    NEW YORK - 
    U.S. stocks advanced on Thursday, putting major indexes on track to snap a recent
spate of declines, buoyed by gains in industrial and energy shares as U.S. Treasury
yields eased.
    The Dow and S&P dropped for a second consecutive session and the Nasdaq fell for a
third straight on Wednesday after minutes from the U.S. Federal Reserve's January
meeting showed the central bank's rate-setting committee grew more confident in the
need to keep raising rates.
    For a full report, click on
    
    - - - -
    
    LONDON - 
    European shares fell slightly on Thursday as a flurry of corporate results failed
to lift sentiment after a new wave of speculation about faster hikes in U.S interest
rates soured risk appetite globally.
    An hour after the open, the publication of the German business confidence index,
which fell more than expected in February, and a downward revision in UK economic
growth cemented the gloom, although a rebound on Wall Street from losses in the
previous day helped shares come off lows.
    For a full report, click on

    - - - -
    
    TOKYO - 
    Japan's Nikkei share average fell on Thursday on across-the-board selling after
U.S. shares dropped overnight on speculation about faster interest rate hikes, while
Ricoh stumbled after a media report said it was considering an impairment charge.
    The Nikkei declined 1.1 percent to 21,736.44.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - 
    China's major stock indexes scored their best single-day gains in more than 18
months, as investors played catch-up buying after the week-long Lunar New Year holiday.
    The rally was led by consumer and transport firms seen benefiting from the long
break when locals splashed out more on trips and consumer goods.
    The blue-chip CSI300 index was up 2.17 percent, also its best day since August
2016, with its financial sector sub-index higher by 1.73 percent, the
consumer staples sector up 4.19 percent, the real estate index up 1.79 percent and
healthcare sub-index up 1.22 percent.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - 
    Australian shares are expected to gain at Friday's open, following a positive lead
from Wall Street and an uptick in oil prices.
    Australian share price index futures rose 36 points, or 0.6 percent, to
5,950, a 0.9-point discount to the underlying S&P/ASX 200 index close. The
benchmark gained 0.1 percent on Thursday.
    For a full report, click on
    
    - - - -
    
    SEOUL - 
    South Korea's KOSPI stock index .KS11 and the Korean won both slumped to over
one-week lows on Thursday as risk appetite weakened after minutes of the latest Federal
Reserve meeting suggested policymakers will continue raising rates further this year.
    At 06:30 GMT, the KOSPI was down 15.37 points or 0.63 percent at 2,414.28.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - 
    The dollar fell against a basket of major currencies on Thursday, as its rally from
a three-year low last week ran out of steam, and the yen soared against the greenback
as heightened volatility led investors to favor the Japanese currency.
    The dollar index, which measures the greenback against a basket of six major
currencies, was down 0.31 percent at 89.724. Through Wednesday, the index gained nearly
2 percent since hitting a three-year low of 88.253 on Friday.
    For a full report, click on

    - - - -
    
    SHANGHAI - 
    China's yuan eased against the U.S. dollar on Thursday, the first trading day after
long Lunar New Year holiday, following a much weakened official guidance rate and
strength in the greenback.
    Trading in the domestic foreign exchange market resumed on Thursday after the
week-long holiday, and the local market was playing catch up with global movements in
the greenback.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - 
    The Australian dollar fell again on Thursday and its New Zealand cousin was on
track for a fifth straight day of weakening as the greenback extended gains amid
bolstered expectations of at least three rate hikes in the United States this year.
    The Aussie slipped to $0.7792, inching closer to a 1-1/2 week trough of
$0.7759 earlier this month. Technical analysts see strong chart support around $0.7760.
    For a full report, click on
    
    - - - -
    
    SEOUL - 
    South Korea's KOSPI stock index .KS11 and the Korean won both slumped to over
one-week lows on Thursday as risk appetite weakened after minutes of the latest Federal
Reserve meeting suggested policymakers will continue raising rates further this year.
    The won was quoted at 1,084.3 per dollar on the onshore settlement platform
, 0.75 percent weaker than its previous close at 1,076.2.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK -  
    U.S. Treasuries pared price gains on Thursday after the U.S. government sold new
seven-year notes to slightly soft demand, the final sale of $258 billion in debt this
week.
    The debt sold around 0.6 basis points higher in yield than before the auction,
though yields fell more than 3 basis points before the sale. The bid was 2.49 times the
debt on offer, the weakest since November. 
    For a full report, click on
    
    - - - -
    
    LONDON - 
    Euro zone government bond yields dipped on Thursday after a survey showed German
business confidence fell in February, offsetting an earlier rise in yields after the
minutes of the last Federal Reserve meeting revived fears of inflation.
    German business confidence fell more than expected in February but remained high, a
survey showed on Thursday, suggesting that Europe's biggest economy is set for solid
growth in the first quarter of this year.
    For a full report, click on
    
    - - - -
    
    TOKYO - 
    Prices of long-term Japanese government bonds edged higher, pushing the 40-year JGB
yield down to the lowest in more than a year on Thursday, after an auction of 20-year
bonds attracted solid demand.
    The 40-year JGB yield slipped to as low as 0.900 percent, its lowest
level since January 2017.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD
    
    Gold rose on Thursday, snapping four sessions of losses as the U.S. dollar
surrendered early gains, though the metal remained lower for the week to date and
analysts said they expected trading to be rangebound.
    The dollar slipped against a basket of major currencies, as its rally from a
three-year low last week ran out of steam. The yen soared as volatility in financial
markets led investors to favor the Japanese currency.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese steel futures dropped nearly 2 percent on Thursday as investors returning
from a week-long Lunar New Year holiday sold off the commodity, which at one point
touched its weakest level in five weeks.
    Construction activity in China may only get into full swing next month with many
workers still away, traders said, but the outlook for steel demand was mostly firm.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Nickel and zinc hit their lowest levels in over a week on Thursday as Chinese
investors sold metals as their markets opened after holidays and steel prices dropped.
    Prices came off their lows in the European afternoon after the dollar reversed
direction and slipped into negative territory, making commodities priced in the
greenback cheaper for buyers using other currencies.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices rose to two-week highs on Thursday, boosted by data showing a surprise
draw in U.S. crude inventories and also by a drop in the dollar.
    West Texas Intermediate (WTI) crude futures rose $1.09, or about 1.8
percent, to settle at $62.77 a barrel. U.S. crude traded between $60.75 and $63.09, its
highest since Feb. 7.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
     Malaysian palm oil futures fell on Thursday evening, ending the day slightly
weaker after posting gains at noon, as market sentiment turned bearish on a less than
expected drop in output.
    The market was up earlier on the back of a weaker ringgit MYR= and overnight gains
in soyoil on the U.S. Chicago Board of Trade (CBOT).
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures fell on Thursday, snapping a three-session rally, as
a stronger yen, lower oil prices and plunging Tokyo stock market weighed on market
sentiment, dealers said.
    The dollar lost ground against the yen, falling 0.4 percent to 107.36. The
Japanese currency gained broadly as speculation of a faster pace of U.S. rate hikes
soured investors' risk appetites and dented equities. 
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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