June 26, 2018 / 9:21 PM / in 5 months

UPDATE 1-Asia Morning Call-Global Markets

    June 27 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   6,197.6        -12.8       NZX 50**            8,989.8      -6.44
 DJIA**          24,283.11      30.31       NIKKEI**            22,342       3.85
 Nasdaq**        7,561.627      29.621      FTSE**              7,537.92     28.08
 S&P 500**       2,723.06       5.99        Hang Seng**         28,881.4     -79.99
 SPI 200 Fut     6,136          -16.00      STI**               3,280.87     20.03
 SSEC**          2,844.6575     -14.68      KOSPI**             2,350.92     -6.96
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.034          0           KR 10 YR Bond       2.62         0.012
 AU 10 YR Bond   2.64           -0.004      US 10 YR Bond       2.8766       0.002
 NZ 10 YR Bond   2.923          -0.002      US 30 YR Bond       3.0243       0
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3628         0.0008      KRW US$             1,117.55     0.04
 AUD US$         0.7390         -0.0003     NZD US$             0.6855       -0.0007
 EUR US$         1.1644         -0.0001     Yen US$             110.04       -0.01
 THB US$         33.01          0           PHP US$             53.639       0.164
 IDR US$         14,173         23          INR US$             68.36        0.25
 MYR US$         4.021          0.005       TWD US$             30.412       0.009
 CNY US$         6.5797         0.0399      HKD US$             7.8491       0.0003
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,258.64       -6.36       Silver (Lon)        16.25        -0.054
 U.S. Gold Fut   1,260.8        -8.1        Brent Crude         76.68        1.95
 Iron Ore        CNY465.5       3           TRJCRB Index        /            /
 TOCOM Rubber    JPY174.3       1.8         LME Copper          6,727        -28
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--  
    ** indicates closing price 
    All prices as of 21:06 GMT
    
    EQUITIES

    GLOBAL - Rising shares of U.S. technology companies and General Electric Co helped
global stock markets regain ground on Tuesday, a day after a mounting trade fight
pummeled equities, while oil surged as Washington pushed its allies to halt Iranian
crude imports.
    A basket of European stocks also got a reprieve. The pan-European FTSEurofirst 300
index rose 0.09 percent and MSCI's gauge of stocks across the globe
 gained 0.18 percent, after Asia had extended a sell-off that has wiped
$1.5 trillion off world stocks.
    For a full report, click on
    
    - - - -
    
    NEW YORK - U.S. stocks rose on Tuesday as gains in technology, consumer
discretionary stocks and General Electric GE.N helped Wall Street recover from a sharp
sell-off a day earlier on spiraling global trade tensions.
    At 12:57 p.m. ET the Dow Jones Industrial Average was up 81.61 points, or
0.34 percent, at 24,334.41, the S&P 500 was up 10.83 points, or 0.40 percent, at
2,727.90 and the Nasdaq Composite was up 46.43 points, or 0.62 percent, at
7,578.44.
    For a full report, click on
    
    - - - -
    
    LONDON - It was a choppy session for European shares on Tuesday, which initially
saw a modest bounce after trade tensions triggered losses the previous day, but ran out
of steam to close flat.
    The pan-European STOXX 600 was unchanged in percentage terms and remained
at its lowest level since mid-April following Monday's 2 percent slide.
    For a full report, click on

    - - - -
    
    TOKYO - Japanese shares recovered after slumping to 3-1/2-week lows on Tuesday, as
recently battered stocks rose on short-covering, despite worries about global trade
tensions.
    The Nikkei clawed its way back to end flat at 22,342.00, after falling 1
percent in early trade to 22,104.12, the lowest level since June 1.
    For a full report, click on
    
    - - - -
    
    SHANGHAI -  China joined the global sell-off of equities on Tuesday, with its share
markets falling as escalating trade friction between the United States and other major
economies steered investors away from riskier assets.
    The blue-chip CSI300 index fell 0.8 percent to 3,531.11 points, while the
Shanghai Composite Index .SSEC slid 0.5 percent to 2,844.51 points.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are expected to extend falls and open lower on
Wednesday following a continued slump in material stocks over low metal and iron ore
prices 
    Copper and aluminium were at or near their lowest since April while zinc plunged to
its weakest since August last year.
    The local share price index futures fell 0.26 percent or 16 points to
6136, a 61.6-point discount to the underlying S&P/ASX 200 index close. The
benchmark fell 0.2 percent on Tuesday.
     
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's KOSPI stock index .KS11 weakened on Tuesday as concerns over
a tariff warbetween the U.S. and other major economies deterred investors from taking
risks.
    At 06:32 GMT, the KOSPI was down 6.96 points or 0.30 percent at 2,350.92
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK -  The dollar rose slightly against a basket of currencies on Tuesday,
snapping a four-day losing streak as traders worried about mounting global trade
tensions unwound bets on high-yielding currencies like the Australian and Canadian
dollars, whose economies are heavily trade dependent.
    The dollar index, which measures the greenback against a basket of six
currencies, was up 0.37 percent at 94.628. The index slipped 0.9 percent over the last
four sessions.
    For a full report, click on

    - - - -
    
    CHINA - China's yuan closed at an over six-month low in onshore trade on Tuesday
due to growing concerns over an escalating tariff war between the United States and
China, as well as other major economies.
    The spot yuan opened at 6.5315 per dollar, and struck a low of 6.5630
before ending at 6.5560, its weakest close since Dec. 22.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian and New Zealand dollars flatlined on Tuesday as White
House officials sowed confusion about their trade intentions toward China, leaving the
market in a holding pattern for now.
    The Aussie was steady at $0.7411, after drawing bids around $0.7397
overnight. It had retreated from a top of $0.7443 on Tuesday on a report the Trump
administration planned to restrict Chinese investment in U.S. technology.
    For a full report, click on
    
    - - - -
    
    SEOUL -  The Korean won closed recovering from the loss in its previous close, and
bond yields inched upl.
    The won was quoted at 1,114.8 per dollar on the onshore settlement platform
, 0.22 percent firmer than its previous close at 1,117.2, recovering from the
lowest finish since November.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasury yields held at lower levels on Tuesday as concerns
lingered that trade wars could harm economic growth, though safety buying was capped by
expectations that the Federal Reserve will continue to raise interest rates.
    Benchmark 10-year notes fell 2/32 in price on the day to yield 2.880
percent, up from 2.875 percent late on Monday.
    For a full report, click on
    
    - - - -
    
    LONDON - Southern European bond yields rose on Tuesday as Spain prepared to sell 7
billion euros of 10-year debt in a test case of the market's ability to withstand
political uncertainty in the European Union.
    Selling in euro zone government bond markets was concentrated in Italy, with
10-year yields up 7 basis points on the day at 2.92 percent. Spanish and Portuguese
equivalents were up 4 bps each.,
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bond prices eased on Tuesday after an auction of one
trillion yen 20-year bonds attracted tepid demand, producing one of the weakest
results.
    The 20-year JGB yield rose 0.5 basis point to 0.505 percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold hit its lowest in over six months on Tuesday as a selloff in global risk
assets eased and the precious metal remained under pressure from the prospect that
rising U.S. interest rates will further support the dollar.
    Spot gold dropped 0.6 percent at $1,257.53 per ounce by 1:34 p.m. EDT (1734
GMT), having hit its weakest since mid-December at $1,254.16.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Shanghai rebar steel futures fell to their lowest in nearly four weeks on Tuesday,
with risk appetite weakened by escalating trade tensions between the United States and
its trading partners.
    The most actively traded October rebar on the Shanghai Futures Exchange
closed down 1.8 percent at 3,675 yuan ($561) a tonne. The construction steel product
earlier touched 3,663 yuan, its weakest since May 31.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Most industrial metals prices fell further on Tuesday as investors grew
increasingly nervous that a trade conflict between the United States and China could
escalate, potentially damaging economic growth and metals demand.
    Benchmark copper on the London Metal Exchange ended down 0.6 percent at
$6,713 a tonne after reaching $6,692, the lowest since April 4.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices rose on Tuesday on uncertainty over Libyan oil exports, although plans
by producer cartel OPEC to raise output continued to drag.
    Brent crude futures, the international benchmark for oil prices, were at
$74.95 per barrel at 0104 GMT, up 22 cents, or 0.3 percent from their last close.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures saw their sharpest fall in a week on Tuesday evening,
snapping two sessions of gains, due to slowing demand.
    The benchmark palm oil contract for September delivery on the Bursa
Malaysia Derivatives Exchange was down 0.6 percent at 2,277 ringgit ($566.28) per tonne
at the close of trade, its biggest daily drop since June 19.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Tokyo's new benchmark rubber futures edged higher on Tuesday as investors looked
for bargains after the market hit the lowest since October 2016 the previous day, but
lingering worries over oversupply capped gains.
    The Tokyo Commodity Exchange (TOCOM) rubber contract for December delivery,
 finished at 172.5 yen ($1.57) per kg, up 0.9 yen, or 0.5 percent, from an
opening price of 171.6 yen.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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