June 27, 2018 / 9:24 PM / 5 months ago

UPDATE 1-Asia Morning Call-Global Markets

    June 28 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   6,195.90       -1.7        NZX 50**            8,996.52     6.72
 DJIA**          24,117.59      -165.52     NIKKEI**            22,271.77    -70.23
 Nasdaq**        7,445.085      -116.542    FTSE**              7,621.69     83.77
 S&P 500**       2,669.63       -23.43      Hang Seng**         28,356.26    -525.14
 SPI 200 Fut     6,127          -11.00      STI**               3,254.77     -26.10
 SSEC**          2,812.8702     -31.64      KOSPI**             2,342.03     -8.89
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.034          0           KR 10 YR Bond       2.576        -0.044
 AU 10 YR Bond   2.626          -0.011      US 10 YR Bond       2.8274       -0.053
 NZ 10 YR Bond   2.888          -0.03       US 30 YR Bond       2.9688       -0.059
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3674         0.0002      KRW US$             1,122.33     -0.08
 AUD US$         0.7345         0.0004      NZD US$             0.6804       0.0015
 EUR US$         1.1556         0.0004      Yen US$             110.22       -0.03
 THB US$         33.06          0.01        PHP US$             53.569       -0.07
 IDR US$         14,173         23          INR US$             68.63        0.27
 MYR US$         4.028          0.007       TWD US$             30.454       0.042
 CNY US$         6.602          0.0233      HKD US$             7.8479       0.0002
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,251.62       -7.02       Silver (Lon)        16.045       -0.205
 U.S. Gold Fut   1,253.8        -6.1        Brent Crude         77.17        0.86
 Iron Ore        CNY467         3.5         TRJCRB Index        /            /
 TOCOM Rubber    JPY175.4       1.6         LME Copper          6,693        -20
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--  
    ** indicates closing price 
    All prices as of 21:12 GMT
    
    EQUITIES

    GLOBAL - A modest global rally in stocks on Wednesday spurred by a newly unveiled
U.S. plan that takes a less confrontational approach to curbing Chinese acquisitions of
American technology faded as investors shed optimism, but strong gains in oil limited
losses.
    MSCI's gauge of stocks across the globe shed 0.43 percent.
    For a full report, click on
    
    - - - -
    
    NEW YORK - U.S. stocks fell on Wednesday on renewed uncertainty regarding the U.S.
stance on Chinese investments in American technology companies, reversing gains earlier
in the session.
    The Dow Jones Industrial Average fell 165.52 points, or 0.68 percent, to
24,117.59, the S&P 500 lost 23.43 points, or 0.86 percent, to 2,699.63 and the
Nasdaq Composite dropped 116.54 points, or 1.54 percent, to 7,445.09.
    For a full report, click on
    
    - - - -
    
    LONDON - Relief that the trading dispute between China and the United States was on
course to de-escalate pushed European shares higher on Wednesday after a start in
negative territory.
    The pan-European STOXX 600 closed 0.7 percent higher as Wall Street opened
higher, also boosted by the news.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei share average dropped on Wednesday after higher oil prices
hurt rubber products makers, airlines and shippers, while companies' going ex-dividend
added to the market's broader weakness.
    The benchmark Nikkei closed down 0.3 percent at 22,271.77, while the
broader Topix eked out tiny gains of 0.02 percent to finish at 1,731.45.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China and Hong Kong stocks fell on Wednesday and looked set to post
their third straight session of decline, amid lingering trade war fears and a
depreciating yuan.
    The CSI300 index fell 1.2 percent, to 3,490.35 points, at the end of the
morning session, while the Shanghai Composite Index lost 0.5 percent, to
2,831.58 points.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are expected to open lower on Thursday following weak
leads from Wall Street, with losses being capped through gains in energy stocks on the
back of higher oil prices.
    Oil prices jumped on Wednesday as plunging U.S. crude stockpiles compounded supply
worries in a market already uncertain about Libyan exports, a production disruption in
Canada and Washington's demands that importers stop buying Iranian crude from November.

    The local share price index futures fell 0.18 pct or 11 points to 6127, a
68.9-point discount to the underlying S&P/ASX 200 index close. The benchmark
remained largely unchanged on Wednesday.
       
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's KOSPI stock index and the won both collapsed on
Wednesday as the escalating U.S.-China trade conflict dented investor sentiment.
    At 06:31 GMT, the KOSPI was down 8.89 points or 0.38 percent at 2,342.03
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The U.S. dollar rallied against most currencies on Wednesday, including
against traditional safe-havens like the Swiss franc and Japanese yen, after a
moderation in the U.S. administration's approach to Chinese investment.
    The U.S. dollar index, which measures the greenback against a basket of six
currencies, was up 0.65 percent at 95.274, on pace for its second day of gains.


    For a full report, click on

    - - - -
    
    CHINA - China's yuan weakened beyond a psychologically key 6.6 per dollar level for
the first time in six months on Wednesday, and though it recouped some of the losses by
midday bets are growing for further downside amid an escalating Sino-U.S. trade row.
    The spot yuan rate breached 6.6 per dollar level in early trade, after
opening at 6.5717 and then moving to a low of 6.6159 at one point, the softest since
Dec.19, 2017.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian and New Zealand dollars slipped on Wednesday as sharp
losses in China's yuan only added to concerns about the possible impact of tariffs on
global trade and growth.
    The Aussie dollar dipped 0.1 percent to $0.7382, nudging it back toward
recent 13-month lows at $0.7345.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's won collapsed on Wednesday as the escalating U.S.-China trade
conflict dented investor sentiment.
     The won was quoted at 1,117.6 per dollar on the onshore settlement platform
, 0.25 percent weaker than its previous close at 1,114.8.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasury yields fell to four-week lows on Wednesday on concerns
that trade wars will harm economic growth, even after U.S. President Donald Trump
indicated that he would not impose restrictions on Chinese investments in U.S.
technology firms.
    Benchmark 10-year notes gained 13/32 in price on the day to yield 2.833
percent, the lowest since May 31 and down from 2.880 percent late on Tuesday.
    For a full report, click on
    
    - - - -
    
    LONDON - Germany's government bond yields fell towards recent one-month lows on
Wednesday as a row over migration policy in Germany's coalition government rumbled on,
raising concerns that the euro zone's biggest economy could be headed for snap
elections.
    Germany's benchmark 10-year Bund yield briefly dipped 2.5 basis points to 0.305
percent, within striking distance of one-month lows hit this week.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bond prices were flat across the board on Wednesday,
with support from risk aversion in broader markets neutralised by lukewarm demand for
fresh supply in the longer-dated maturities.

The five-year and 10-year JGB yields were unchanged at
minus 0.115 percent and 0.030 percent, respectively. The 40-year yield
was also flat, at 0.865 percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices dipped to a fresh six-month low on Wednesday as the U.S. dollar
strengthened, making bullion more expensive for buyers using other currencies.
 Spot gold declined 0.3 percent at $1,255.17 per ounce by 1:35 p.m. EDT (1735
GMT), after hitting its lowest since mid-December at $1,252.04.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese steel rebar futures held near a four-week low on Wednesday as traders are
worried that a mounting trade row could crimp physical demand even as production
continues to rise.
    The most-active rebar futures on the Shanghai Futures Exchange closed 0.4
percent lower to 3,672 yuan ($556.61) a tonne. It touched a low of 3,663 yuan a tonne
in the previous session, its weakest since May 31.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Zinc and other industrial metals recovered on Wednesday on bargain hunting and
consumer buying, but sentiment was still fragile due to persistent fears about the
prospect of trade conflicts hitting economic growth.
    Three-month zinc on the London Metal Exchange ended up 1.3 percent to
$2,876 a tonne, rebounding from $2,815 on Tuesday, the lowest in over 10 months.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices jumped on Wednesday as plunging U.S. crude stockpiles compounded supply
worries in a market already uncertain about Libyan exports, a production disruption in
Canada and Washington's demands that importers stop buying Iranian crude from November.
    U.S. crude futures rose $2.23, or 3.16 percent, to settle at $72.76 a
barrel. The contract touched $73.06 a barrel, the highest since Nov. 28, 2014. Brent
crude rose $1.31, or 1.7 percent, to settle at $77.62 a barrel.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures jumped to their highest in over a week on Wednesday
evening, supported by forecasts of weaker output and stronger related edible oils.
    The market was also earlier supported by a weaker ringgit, palm's currency
of trade which typically makes the tropical oil cheaper for holders of foreign
currencies.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures climbed for a second straight session on Wednesday,
moving further away from an about 21-month low hit earlier this week, as surging oil
prices boosted risk appetite among investors.
    The Tokyo Commodity Exchange rubber contract for November delivery,
 finished 1.3 yen, or 0.8 percent, higher at 173.8 yen ($1.58) per kg.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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