Asian Markets

Asia Morning Call-Global Markets

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Nov 22 (Reuters) - ----------------------------------------------------------------------------------------

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** indicates closing price

All prices as of 18:25 GMT

EQUITIES

GLOBAL - The Nasdaq Composite Index (.IXIC) closed at a new record high on Friday, but blue-chip U.S. stocks and oil sank amid renewed concerns about COVID-19, which also boosted safe havens like the U.S. dollar.

The MSCI world equity index (.MIWD00000PUS), which tracks shares in 45 nations, fell 0.28%.

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NEW YORK - The Nasdaq Composite Index (.IXIC) closed above 16,000 points for the first time on Friday, in its second-straight record finish powered by technology stocks, while pandemic jitters sent the Dow to its fourth losing session in the last five.

The Dow Jones Industrial Average (.DJI) fell 268.97 points, or 0.75%, to 35,601.98; the S&P 500 (.SPX) lost 6.58 points, or 0.14%, at 4,697.96; and the Nasdaq Composite (.IXIC) added 63.73 points, or 0.4%, to 16,057.44.

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LONDON - European stocks ended in the red on Friday, clocking their first weekly decline in seven weeks on concerns over the economic damage from fresh COVID-19 lockdowns in the region that hammered cyclical sectors such as banks and automakers.

The pan-European STOXX 600 index (.STOXX) fell 0.3% after hovering near record highs earlier in the session. The index ended the week 0.1% lower.

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TOKYO - Japan's Nikkei share average rose on Friday as chipmaking giants tracked their U.S. peers higher and energy shares surged after a rebound in oil prices.

The Nikkei (.N225) extended the morning session's gains to end 0.50% higher at 29,745.87. Energy was the best performing sector, jumping 1.79%.

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SHANGHAI - China shares extended gains and ended higher on Friday, thanks largely to sharp rises in the property and logistics shares.

At the close, the benchmark Shanghai Composite Index (.SSEC) was up 1.13% at 3,560.37 points.

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AUSTRALIA - Australian shares ended higher on Friday, but marked a second straight weekly drop as a modest recovery in financials and a revised takeover bid for under-siege Crown Resorts were unable to counter the weekly slump by the big banks and miners.

The S&P/ASX 200 index (.AXJO) rose 0.23% to close at 7,396.5 points.

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SEOUL - South Korean shares logged their first weekly gain in five on Friday, as broader Asian peers edged up on Friday amid investor optimism that the pandemic recovery can weather inflationary pressures.

The benchmark KOSPI (.KS11) was up 23.64 points, or 0.80%, at 2,971.02, as of 0630 GMT. For the week, the index gained 0.075%

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FOREIGN EXCHANGE

NEW YORK - The dollar rose on Friday as investors sought safe havens after Austria said it would be the first country in Western Europe to reimpose a full lockdown amid surging COVID-19 infections and Germany said it could follow suit, sending the euro lower.

The dollar index, which tracks the greenback against a basket of six major currencies, was up 0.489% at 96.029, close to the 16-month high of 96.266 hit on Wednesday. For the week, the dollar was up around 1% .

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SHANGHAI - China's yuan inched lower on Friday but fluctuated in a narrow range, after the central bank set a slightly weaker-than-expected midpoint rate.

In the spot market, the yuan opened at 6.3835 per dollar and was changing hands at 6.3860 by midday, 9 pips weaker from the previous late session close.

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AUSTRALIA - The Australian dollar languished near a six-week trough on Thursday, undermined by a slide in oil and other commodity prices, while the kiwi tried to lift off a one-month low ahead of the central bank's rate-setting meeting next week

Australia's dollar was about flat at $0.7264 from the previous session, when it marked a two-day 1.12% tumble and touched a low of $0.7259 for the first time since Oct. 6

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SEOUL - The Korean won weakened on Friday, while the benchmark bond yield rose.

The won was quoted at 1,185.3 per dollar on the onshore settlement platform , 0.41% lower than its previous close at 1,180.4.

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TREASURIES

NEW YORK - Long-dated U.S. Treasury yields tumbled on Friday as concerns about new lockdowns related to the spread of COVID-19 in Europe increased demand for safe-haven bonds, though the move was likely exaggerated by low liquidity.

Benchmark 10-year notes last yielded 1.538%, down five basis points on the day, after dropping as low as 1.515%. the lowest since Nov. 10.

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LONDON - Euro zone bond yields slumped on Friday and Germany's entire yield curve fell into negative territory for the first time since August after Austria announced it would become the first country in western Europe to reimpose a full COVID-19 lockdown.

Germany's 10-year yield , the benchmark for the euro area, at one stage fell to -0.344%, a drop of about 6 basis points, reversing early-session rises.

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TOKYO - Japanese government bond yields pulled back slightly on Friday from two-week highs, as investors bought back the securities following three days of losses, even as concerns lingered about increased issuance to fund a record government stimulus package.

The 10-year JGB yield slipped 0.5 basis point to 0.075% as of 0515 GMT after touching 0.08% on Thursday for the first time since Nov. 4.

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COMMODITIES

GOLD

Gold prices fell to a one-week low on Friday, weighed down by gains in the dollar after Federal Reserve Governor Christopher Waller called for early tapering of economic support to help chart a tighter monetary policy.

Spot gold fell 0.6% to $1,848.05 per ounce by 14:42 ET (1942 GMT). U.S. gold futures settled 0.5% lower at $1,851.60.

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IRON ORE

Benchmark iron ore futures rebounded on Friday following some positive news from China's troubled property sector, but traders remained cautious over the overall demand outlook for the raw material in the world's biggest steel producer.

The most-traded January iron ore on China's Dalian Commodity Exchange ended daytime trading 2.5% higher at 536 yuan ($84.00) a tonne.

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BASE METALS

Aluminium prices climbed on Friday as an explosion at a smelter in China fuelled fears about tighter supplies, while concerns about shortages and low inventories boosted copper prices.

Benchmark aluminium on the London Metal Exchange was up 2.5% at $2,682 a tonne at 1710 GMT, having earlier touched a session high of $2,697.5. Copper climbed 2.4% to $9,670 a tonne.

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OIL

Oil prices fell about 3% to below $80 a barrel on Friday as surging COVID-19 cases in Europe threatened to slow the economic recovery while investors also weighed a potential release of crude reserves by major economies to cool prices.

Brent futures for January fell $2.35, or 2.9%, to settle at $78.89 a barrel.

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PALM OIL

Malaysian palm oil futures traded lower on Friday as investors locked in profits, but posted a second straight weekly gain as concerns over a slowdown in production and strong exports supported prices.

The benchmark palm oil contract for February delivery on the Bursa Malaysia Derivatives Exchange fell 0.20% to close at 4,988 ringgit ($1,192.73).

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RUBBER

Japanese rubber futures rose on Friday as the government readied a spending package of nearly half-a-trillion dollars to cushion the blow from the pandemic and help economic growth along with demand for industrial commodities.

The Osaka Exchange rubber contract for April delivery , ended 4.4 yen or 2% higher at 229.8 yen per kg, posting its second weekly gain after a rise of 1.2% through Friday.

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