April 26, 2020 / 6:55 PM / a month ago

Asia Morning Call-Global Markets

    April 27 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,242.60       25.50       NZX 50**            10,419.48    -26.63
 DJIA            23,775.27      260.01      NIKKEI**            19,262.00    -167.44
 Nasdaq          8,634.52       139.77      FTSE**              5,752.23     -74.38
 S&P 500         2,836.74       38.94       Hang Seng**         23,831.33    -145.99
 SPI 200 Fut     5,298.00       82.00       STI**               2,518.16     -24.21
 SSEC**          2,808.53       -29.97      KOSPI**             1,889.01     -25.72
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 Bonds                                      Bonds                            
 JP 10 YR Bond   -0.01          0.009       KR 10 YR Bond       1.535        -0.016
 AU 10 YR Bond   0.918          0.014       US 10 YR Bond       0.6055       0
 NZ 10 YR Bond   0.855          -0.005      US 30 YR Bond       1.1752       0
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 Currencies                                                                  
 SGD US$         0              0           KRW US$             1,229.6      -0.93
 AUD US$         0              0           NZD US$             0.6018       0
 EUR US$         1.082          0.0044      Yen US$             107.54       0.04
 THB US$         32.44          -0.01       PHP US$             50.75        0
 IDR US$         15,550         0           INR US$             76.26        0.37
 MYR US$         4.357          0.002       TWD US$             30.08        0.008
 CNY US$         7.0823         0.0151      HKD US$             7.7499       -0.0003
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 Commodities                                                                 
 Spot Gold       1,727.43       -3.8899     Silver (Lon)        15.24        -0.06
 U.S. Gold Fut   1,735.6        -9.8        Brent Crude         0            0
 Iron Ore        CNY607.0       -2.5        TRJCRB Index        -            -
 TOCOM Rubber    JPY151.5       0           LME Copper          5,143        -21
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    ** indicates closing price 
    All prices as of 18:49 GMT
    
    EQUITIES

    GLOBAL -  Global equity benchmarks struggled on Friday as some U.S. states began
reopening businesses despite the disapproval of health experts, and as the European
Union put off addressing details of its new economic rescue plan.

Safe-haven government bonds edged up while the dollar slipped, reflecting the market's
unsettled direction. Oil's recovery lost some steam during the day.
    For a full report, click on
    
    - - - -
    
    NEW YORK -  Wall Street rallied on Friday, led higher by Apple and Microsoft as
investors finished a turbulent week of trading and some states prepared to relax
coronavirus-related lockdowns.

Apple and Microsoft each climbed more than 1%, lifting the S&P 500
more than any other companies. The two tech titans are on tap to report their
March-quarter results next week, giving investors a glimpse at how the pandemic has
affected their global businesses.
    For a full report, click on
    
    - - - -
    
    LONDON -  European stock markets fell on Friday with investors disappointed by the
lack of details in a trillion-euro emergency fund agreed by the bloc's leaders as
evidence grew of the global damage wrought by the coronavirus crisis.

After two days of gains, the pan-European STOXX 600 index closed 1.1% lower.
That took weekly losses to 1.2% as it added to a sell-off due to a historic collapse in
oil prices, ending the index's two-week winning streak.
    For a full report, click on

    - - - -
    
    TOKYO - Japanese shares ended lower on Friday, marking their first weekly decline
in three, as investors are still in the dark over when and how quickly the economy can
recover from the fallout of the coronavirus pandemic.

The Nikkei share average closed 0.86% lower at 19,262.00, with a weekly loss of
3.2%.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - Chinese shares fell on Friday and ended the week lower amid lingering
coronavirus worries, but losses were limited as Beijing pledged more support to shore
up the world's second- largest economy.

The blue-chip CSI300 index .CSI300 fell 0.9% to 3,796.97, while the Shanghai Composite
Index dropped 1.1% to 2,808.53.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares ended higher on Friday, but reported its first weekly
loss this month, with investors now eyeing corporate results that are set to reflect
the economic damage from the coronavirus pandemic.

The benchmark S&P/ASX 200 index closed 0.5% higher at 5,242.6. For the week, it
shed 4.5%.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korean shares on Friday fell 1.3%, the sharpest loss in more than a
week, as bleak economic data from the United States and Europe heightened concerns over
the fallout from the pandemic. 

The Seoul stock market's main KOSPI closed down 25.72 points, or 1.34%, to
1,889.01. For the week, the index lost 1.33% and snapped a four-week winning streak.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The U.S. dollar eased against the euro on Friday, snapping a four-day
winning streak as investors covered some bearish bets against the common currency, but
broader concerns about the euro's outlook kept dollar bears in check.

Against the dollar, the euro was up 0.16% on the day at $1.0793. For the week, the
dollar remains about 0.7% higher against the euro, set for its biggest ;;weekly rise in
three week.
    For a full report, click on

    - - - -
    
    SHANGHAI - The yuan eased against the dollar on Friday, set for its second straight
weekly loss, as broad strength in the greenback continued to weigh on the Chinese
currency.

The dollar is headed for its best week since early April helped by investors fleeing to
safety as oil prices tumbled this week.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA -  The Australian and New Zealand dollars marked time on Thursday as
global markets braced for a round of factory surveys that were likely to underline just
how much damage the coronavirus had done to economies everywhere.

In one of the calmest sessions for weeks, the Aussie sat still at $0.6305 and
well within the week's relatively tight range of $0.6254-$0.6398.
    For a full report, click on
    
    - - - -
    
    SEOUL -  The won weakened on Friday, while the benchmark bond yield rose.
    
In offshore trading, the won was quoted at 1,235.1 per dollar, down 0.2% from
the previous session, while in non-deliverable forward trading its one-month contract
 was quoted at 1,233.9. 
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK -  U.S. Treasury yields were little changed on Friday as investors stuck
with riskier assets like stocks despite dim prospects of a quick economic rebound after
the novel coronavirus outbreak.

The benchmark 10-year ield was down one basis point at 0.6008%.
    For a full report, click on
    
    - - - -
    
    LONDON -  Southern European bond yields fell by about 10 basis points on Friday as
markets remained focused on European Central Bank action to mitigate euro zone economic
stress and prevent Italy's credit rating from tumbling into junk territory.

Yields had risen in early trade after Thurday's European Union summit failed to confirm
the size, speed and structure of an emergency fund to help countries to deal with the
coronavirus pandemic. With no clear reason for the turnaround, there was suspicion the
ECB had stepped in to reverse the blowout in bond yield spreads.
    For a full report, click on
    
    - - - -
    
    TOKYO -  Japanese government bond prices gained on Friday, supported by investors'
cautious mood on the global economic outlook ahead of the Bank of Japan's policy
meeting next week.

Benchmark 10-year JGB futures rose 0.34 points to 152.71. Trading volume topped
10,000 lots for the first time in two weeks.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

     Gold prices slipped on Friday as investors booked profits, but concerns over the
global economic slowdown and massive stimulus measures from major central banks kept
bullion on track for a weekly gain.

Spot gold was down 0.4% at $1,724.29 per ounce by 2:05 pm EDT (1805 GMT), having
earlier dropped more than 1%. U.S. gold futures settled down 0.6% at $1,735.60
an ounce.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Steel rebar and hot-rolled coil futures in China fell on Friday, posting losses for
the week, as rising output at mills outweighed the destocking pace of inventories that
continued to remain at elevated levels.

While steel products held by traders in China fell 5.7% to 20.1 million tonnes as of
Thursday compared with the previous week, Mysteel consultancy's data showed utilisation
rates at blast furnaces in 247 mills rose for a seventh week to 80.59%.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Copper prices retreated on Friday on fears about a deep global recession and
pessimism over the development of drugs to treat COVID-19.

Some other base metals joined a downturn in stock markets after reports that an
experimental antiviral drug failed to help patients with severe COVID-19. 
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices rose on Friday, bringing an end to another week of losses that featured
the U.S. contract plunging to minus $40 a barrel, as global production cuts could not
keep pace with the collapse in demand caused by the coronavirus pandemic.

Oil trading was extremely volatile all week, in an extension of the selling that has
dominated trading since early March as demand collapsed 30% due to the pandemic.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures extended losses on Friday, tracking declines on the
Dalian Commodity Exchange, to record their biggest weekly drop in eight as an historic
crude oil rout made them less attractive for biodiesel feedstock.

The benchmark palm oil contract for July delivery on the Bursa Malaysia
Derivatives Exchange closed down 2% at 2,076 ringgit ($476.15) per tonne, after two
straight sessions of gains.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Rubber prices on the Tokyo Commodity Exchange (TOCOM) fell on Friday and booked a
weekly loss for the first time in three weeks amid demand concerns as the coronavirus
outbreak hits global economic growth

TOCOM's rubber contract for October delivery <JRUc6, 0#2JRU: dropped 0.5 yen to end
trading at 151.5 yen per kg
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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