November 8, 2017 / 9:50 PM / a month ago

UPDATE 1-Asia Morning Call-Global Markets

    Nov 9 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   6,016.265      1.959       NZX 50**            7,999.0      -41.42
 DJIA**          23,563.36      6.13        NIKKEI**            22,913.82    -23.78
 Nasdaq**        6,789.118      21.335      FTSE**              7,529.72     16.61
 S&P 500**       2,594.38       3.74        Hang Seng**         28,907.6     -86.74
 SPI 200 Fut     6,010.0        12.0        STI**               3,421.25     8.15
 SSEC**          3,414.908      1.3332      KOSPI**             2,552.40     6.96
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.022          -0.002      KR 10 YR Bond       2.543        0.002
 AU 10 YR Bond   2.616          0.037       US 10 YR Bond       2.3289       0.022
 NZ 10 YR Bond   2.925          0.05        US 30 YR Bond       2.7871       0.017
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3616         -0.0029     KRW US$             1,112.79     -0.14
 AUD US$         0.7678         0.0034      NZD US$             0.6967       0.0068
 EUR US$         1.1596         0.0011      Yen US$             113.82       -0.19
 THB US$         33.11          -0.02       PHP US$             51.223       -0.143
 IDR US$         13,515         3           INR US$             64.915       -0.135
 MYR US$         4.228          -0.0005     TWD US$             30.187       0.056
 CNY US$         6.6317         -0.0078     HKD US$             7.7979       -0.0066
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,280.83       5.05        Silver (Lon)        17.01        0.058
 U.S. Gold Fut   1,281.6        5.8         Brent Crude         63.50        -0.19
 Iron Ore        CNY474         8           TRJCRB Index        191.8912     0.0441
 TOCOM Rubber    JPY202         -2.7        LME Copper          6,853        27
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--  
    ** indicates closing price 
    All prices as of 2116 GMT
    
    EQUITIES

    GLOBAL - Increasing concern that U.S. Republicans' plans to cut corporate taxes may
not win congressional approval as early as expected weighed on American stock indexes
on Wednesday, overshadowing strong economic data in Asia that sent the MSCI All World
Index to a record high
    The Dow Jones Industrial Average rose 9.27 points, or 0.04 percent, to
23,566.5, the S&P 500 gained 2.56 points, or 0.10 percent, to 2,593.2 and the
Nasdaq Composite added 14.81 points, or 0.22 percent, to 6,782.59.
    For a full report, click on
    
    - - - -
    
    NEW YORK - The S&P 500 approached its highest ever close on Wednesday as a rally in
videogame makers helped offset doubts about an ambitious Republican plan to cut
corporate taxes and weakness in banks.
    At 2:23 pm ET (1923 GMT), the Dow Jones Industrial Average was up 0.05
percent at 23,569.28 points, while the S&P 500 had gained 0.13 percent to
2,594.04.
    The Nasdaq Composite added 0.28 percent to 6,786.64.
    For a full report, click on
    
    - - - -
    
    LONDON - Financial shares weighed on European indexes on Wednesday amid doubts over
U.S. tax reform plans and the "Trumpflation" trade and concerns over some European
lenders' earnings and over non-performing loans in Italy.
    The pan-European STOXX 600 dipped 0.1 percent as the indexes of financial
services and banks fell 0.4 percent and 0.2 percent respectively, in
line with a similar trend in early trading on Wall Street.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Topix index hit a near 11-year high on Wednesday as foreign
investors continued to pile in on strong earnings hopes for Japan Inc., though the
Nikkei edged down from a near 26-year high on profit-taking.
    The Nikkei ended 0.1 percent lower to 22,913.82, though remained near
22,953.18 hit on Tuesday, its highest level since January 1992.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China's blue-chip index reversed earlier gains to end lower, weighed
down by healthcare and consumer stocks, and after data showed the country's exports
growth slowed in October.
    The blue-chip CSI300 index fell 0.2 percent to 4,048.01 points, before
climbing to a 27-month high, while the Shanghai Composite Index added 0.1
percent to 3,415.46 points.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are expected to tick up on Thursday, taking cues from
Wall Street which closed at a record high, although lower commodity prices might weigh
on the index.
    The local share price index futures rose 0.2 percent, or 12 points to
6,010, a 6.3-point discount to the underlying S&P/ASX 200 index close. The
benchmark closed up 0.03 percent on Wednesday.
    For a full report, click on
       
    - - - -
    
    SEOUL - South Korea's KOSPI stock index rose on Wednesday. The Korean won
fell while bond yields rose.
     At 06:30 GMT, the KOSPI was up 6.96 points or 0.27 percent at 2,552.40.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The dollar slipped to a more than one-week low against the yen on
Wednesday, pressured by worries over possible delays to President Donald Trump's tax
reform plans.
    The dollar index, which tracks the greenback against six major currencies,
was down 0.04 percent at 94.875.
    For a full report, click on

    - - - -
    
    CHINA - China's yuan inched up against the U.S. dollar in thin trade on Wednesday,
supported by some weakness in the greenback in global markets, traders said.
    In the spot market, the onshore yuan opened at 6.6370 per dollar and was
changing hands at 6.6378 at midday, 17 pips firmer than the previous late session
close.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian dollar held near four-month lows on Wednesday on
expectations that local interest rates will stay at record lows for a long time yet,
while trade in its New Zealand cousin was muted ahead of a policy decision.
    The Aussie dollar also came under some pressure after data from China
showed imports of crude oil, copper and iron ore fell in October from the previous
month. China is Australia's No.1 trading partner.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's KOSPI stock index rose on Wednesday. The Korean won
fell while bond yields rose.
    The won was quoted at 1,114.27 per U.S. dollar, down 0.16 percent from the
previous day, while in one-year non-deliverable forwards it was being
transacted at 1,111.85 per dollar.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasury yields on Wednesday afternoon pared their earlier gain
following solid demand at a $23 billion auction of 10-year government securities, the
second leg of this week's $64 billion quarterly refunding.
    At 1:10 p.m. EST (1810 GMT), the yield on benchmark 10-year Treasury notes
 on the open market was traded at 2.320 percent, up 1.3 basis points from
late on Tuesday, while the 30-year bond yield was nearly 1 basis point
higher at 2.779 percent.
    For a full report, click on
    
    - - - -
    
    LONDON - Yields on long-term German bonds fell to four-month lows on Wednesday,
part of a global trend of flattening curves that suggests investors have doubts over
the future path of inflation and may even be starting to price in the next slowdown.
    German 30-year yields fell 2 basis points on Wednesday to a two-month low of 1.13
percent, 10-year yields fell 1 bps also to a two-month low of 0.31
percent, and two-year yields were flat at minus 0.76 percent
.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bond prices tracked gains by U.S. Treasuries and rose
on Wednesday, with a pause in long rallying Tokyo stocks also helping the debt market.
    The benchmark 10-year yield stood unchanged at 0.025 percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold rose on Wednesday, hovering near a three-week high as the dollar retreated on
expectations of possible delays in long-awaited U.S. tax reforms, while palladium hit
its highest since 2001.
    Spot gold was up 0.6 percent at $1,283.20 an ounce by 2:00 p.m. EST (1900
GMT). U.S. gold futures for December delivery settled up $7.90, or 0.6 percent,
at $1,283.70 per ounce.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese iron ore futures pulled back on Wednesday after data showed imports of the
steelmaking commodity by the world's biggest buyer declined to 20-month lows as steel
mills curb output in line with Beijing's war against smog.
    The most-traded iron ore contract for January delivery on the Dalian Commodity
Exchange closed down 0.5 percent at 466 yuan ($70) a tonne. It touched a near
six-week high of 475 yuan on Tuesday.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    The price of aluminium slipped further on Wednesday as investors judged its recent
rally as being mainly driven by speculators rather than supply/demand factors.
    Three-month aluminium on the London Metal Exchange shed 1.1 percent to
close at $2,109 a tonne after dropping 1.8 percent on Tuesday.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices were little changed on Wednesday as rising political tensions in the
Middle East offset U.S. government data showing an increase in domestic crude
production and a surprise build in stockpiles.
    Brent futures were down 4 cents, or 0.1 percent, at $63.65 a barrel by
11:24 a.m. EST (1624 GMT), while U.S. West Texas Intermediate crude was down 16
cents, or 0.3 percent, at $57.04 per barrel.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures jumped to a one week top on Wednesday evening, charting
a second straight day of gains, over concerns that rainy weather could lower
production.
    The benchmark palm oil contract for January delivery on the Bursa
Malaysia Derivatives Exchange was up 1.3 percent at 2,820 ringgit ($666.98) a tonne at
the close of trade, its strongest daily gain in over two weeks.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures ended lower on Wednesday on profit-taking after four
days of gains and a decline in Shanghai futures.
    The Tokyo Commodity Exchange rubber contract for April delivery,
finished 1.3 yen lower at 204.7 yen ($1.80) per kg.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)

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