April 22, 2018 / 9:12 PM / 5 months ago

UPDATE 1-Asia Morning Call-Global Markets

    April 23 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,868.8        -12.20      NZX 50**            8,395.98     22.95
 DJIA**          24,462.94      -201.95     NIKKEI**            22,162.24    -28.94
 Nasdaq**        7,146.126      -91.93      FTSE**              7,368.17     39.25
 S&P 500**       2,670.14       -22.99      Hang Seng**         30,418.33    -290.11
 SPI 200 Fut     5,833          -15.00      STI**               3,573.38     -25.35
 SSEC**          3,071.4747     -45.90      KOSPI**             2,476.33     -9.77
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.058          -0.002      KR 10 YR Bond       2.665        -0.007
 AU 10 YR Bond   2.848          0.027       US 10 YR Bond       2.9602       0
 NZ 10 YR Bond   2.915          0.035       US 30 YR Bond       3.1468       0
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3162         0.0048      KRW US$             1,071.44     1.34
 AUD US$         0.7665         0           NZD US$             0.7215       0.0008
 EUR US$         1.2272         -0.0014     Yen US$             107.78       0.13
 THB US$         31.33          0           PHP US$             52.129       -0.006
 IDR US$         13,875         95          INR US$             66.2         0.34
 MYR US$         3.895          0.006       TWD US$             29.407       0.067
 CNY US$         6.2976         0.018       HKD US$             7.8437       -0.0002
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,334.72       -10.4601    Silver (Lon)        17.11        -0.098
 U.S. Gold Fut   1,338.3        -9.7        Brent Crude         74.06        0.28
 Iron Ore        CNY463.5       -3          TRJCRB Index        -            -
 TOCOM Rubber    JPY186         -1.1        LME Copper          6,982.5      -1.5
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--  
    ** indicates closing price 
    All prices as of 2054 GMT
    
    EQUITIES

    GLOBAL - A U.S. bond sell-off continued for a second day on Friday, pushing the
10-year Treasury yield to its highest level in more than four years and steepening the
yield curve after two weeks of flattening.
    World stock markets dipped as worries about a global slowdown in smartphone demand
dented the technology sector, while oil prices fell after U.S. President Donald Trump
sent a tweet criticizing OPEC and then mostly recovered.
    For a full report, click on
    
    - - - -
    
    NEW YORK - Wall Street's three major indexes declined on Friday as investors
worried about a jump in U.S. bond yields, with technology stocks leading the decline on
nerves about upcoming earnings reports and iPhone demand.
    The technology index was the biggest drag on the S&P 500 with a 1.5
percent drop after registering three straight days of losses ahead of a key earnings
week for the sector.
    For a full report, click on
    
    - - - -
    
    LONDON - European shares held steady on Friday at the end of a strong week as a
rally in commodities softened, although strong earnings updates boosted shares in
Ericsson and Telia.
    The pan-European STOXX 600 index ended the session flat in percentage
terms but remained up 0.7 percent on the week, its fourth straight week of gains, as
global markets recovered from a turbulent first quarter.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei share average edged lower on Friday morning as worries about
slower smartphone demand hit technology shares, while financial stocks rallied thanks
to higher U.S. yields.
    The Nikkei gave up 0.1 percent to 22,162.24. The index rose 1.8 percent for
the week, its fourth straight week of gains.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China stocks fell on Friday to have their worst week in a month, amid
lingering worries over the simmering trade tensions between China and the United
States.
    The blue-chip CSI300 index closed down 1.3 percent at 3,760.85, while the
Shanghai Composite Index dropped 1.5 percent to 3,071.54.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares may slip on Monday, tracking Wall Street's dip on
Friday following worries of a jump in U.S. bond yields, while weak metal prices could
further dampen sentiment. 
    The local share price index futures fell 15 points to 5,833.0, a
35.8-point discount to the underlying S&P/ASX 200 index close.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's KOSPI stock index weakened on Friday after rising 1.3
percent during the past two sessions.
    At 06:32 GMT, the KOSPI was down 9.77 points or 0.39 percent at 2,476.33. For the
week, the index gained 0.9 percent, its second straight weekly gain.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The U.S. dollar rose to a two-week high against a basket of currencies
on Friday on rising U.S. yields, while sterling extended a decline in the wake of
dovish comments from the head of the Bank of England.
    The euro fell to a two-week low versus the dollar, for its biggest weekly drop in
two months, as investors trimmed record high bets before a European Central Bank
meeting next week where policymakers are largely expected to signal no change in
policy.
    For a full report, click on

    - - - -
    
    SHANGHAI - The yuan weakened on Friday as the dollar index rose, with
traders awaiting clues on direction in a market that has fluctuated in a narrow band
over the past weeks despite escalating trade tensions with the United States and
concerns about the sustainability of China's growth.
    "There have been few triggers to move the market recently, and the currency is at
the mercy of random market forces," said a trader at a foreign bank in Shanghai.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian and New Zealand dollars hit multi-day lows on Friday and
were poised to finish the week in the red as traders wagered interest rates in both
countries will remain at record lows for a long time to come.
    The Australian dollar fell as deep as $0.7707, the lowest since April 10.
It was last down 0.2 percent at $0.7712. The retreat came as the Aussie again tested
the 200-day moving average at $0.7815 only to run into heavy speculative selling.
    For a full report, click on
    
    - - - -
    
    SEOUL - The Korean won on Friday lost ground on the local platform due to dollar
strength, and bond yields rose.
    The won was quoted at 1,067.3 per dollar on the onshore settlement platform
, 0.6 percent lower than its previous close at 1,061.5. The currency gained
0.2 percent on a weekly basis.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - The 10-year Treasury yield reached its highest level since March 21 as
the bond selloff continued for a second day on Friday, driving the yield curve steeper
after two weeks of flattening.
    The move appears to reflect a technical shift in the market, rather than a jump in
investor confidence in the U.S. economy or rising inflation. As such, analysts,
regardless of whether they expect the curve to invert in 2018, believe the current
steepening is a temporary move.
    For a full report, click on
    
    - - - -
    
    LONDON - German government bond yields were set for their biggest weekly rise since
the beginning of February after a surge in oil prices forced inflation expectations and
euro zone bond yields higher.
    Euro zone bond yields hit fresh highs on Friday and are now well above their levels
at the start of the week after a sharp sell-off prompted by Brent crude prices hitting
their highest in more than three years at $74.75 a barrel on Thursday.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bonds dropped on Friday with the benchmark futures
hitting nine-week lows after U.S. bonds fell on worries about inflation and more bond
supplies, hurting sentiment further after a weak 20-year JGB auction the previous day.
    The June JGB futures fell 0.27 point, the biggest daily fall as benchmark
contract since Jan. 10, to 150.58, the lowest close since Feb. 13.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices eased on Friday and were on track to end the week lower as the dollar
advanced on expectations of higher U.S. interest rates and market players grew a bit
less worried about global political and security risks.
    Spot gold lost 0.6 percent at $1,336.96 per ounce by 1:36 p.m. EDT (1736
GMT), while U.S. gold June futures settled down $10.50, or 0.8 percent, at
$1,338.30. Spot gold was headed for a weekly decline of nearly 1 percent.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese iron ore prices fell on Friday after a nearly 7-percent jump in the
previous session, ending their strongest week since December on expectations of rising
demand for restocking at steel mills.
    The most-active iron ore futures on the Dalian Commodity Exchange eased 1
percent to 461 yuan ($73.37) a tonne after a sharp rally in the previous session, but
still marked their strongest weekly gain in 17 weeks.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Aluminium prices fell for a second day on Friday as a rally sparked by U.S.
sanctions against Russia's Rusal, the world's second-biggest producer,
appeared to stall.
    Nickel also moved lower as fears diminished that Washington might broaden its
sanctions to include Norilsk Nickel (Nornickel).
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices edged up on Friday, stabilizing after an earlier slide driven by U.S.
President Donald Trump's criticism of OPEC's role in pushing up global oil prices.
    Brent crude oil futures gained 28 cents, or 0.4 percent, to settle at
$74.06 per barrel. West Texas Intermediate crude futures for delivery in June,
the most active U.S. contract, were up 7 cents at $68.40. The May WTI contract, which
expired on Friday, gained 9 cents, or 0.1 percent, to settle at $68.38.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures made gains on Friday evening, their first in three
sessions, tracking strength in crude oil prices and as the market saw profit taking in
evening trade.
    The benchmark palm oil contract for July delivery on the Bursa Malaysia
Derivatives Exchange rose 0.5 percent to 2,414 ringgit ($619.77) a tonne at the close
of trade.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures dropped from a one-month high to end steady on
Friday, as investors took profits after Shanghai futures, which rose earlier in the
day, pared gains.
    "The market came off in the afternoon as investors booked profits ahead of the
weekend and after oil and some metals lost ground," said Toshitaka Tazawa, an analyst
at commodities broker Fujitomi Co.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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