June 6, 2018 / 9:21 PM / in 5 months

UPDATE 1-Asia Morning Call-Global Markets

    June 7 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   6,025.10       30.2        NZX 50**            8,813.45     56.41
 DJIA**          25,146.39      346.41      NIKKEI**            22,625.73    86.19
 Nasdaq**        7,689.243      51.380      FTSE**              7,712.37     25.57
 S&P 500**       2,772.35       23.55       Hang Seng**         31,259.1     165.65
 SPI 200 Fut     6,054          30.00       STI**               3,467.81     -15.35
 SSEC**          3,115.6826     1.48        KOSPI**             2,453.76     6
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.051          0.001       KR 10 YR Bond       2.717        0.001
 AU 10 YR Bond   2.808          0.046       US 10 YR Bond       2.9736       0.055
 NZ 10 YR Bond   2.88           0.06        US 30 YR Bond       3.1233       0.048
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3328         -0.0021     KRW US$             1,065.92     -0.13
 AUD US$         0.7667         -0.0001     NZD US$             0.7033       0.0003
 EUR US$         1.1774         0.0001      Yen US$             110.15       -0.01
 THB US$         31.9           0           PHP US$             52.385       0
 IDR US$         13,850         -24         INR US$             66.83        -0.26
 MYR US$         3.972          0.002       TWD US$             29.738       -0.077
 CNY US$         6.3898         -0.0192     HKD US$             7.8469       -0.0004
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,296          0.27        Silver (Lon)        16.641       0.18
 U.S. Gold Fut   1,300.6        -1.6        Brent Crude         75.71        0.33
 Iron Ore        CNY473.5       3           TRJCRB Index        -            -
 TOCOM Rubber    JPY188.3       0.2         LME Copper          7,235        136
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    ** indicates closing price 
    All prices as of 21:09 GMT
    
    EQUITIES

    GLOBAL - The euro rose to a nearly two-week high while the 10-year U.S. Treasury
yield hit a 1-1/2-week peak on Wednesday after officials said the European Central Bank
could wind down its stimulus program by the end of the year.
    Robust growth is making the central bank increasingly confident that inflation is
on its way back to target, ECB chief economist Peter Praet said on Wednesday, raising
the likelihood it may use a meeting next week to reveal more about the end of its
bond-buying program.
    For a full report, click on
    
    - - - -
    
    NEW YORK -  Wall Street indexes rallied on Wednesday with help from financial
stocks as investors eyed strong economic data and trade war fears took a back seat
while the Nasdaq registered its third straight record closing high.
    White House economic adviser Larry Kudlow said late in the trading day that U.S.
President Donald Trump will meet French President Emmanuel Macron and Canadian Prime
Minister Justin Trudeau during a G7 summit this week.
    For a full report, click on
    
    - - - -
    
    LONDON - European stocks closed flat on Wednesday at the end of a choppy session
during which hawkish comments by the European Central Bank lifted the euro and bond
yields.
    The pan-European STOXX 600 index ended the day unchanged with bourses
closing in different directions across the continent.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei share index touched a two-week high on Wednesday as
technology stocks edged up after their U.S. peers rallied.
    The Nikkei ended up 0.38 percent at 22,625.73 after brushing 22,662.82, its
highest since May 23.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - Shanghai stocks ended flat on Wednesday, as gains in transport and
material firms were offset by losses in banking and real estate shares.
    The blue-chip CSI300 index ended 0.2 percent lower at 3,837.35 points,
while the Shanghai Composite Index closed flat at 3,115.18 points.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australia shares are expected to move higher on Thursday, as rising
commodity prices are seen boosting stocks in the mining sector.
    The local share price index futures rose 0.5 percent, a 28.9-point premium
to the underlying S&P/ASX 200 index close. The benchmark rose 0.5 percent on
Wednesday.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The euro rose to a nearly two-week high against the dollar on Wednesday
after officials said the European Central Bank could wind down its stimulus program by
the end of the year, as inflation has risen to its target.
    Europe's common currency was on track to post its largest weekly gain versus the
dollar since mid-February.
    For a full report, click on

    - - - -
    
    SHANGHAI - China's yuan rose to a more than one-week high against the U.S. dollar
on Wednesday helped by firmer central bank guidance, but gains were capped by rising
corporate demand for the greenback.
    Prior to market opening, the People's Bank of China (PBOC) set the midpoint rate
 at 6.4040 per dollar, 117 pips firmer than the previous fix and in line with
a softer dollar.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian dollar jumped to a six-week top on Wednesday after data
showed the country's economy expanded at a faster-than-expected pace last quarter,
while New Zealand's currency held near one-month highs.
    Gross domestic product (GDP) rose by 1 percent in the March quarter, from an
upwardly revised 0.5 percent the previous quarter, data from the Australian Bureau of
Statistics (ABS) showed.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasury yields rose on Wednesday, with the 10-year yield hitting a
1-1/2-week high on worries that the European Central Bank would end the expansion of
its massive bond purchase program this year.
    Jitters that the ECB could signal its desire to wind down massive stimulus as early
as next week triggered a broad sell-off in German Bunds and other European government
debt, which spilled over to the Treasuries sector, analysts said.
    For a full report, click on
    
    - - - -
    
    LONDON - Germany's bond yields were set for their biggest daily jump in nearly a
year on Wednesday, with borrowing costs across the euro zone rising on concerns the
European Central Bank could signal its desire to wind down massive stimulus as early as
next week.
    The impact was felt deepest in Italy where bond investors have also been grappling
with the prospects of likely aggressive borrowing by a new government.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bonds were little changed on Wednesday, but bonds with
more than 10 years to maturity dipped as brokerages sought concession ahead of an
auction.
    The Ministry of Finance will hold a liquidity-enhancing auction on Thursday, where
it will make an offer of existing JGBs with 15.5 years to 39 years to maturity,
totalling 500 billion yen ($4.55 billion).
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices were steady on Wednesday, see-sawing in a narrow range as a weaker
dollar and trade tensions provided support but investor anticipation of a U.S. rate
hike from the Federal Reserve next week weighed on prices.
    Spot gold was flat at $1,295.80 per ounce by 1:50 p.m. ET (17:50 GMT). U.S.
gold futures GCcv1 for August delivery settled down 80 cents, or 0.1 percent, at
$1,301.40 per ounce.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese iron ore futures climbed to their highest level in two weeks on Wednesday
after an iron ore mining accident, stirring concerns about potential tight supply in
the market.
    An explosion on Tuesday at an iron ore mining project owned by Huamei Group Company
in China's northeastern province of Liaoning killed 11 people and injured nine others. 
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Copper hit a 3-1/2 month high on Wednesday as the dollar fell sharply, concerns
lingered over possible supply disruptions in Chile and buying momentum picked up after
the metal broke key technical levels.
    Nickel and zinc hit their highest in more than a month, tracking the ferrous
complex higher after a blast at an iron ore mine in China and amid falling inventories.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil prices fell on Wednesday on worries that global supply is climbing after U.S.
inventories rose unexpectedly and Saudi Arabia and other big producers signaled that
they may increase output.
    U.S. crude inventories rose 2.1 million barrels in the week to June 1, the Energy
Information Administration said, a surprise after analysts had forecast a decrease of
1.8 million barrels. Fuel inventories also rose.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures ended higher on Wednesday, edging up from a
five-week low hit in the previous session, buoyed by a weaker yen against the greenback
and as Shanghai futures recovered from early losses, dealers said.
    The Tokyo Commodity Exchange (TOCOM) rubber contract for November delivery,
 finished 0.9 yen higher at 188.1 yen ($1.71) per kg.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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