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UPDATE 1-Asia Morning Call-Global Markets
August 29, 2017 / 9:49 PM / 3 months ago

UPDATE 1-Asia Morning Call-Global Markets

    Aug 30 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,669.012      -74.849     NZX 50**            7,738.34     -119.47
 DJIA**          21,865.37      56.97       NIKKEI**            19,362.55    -90.06
 Nasdaq**        6,301.886      36.243      FTSE**              7,337.43     -64.03
 S&P 500**       2,446.3        3.25        Hang Seng**         27,765.01    -98.28
 SPI 200 Fut     5,661          29.00       STI**               3,249.34     -18.28
 SSEC**          3,365.6279     2.98        KOSPI**             2,364.74     -13.77
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.003          -0.002      KR 10 YR Bond       2.262        0.009
 AU 10 YR Bond   2.654          0.03        US 10 YR Bond       2.1292       -0.03
 NZ 10 YR Bond   2.885          0.005       US 30 YR Bond       2.7392       -0.013
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3549         -0.0003     KRW US$             1,123.95     0.44
 AUD US$         0.7951         -0.0003     NZD US$             0.7249       -0.0006
 EUR US$         1.1965         -0.0007     Yen US$             109.61       -0.13
 THB US$         33.19          0.01        PHP US$             51.135       -0.042
 IDR US$         13,338         -1          INR US$             64.01        0.11
 MYR US$         4.2655         -0.0005     TWD US$             30.2         0.038
 CNY US$         6.5956         -0.0139     HKD US$             7.8243       -0.0003
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,309.3        -0.2        Silver (Lon)        17.343       -0.077
 U.S. Gold Fut   1,318.9        0           Brent Crude         51.95        0.06
 Iron Ore        CNY546.5       -16.5       TRJCRB Index        177.5312     -0.4808
 TOCOM Rubber    JPY216.3       0.8         LME Copper          6,804.5      138.5
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--  
    ** indicates closing price 
    All prices as of 21:46 GMT
    
    EQUITIES

    GLOBAL - U.S. stocks rebounded from a sharply lower open on Tuesday and helped an
index of global equity markets pare losses as investors shrugged off concerns over
North Korea's latest missile test.
    Treasury yields were off early lows and the dollar index, which measures the
greenback against a basket of six major currencies, traded little changed on the day.

    For a full report, click on
    
    - - - -
    
    NEW YORK - Major U.S. stock indexes ended higher on Tuesday after recovering from
steep early losses triggered by fears that hostilities in the Korean Peninsula could
escalate.
    The S&P 500 fell as much as 0.66 percent after U.S. President Donald Trump warned
that all options are on the table for the United States to respond after North Korea
fired a ballistic missile over a Japanese island in a new show of force.
    For a full report, click on
    
    - - - -
    
    LONDON - Political tensions and a surging euro sent European shares to their lowest
in six months on Tuesday after a missile launch by North Korea sapped global risk
appetite.
    The pan-European STOXX 600 ended the session down 1 percent, recovering
some of the ground lost earlier in the day but still firmly on track to make August its
third month of declines in a row.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei share average touched its lowest intraday level in almost
four months on Tuesday, as a missile fired by North Korea over Japan put investors on
edge and increased the yen's safe-haven appeal.
    The Nikkei ended 0.5 percent lower at 19,362.55. At one point in the
morning, it reached 19,280.02, a 0.9 percent drop for the day and the lowest level
since May 1.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China's major shares indexes moved only marginally on Tuesday as
investors paused for breath after a recent rally.
    Investors were little fazed by North Korea's missile launch over Japan, which
impacted indexes elsewhere in Asia. China's share markets are largely driven by
domestic factors.
    After two sessions of solid gains, there was some profit-taking on Chinese
exchanges on Tuesday. The CSI300 index fell 0.2 percent to 3,834.54 points
while the Shanghai Composite Index gained 0.1 percent to 3,365.23 points.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are likely to open higher on Wednesday, taking leads
from a positive finish on Wall Street in the previous session as fears over North
Korean hostilities faded, while strong commodity prices are also expected to lend
material stocks support.
    Major U.S. stock indexes ended higher on Tuesday after recovering from steep early
losses triggered by the firing of a ballistic missile by North Korea over a Japanese
island.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korean shares and the won fell on Tuesday after North Korea fired a
missile over Japan in one of its most provocative acts yet, escalating global tensions
over the peninsula after a short period when nerves seemed to be calming down.
    Both stocks and the won clawed back some of their early losses later in the
session, however, as markets waited to see how U.S. President Donald Trump and the
United Nations Security Council would respond.
    The Korea Composite Stock Price Index (KOSPI) closed down 0.2 percent at
2,364.74 points, after falling more than 1 percent in early trade.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The U.S. dollar turned positive against a basket of major rivals on
Tuesday after touching its lowest level in more than 2-1/2 years as traders brushed
aside concerns surrounding a North Korean missile launch over Japan.
    The dollar, which had touched its lowest level against the yen in 4-1/2 months
earlier on widespread risk aversion following North Korea's launch of a ballistic
missile over northern Japan's Hokkaido island into the sea, jumped more than half a
percent against the Japanese currency in afternoon U.S. trading to a 12-day high of
109.89 yen.
    For a full report, click on

    - - - -
    
    CHINA - China's offshore yuan strengthened past the psychologically
important 6.6 per dollar level on Tuesday for the first time since June 2016.
    Its onshore counterpart topped that level earlier in afternoon trade,
also firming to the strongest level in more than a year as the dollar weakened
globally.
    But as of 0820 GMT, both offshore and onshore spot rates had slipped back to 6.6018
and 6.6010, respectively.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian and New Zealand dollars stumbled to multi-week lows
against the Japanese yen on Tuesday, as escalating tensions over North Korea pushed
investors to safe harbours.
    North Korea fired a missile that passed over northern Japan, the latest act of
provocation by Pyongyang that has ramped up tensions in the region over the past month.
That has forced funds to pare back riskier positions in carry trades which typically
favour the higher-yielding Antipodeans.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korean shares and the won fell on Tuesday after North Korea fired a
missile over Japan in one of its most provocative acts yet, escalating global tensions
over the peninsula after a short period when nerves seemed to be calming down.
    Both stocks and the won clawed back some of their early losses later in the
session, however, as markets waited to see how U.S. President Donald Trump and the
United Nations Security Council would respond.
    The won was quoted at 1,126.4 to the dollar at the conclusion of onshore
trade, down 0.6 percent compared to Monday's close of 1,120.1. It touched as low as
1,128.7 earlier in the session.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. benchmark 10-year Treasury note yields fell on Tuesday to their
lowest since last November after North Korea fired a ballistic missile over northern
Japan and into the sea, sparking safety buying of the bonds.
    The action prompted a warning from U.S. President Donald Trump, calls to residents
to take cover and drew a sharp reaction from Japanese Prime Minister Shinzo Abe
    For a full report, click on
    
    - - - -
    
    LONDON - Germany's borrowing costs hit their lowest level in months on Tuesday as
investors rushed to buy up one of the safest securities in the world after North Korea
fired a ballistic missile over Japan.
    North Korea's ballistic missile test early on Tuesday prompted warnings for
residents to take cover while provoking a sharp reaction from Japanese Prime Minister
Shinzo Abe and other leaders.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bonds largely firmed on Tuesday as a North Korean
missile launch sapped investors' appetite for risk, with the benchmark 10-year yield
falling to zero for the first time in over four months.
    The 10-year cash JGB yield inched down half a basis point to zero
percent for the first time since April 19.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold jumped to its highest since November on Tuesday, extending the prior day's
rally above $1,300 per ounce as investors bought bullion as insurance against falling
prices of other assets after North Korea tested a ballistic missile over Japan.
    U.S. President Donald Trump warned that all options are on the table for the United
States to respond to North Korea's new show of force.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    China's steel rebar futures closed nearly flat on Tuesday after a slide during
morning trade, with investors still wondering whether a recent rally is sustainable
amid uncertainty over future prospects for exports to the United States.
    The most-active rebar on the Shanghai Futures Exchange SRBcv1 ended almost flat at
3,882 yuan ($587.84) a tonne on Tuesday. It pulled back from as low as 3,839 yuan a
tonne before the market closed in afternoon.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Copper rallied to its highest in three years on Tuesday as inventories in London
and Shanghai fell and the dollar sank after North Korea raised geopolitical tensions by
launching a missile that flew over northern Japan.
    Benchmark copper CMCU3 jumped 1.9 percent to close at $6,791.50 tonne. It earlier
touched $6,843.50, a level last seen in September 2014.
    For a full report, click on
    
    - - - -
    
    OIL
    
    U.S. gasoline futures jumped 4 percent while crude prices were mixed Tuesday after
a hurricane shut down 16 percent of the country's refining capacity, curbing fuel
production and further bloating crude inventories.
    At least 3 million bpd of refining capacity is offline, or more than 16 percent of
total U.S. capacity, based on company reports and Reuters estimates. The Gulf is home
to nearly half of U.S. refining capacity. 
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures fell by nearly 1 percent on Tuesday evening, hitting
their lowest in a week under pressure from weakness in related edible oils as traders
took profits ahead of a long holiday weekend.
    The benchmark palm oil contract for November delivery on the Bursa
Malaysia Derivatives Exchange fell 0.9 percent to 2,713 ringgit ($636.03) by the close.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures ended down 1.6 percent on Tuesday, with the dollar
hitting a four-month low against the yen after North Korea fired a missile over
northern Japan, stoking worries of fresh tension between Washington and Pyongyang.
    North Korea fired a ballistic missile over Japan's northern Hokkaido island into
the sea early on Tuesday, prompting warnings for residents to take cover while
provoking a sharp reaction from Prime Minister Shinzo Abe and other leaders.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)

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