August 31, 2017 / 9:43 PM / 23 days ago

UPDATE 1-Asia Morning Call-Global Markets

    Sept 1 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,7714.522     44.801      NZX 50**            7,817.1      41.9
 DJIA**          21,948.1       55.67       NIKKEI**            19,646.24    139.7
 Nasdaq**        6,368.309      66.423      FTSE**              7,430.62     65.36
 S&P 500**       2,457.59       11.29       Hang Seng**         27,970.3     -124.31
 SPI 200 Fut     5,693          5.00        STI**               3,277.26     12.00
 SSEC**          3,360.9959     -2.63       KOSPI**             2,363.19     -9.1
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.007          0.001       KR 10 YR Bond       2.261        0.017
 AU 10 YR Bond   2.693          -0.036      US 10 YR Bond       2.1205       -0.024
 NZ 10 YR Bond   2.91           -0.02       US 30 YR Bond       2.727        -0.021
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3559         -0.0027     KRW US$             1,123.58     -0.27
 AUD US$         0.7947         0.0001      NZD US$             0.7175       -0.0003
 EUR US$         1.1916         0.0008      Yen US$             109.94       -0.02
 THB US$         33.17          0           PHP US$             51.149       -0.076
 IDR US$         13,342         -4          INR US$             63.93        -0.055
 MYR US$         4.269          0.0035      TWD US$             30.203       0.047
 CNY US$         6.5889         -0.003      HKD US$             7.8257       -0.0001
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,321.6        13.24       Silver (Lon)        17.566       0.186
 U.S. Gold Fut   1,326.5        12.4        Brent Crude         52.31        1.45
 Iron Ore        CNY575         16.5        TRJCRB Index        180.857      3.9826
 TOCOM Rubber    JPY218.5       -0.1        LME Copper          6,815        46
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--  
    ** indicates closing price 
    All prices as of 21:36 GMT
    
    EQUITIES

    GLOBAL -  U.S. stocks rose on Thursday after data showed domestic inflation
increased at its slowest pace since late 2015, boosting expectations that the Federal
Reserve will hold off from increasing interest rates again this year.
    The dollar surrendered early gains against a basket of major currencies, and gold
prices rose as simmering tensions on the Korean peninsula supported sentiment.
    For a full report, click on
    
    - - - -
    
    NEW YORK -  U.S. stocks closed higher on Thursday as investors reacted to economic
data and took cautious hope from Washington's latest promises for long-awaited details
of a tax reform plan.
    The S&P 500 has been building momentum this week, notching five days of gains for
the first time in three months as investors showed confidence a day after the benchmark
closed above its 50-day moving average. This was a technical level that acted as
resistance in the past week.
    For a full report, click on
    
    - - - -
    
    LONDON - European shares rose for a second day on Thursday following heavy losses
on jitters over North Korea but posted a third straight month of decline, while a
profit warning from Carrefour sank the retail sector.
    The pan-European STOXX 600 ended up 0.8 percent, boosted by strong gains
for miners and construction stocks, while the retail sector dropped 1.3 percent.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei share average rose to two-week highs on Thursday, after
bright U.S. economic data pushed up the dollar against the yen, which in turn lifted
cyclical stocks such as automakers and financial companies.
    The Nikkei finished up 0.7 percent at 19,646.24 after reaching as high as
19,687.99, its loftiest level since Aug. 17. For the month, it slipped 1.4.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - Shanghai stocks eased on Thursday as investors took a breather after a
recent rally, but scored their third straight month of gains thanks to robust corporate
earnings that led fund managers to boost their equity exposure.
    The blue-chip CSI300 index fell 0.3 percent, to 3,822.09 points, while
the Shanghai Composite Index shed 0.1 percent to 3,360.81 points.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are expected to open higher on Friday, taking cues
from an upbeat close on Wall Street in the previous session, while strong metal prices
are likely to lift miners.
    U.S. stocks ended higher on Thursday as investors took heart from economic data and
U.S. Treasury Secretary Steven Mnuchin's comments that President Donald Trump's
administration has a detailed plan on tax reform and is on track to implement it by
year-end.
    In the commodities market, Chinese rebar steel futures climbed nearly 2 percent and
copper prices rose to near three-year highs after data showed growth in China’s
manufacturing sector sped up in August.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korean shares closed weaker on Thursday as foreign investors took
profits, notably in the transport equipment sector following a court ruling against Kia
Motors 000270.KS in a labour dispute.
    The Korea Composite Stock Price Index (KOSPI) closed down 0.3 percent at
2,363.19 points.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The dollar slipped broadly on Thursday after unimpressive U.S. economic
data failed to boost expectations for another Federal Reserve rate increase this year,
while month-end investment flows and caution ahead of Friday's U.S. jobs report also
weighed.
    The Commerce Department said consumer spending, which accounts for more than
two-thirds of U.S. economic activity, increased 0.3 percent last month after a 0.2
percent gain in June. Economists had forecast consumer spending rising 0.4 percent in
July.
    For a full report, click on

    - - - -
    
    CHINA - China's yuan eased on Thursday but posted its biggest monthly gain at the
month-end, in percentage terms, since the Chinese currency was revalued and taken off a
fixed dollar peg in 2005.
    Spot yuan opened at 6.5974 per dollar and settled at 6.5969 by the 4:30
p.m (0830 GMT) domestic close. It was 3 pips weaker than the previous late session
close but 0.06 percent firmer than the midpoint.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian dollar came off a one-month high on Thursday while its
New Zealand cousin languished at near three-month lows as the greenback gained after
strong U.S. economic data.
    The Australian dollar stood at $0.7902, down from Wednesday's high of
$0.7996.
    For a full report, click on
    
    - - - -
    
    SEOUL - The South Korean won KRW= weakened against a broadly stronger dollar on
Thursday.
    The won was quoted at 1,127.8 to the dollar at the conclusion of onshore
trade, down 0.3 percent compared to Wednesday's close of 1,124.2.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasury prices gained on Thursday after consumer spending data
showed continuing low inflation, and as tensions with North Korea kept up demand for
the safe haven bonds.
    The core personal consumption expenditures (PCE) price index increased 1.4 percent
in the 12 months through July, the smallest year-on-year increase since December 2015.
    For a full report, click on
    
    - - - -
    
    LONDON - The euro and government bond yields fell and stocks rallied on Thursday
after Reuters reported that the single currency's rapid gains are worrying a growing
number of ECB policymakers, raising the chance asset purchases will be phased out only
slowly.
    The European Central Bank's asset-purchase scheme is due to expire at the end of
2017 but formal talks over its future are only beginning, meaning the ECB is highly
unlikely to take any decision at next Thursday's rate meeting, the sources told
Reuters.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bond prices edged lower on Thursday as a rise in
domestic equities dented the appeal of debt, although the short-end held firm after a
two-year auction managed to attract ample demand.
    The five-year yield rose half a basis point to minus 0.135 percent.
    The 10-year yield was up 1 basis point at 0.010 percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices rose on Thursday, nearing Tuesday's 9-1/2-month high as the dollar
retreated after data showed the pace of U.S. annual inflation slowed, while rising
security concerns triggered by tensions on the Korean peninsula provided safe-haven
support.
    The dollar index weakened after data showed U.S. annual inflation rose at
its slowest pace since late 2015, which diminished expectations of an interest-rate
increase by the Federal Reserve in December. The greenback fell further after U.S.
Treasury Secretary Steven Mnuchin commented on tax reform. 
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese rebar steel futures rose nearly 2 percent on Thursday and posted their
fourth monthly gain in a row after data showed growth in the country's manufacturing
sector sped up in August, underpinning the outlook for steel demand.
    Iron ore futures climbed almost 4 percent and also ended August higher, rising for
a third straight month.
    China's Purchasing Managers' Index rose to 51.7 this month from July's 51.4,
topping market expectations and staying well above the 50-point mark that separates
growth from contraction on a monthly basis.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Copper prices rose to their highest in almost three years on Thursday, taking gains
in August to 6.6 percent, after an acceleration in Chinese manufacturing boosted the
outlook for demand in the world's top metals consumer.
    Copper was set to gain for a third consecutive month with aluminium, nickel and
zinc on track for their biggest monthly increases since September 2012.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Gasoline futures surged more than 13 percent on Thursday, and crude oil settled
nearly 3 percent higher, as almost a quarter of U.S. refining capacity remained offline
and traders scrambled to reroute millions of barrels of fuel.
    U.S. gasoline futures have rallied more than 28 percent from the previous
week to a two-year high above $2 a gallon, buoyed by fears of a fuel shortage days
ahead of the U.S. Labor Day weekend's traditional surge in driving. Gasoline settled up
25.52 cents, or 13.54 percent, at $2.1399.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures fell for a fourth straight session on Wednesday, ahead
of a long weekend in Malaysia, due to expectations of a rise in inventories.
    The benchmark palm oil contract for November delivery on the Bursa
Malaysia Derivatives Exchange was down 0.3 percent at 2,706 ringgit ($633.87) by market
close, after hitting its lowest since Aug. 21 at 2,703 ringgit earlier in the session.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures ended 1.2 percent higher on Thursday as the dollar
remained firm near a two-week peak against the yen on the back of strong U.S. economic
data, dealers said.
    The Tokyo Commodity Exchange rubber contract for February delivery,
 finished 2.5 yen higher at 218.6 yen ($1.98) per kg.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)

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