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UPDATE 1-Asia Morning Call-Global Markets
September 5, 2017 / 9:52 PM / 20 days ago

UPDATE 1-Asia Morning Call-Global Markets

    Sept 6 (Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5,706.233      4.231       NZX 50**            7,777.4      -30.820
 DJIA**          21,753.31      -234.25     NIKKEI**            19,385.81    -122.44
 Nasdaq**        6,375.574      -59.757     FTSE**              7,372.92     -38.55
 S&P 500**       2,457.85       -18.70      Hang Seng**         27,741.35    1.09
 SPI 200 Fut     5,662          -30.00      STI**               3,251.26     20.29
 SSEC**          3,385.1293     5.55        KOSPI**             2,326.62     -3.03
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.023          0.011       KR 10 YR Bond       2.308        0
 AU 10 YR Bond   2.638          -0.032      US 10 YR Bond       2.063        -0.094
 NZ 10 YR Bond   2.835          -0.04       US 30 YR Bond       2.6813       -0.087
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3530         -0.0038     KRW US$             1,131.57     0.05
 AUD US$         0.7993         -0.0003     NZD US$             0.7238       0.0005
 EUR US$         1.191          -0.0002     Yen US$             108.71       -0.09
 THB US$         33.14          -0.01       PHP US$             51.119       0.046
 IDR US$         13,337         -4          INR US$             64.1         0
 MYR US$         4.2585         -0.0105     TWD US$             30.07        -0.031
 CNY US$         6.535          0.0076      HKD US$             7.8258       0
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,338.36       4.06        Silver (Lon)        17.89        0
 U.S. Gold Fut   1,344.9        14.5        Brent Crude         53.14        0.8
 Iron Ore        CNY559         -12         TRJCRB Index        182.3418     1.3958
 TOCOM Rubber    JPY231.8       3.2         LME Copper          6,861        -56
 ---------------------------------------------------------------------------------------
--  
    ** indicates closing price 
    All prices as of 21:36 GMT
    
    EQUITIES

    GLOBAL -  Wall Street stocks fell on Tuesday, Treasury yields recorded their
steepest one-day drop since May and the dollar slipped as investors shied away from
risk following North Korea's biggest nuclear bomb test yet.
    The drop in major U.S. markets, which had been closed for Monday's Labor Day
holiday, followed that day's global sell-off amid international condemnation of
Sunday's nuclear test.
    For a full report, click on
    
    - - - -
    
    NEW YORK - U.S. stocks sank on Tuesday, with the S&P 500 stumbling to its biggest
single-day loss in about three weeks, as investors weighed fresh tensions with North
Korea.
    North Korea on Sunday conducted its sixth nuclear test, which it said was of an
advanced hydrogen bomb for a long-range missile, marking a dramatic escalation of the
regime's stand-off with the United States and its allies.
    For a full report, click on
    
    - - - -
    
    LONDON - European shares inched lower on Tuesday dragged down by losses in the
heavyweight financial sector as worries over North Korea persisted and caution grew
before a European Central Bank policy meeting later in the week.
    The pan-European STOXX 600 index fell 0.1 percent, giving up the slight
gains seen earlier in the session, while euro zone blue chips declined 0.3
percent.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei share average brushed one-week lows in choppy trade on
Tuesday as tensions on the Korean peninsula sapped risk appetite.
    The Nikkei shed 0.6 percent to end at 19,385.81 after initially opening
slightly higher. It fell as low as 19,354.59, its weakest level since Aug. 29. Index
heavyweight Fast Retailing dropped on weak sales.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - Chinese shares inched higher for the third session to fresh 20-month
highs, apparently unfazed by tensions over North Korea, and bolstered by expectations
economic growth will largely remain solid through year-end despite tighter policy.
    Investors are also adding to positions on expectations that further reforms will be
announced after a Communist Party Congress that starts in mid-October.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are expected to open subdued on Wednesday, mirroring
Wall Street which stumbled to its biggest intraday loss in about three weeks. 
    U.S. stocks, which had their first regular trading day since North Korea conducted
its sixth nuclear test on Sunday, were weighed down by the fresh tensions in the Korean
peninsula.
    For a full report, click on
    
    - - - -
    
    SEOUL - The Korea Composite Stock Price Index (KOSPI) closed down 0.1
percent at 2,326.62 points, more than a three-week low.
    Offshore investors sold a net 213.4 billion won ($188.80 million) worth of KOSPI
shares for the day.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The U.S. dollar was on course for its biggest daily percentage decline
against the safe-haven yen in more than three months on Tuesday on concern about North
Korea's largest nuclear test and a Federal Reserve official's comments about low U.S.
inflation.
    The dollar fell as much as 1 percent against the Japanese currency to 108.65 yen,
its lowest since Aug. 29 after North Korea conducted its sixth and biggest nuclear test
two days ago. The dollar was last set for its biggest daily drop against the yen since
mid-May.
    For a full report, click on

    - - - -
    
    CHINA - China's yuan moved more sharply than usual on Tuesday, at one point
strengthening enough for 2017's gains to more than erase last year's losses, but then
it fell back late in the day.
    The difference between the day's strongest and weakest points was 399 pips, while
on most recent days the range has been around 300 pips.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian dollar edged towards one-month highs on Tuesday after
upbeat data on exports and government spending bolstered views the country's economy
rebounded smartly in the second quarter.
    The Australian dollar was hovering around $0.7960, up from Monday's
$0.7943 and within sight of $0.7997 touched last week, the highest since Aug. 1.
    For a full report, click on
    
    - - - -
    
    SEOUL - The South Korean won ended slightly firmer on Tuesday, off the
previous day's two-week low but shares finished weaker, as North Korean tensions kept
market sentiment subdued.
    The won was quoted at 1,131.1 to the dollar at the conclusion of onshore
trade, up 0.2 percent compared with Monday's close of 1,133.0.    
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - The U.S. Treasuries market rallied on Tuesday, with the 10-year yield
hitting a near 10-month low, as worries about further nuclear tests by North Korea and
concerns about Irma, a powerful storm heading toward the southern United States,
spurred safety bids. 
    Yields on Treasury bills due in October remained elevated as investors await
developments on whether U.S. lawmakers would reach a deal to increase the federal debt
ceiling in a bid to avert a default.
    For a full report, click on
    
    - - - -
    
    LONDON - Euro zone government bond yields dipped on Tuesday as attention shifted
from tensions over North Korea to an approaching European Central Bank meeting that
could shed light on the timing for an unwinding of massive monetary stimulus.
    The latest worries over North Korea's nuclear programme have bolstered demand for
safe bonds in recent weeks. Its sixth and most powerful nuclear test at the weekend
lent further support to fixed income on Monday, but overall the impact has been
limited. 
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bond prices edged lower on Tuesday with an auction for
10-year debt drawing lukewarm demand from investors.
    The 10-year JGB yield was half a basis point higher at minus 0.005
percent.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices climbed to a one-year high on Tuesday as the U.S. dollar eased and
safe-haven buying demand remained robust due to continued concerns over North Korea's
nuclear tests.
    Wall Street stocks fell as U.S. trading reopened for the first time since North
Korea's biggest nuclear bomb test yet, and the U.S. dollar and Treasury yields fell.

    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    China's iron ore futures dropped on Tuesday for the first time in four sessions
after a fire at a government-owned steel mill raised concerns that planned safety
inspections may be stricter, curbing demand as lines are shut for the review.
    Bengang Steel Plates Co on Friday shut more than one-third of the steel-making
capacity at its plant in the city of Benxi in China's northeastern province of
Liaoning. The fire shut 10,000 tonnes a day of pig iron output.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Copper touched a three-year high on Tuesday but closed lower after weak U.S.
factory orders prompted a pullback across industrial metals.
    Copper, aluminium, nickel and zinc are trading near multi-year highs after strong
Chinese demand, a weaker dollar and supply concerns sparked a surge of speculative
buying.    
    For a full report, click on
    
    - - - -
    
    OIL
    
    Crude oil prices rose and gasoline fell by about 3 percent on Tuesday as the
gradual restart of refineries in the U.S. Gulf that were shut by Hurricane Harvey
raised demand for crude and eased fears of a fuel supply crunch.
    Texas was edging towards recovery from the devastation of Harvey that hit its coast
late on Aug. 25, as shipping channels, oil pipelines and refineries restarted some
operations. At its peak, the hurricane knocked out almost a quarter of all U.S.
refining capacity. 
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures snapped four days of losses on Tuesday, tracking gains
in rival edible oils on the Chicago Board of Trade (CBOT) and China's Dalian Commodity
Exchange.
    By Tuesday's close, the benchmark palm oil contract for November delivery
on the Bursa Malaysia Derivatives Exchange had gained 2.25 percent to 2,768 ringgit
($649.99) a tonne, posting its biggest daily percentage gain since July 25.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark Tokyo rubber futures hit a more than three-month high on Tuesday as
Shanghai futures extended gains to touch their highest in over five months, while a
rally in industrial metals helped boost investor risk appetite, dealers said.

The Tokyo Commodity Exchange (TOCOM) rubber contract for February delivery,
 ended 0.7 yen higher at 228.6 yen ($2.09) per kg after earlier rising to
231.8 yen, the highest since May 24.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)

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