September 27, 2017 / 9:40 PM / a year ago

UPDATE 1-Asia Morning Call-Global Markets

    Sept 28(Reuters) - 
 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   5664.283       -6.7        NZX 50**            7,950.52     36.74
 DJIA**          22,340.71      56.39       NIKKEI**            20,267.05    -63.14
 Nasdaq**        6,453.26       73.099      FTSE**              7,313.51     27.77
 S&P 500**       2,507.04       10.20       Hang Seng**         27,642.43    129.42
 SPI 200 Fut     5660.0         20          STI**               3,236.15     24.11
 SSEC**          3,345.4633     1.88        KOSPI**             2,372.57     -1.75
 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.051          0           KR 10 YR Bond       2.359        0.049
 AU 10 YR Bond   2.85           0.055       US 10 YR Bond       2.3121       0.083
 NZ 10 YR Bond   2.995          0.01        US 30 YR Bond       2.864        0.094
 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3607         0.0048      KRW US$             1,144.77     0.02
 AUD US$         0.7850         -0.0001     NZD US$             0.7199       0.0001
 EUR US$         1.1749         0.0006      Yen US$             112.79       -0.02
 THB US$         33.3           0           PHP US$             50.983       0.023
 IDR US$         13,435         60          INR US$             65.71        0.255
 MYR US$         4.22           0.015       TWD US$             30.303       0.087
 CNY US$         6.6425         0.0029      HKD US$             7.8091       -0.0002
 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,280.72       -12.79      Silver (Lon)        16.74        -0.027
 U.S. Gold Fut   1,285.6        -16.1       Brent Crude         57.67        -0.77
 Iron Ore        CNY465         -2          TRJCRB Index        183.8605     0.4645
 TOCOM Rubber    JPY218         0.3         LME Copper          6,445.5      32.5
    ** indicates closing price 
    All prices as of 21:03 GMT

 GLOBAL - The dollar on Wednesday climbed to a one-month high against a basket of
currencies, while financial stocks and Treasury yields rose after strong economic data
helped boost expectations for a U.S. Federal Reserve interest rate hike in December.
    U.S. small-cap stocks rallied on the expectation of lower taxes, tallying their
biggest single-day gain since March..
    For a full report, click on
    - - - -
    NEW YORK - U.S. stocks rose on Wednesday as gains in financial shares were powered
by growing expectations for a December interest rate hike and on hopes President Donald
Trump's administration may be making progress on a tax plan.
    New orders for U.S.-made capital goods increased more than expected in August and
shipments maintained their upward trend, pointing to underlying strength in the
    For a full report, click on
    - - - -
    LONDON - Banks led European stocks to a 10-week high on Wednesday as a tax overhaul
plan backed by President Donald Trump fuelled hope in a revival of the "Trumpflation"
trade, a bet on rising rates, inflation and securities prices in the United States and
    The pan-European STOXX 600, boosted by a falling euro, gained 0.4 percent
to hit its highest level since July 20.
    For a full report, click on

    - - - -
    TOKYO - Japanese stocks fell to 1-1/2-week lows on Wednesday as ex-dividend share
price adjustments dented high yielders such as automakers, offsetting gains in tech
firms which tracked strength in their U.S. counterparts.
    The Nikkei dropped 0.3 percent, or 63.14 points, to 20,267.05, the weakest
level since Sept. 15, moving away from a two-year high of 20,481.27 hit last week.
    For a full report, click on
    - - - -
    SHANGHAI - Chinese stocks held steady on Wednesday, bolstered by strong gains in
resources shares after upbeat industrial profit data and a robust earnings forecast by
a major steelmaker helped to ease worries about slowing economic growth.
    Investor confidence was also underpinned by signs of further restructuring in the
bloated state sector, and a conviction that Beijing will safeguard market stability
ahead of a highly sensitive Communist Party Congress next month.
    For a full report, click on
    - - - -
    AUSTRALIA - Australian shares are poised to open in positive territory on Thursday
on the back of rising iron ore and copper prices, in line with a strong overnight
finish on Wall Street. 
    The local share price index futures rose 0.36 percent, or 20 points, to
5,661, a 3.3-point discount to the underlying S&P/ASX 200 index close. The
benchmark fell 0.1 percent on Wednesday. 
    For a full report, click on
    - - - -
    SEOUL - The Korea Composite Stock Price Index (KOSPI) ended down 0.1
percent at 2,372.57 points.
    Foreign investors were net sellers, unloading 282.4 billion won ($247.72 million)
worth of stocks. They also trimmed a net one trillion won worth of local treasury
bonds, the head of a local banks' bond trading team said.
    For a full report, click on
    - - - -

    NEW YORK - The dollar rose to a more than one-month high against a basket of
currencies on Wednesday, as optimism about U.S. fiscal reforms boosted sentiment in
favor of the greenback.
    The dollar index, which tracks the greenback against six major currencies,
was up 0.54 percent at 93.469, after rising to 93.607, the highest since August 23.
    For a full report, click on

    - - - -
    SHANGHAI - China's yuan fell to its weakest level in nearly a month on Wednesday
but recouped its losses by midday as the market grew nervous over how much further the
central bank will allow the currency to weaken.
    Since hitting a 21-month high on Aug. 8, the yuan had lost more than 2,000 pips
through Wednesday morning.
    For a full report, click on
    - - - -
    AUSTRALIA - The Australian dollar wallowed near six-week lows on Wednesday as the
ever-mounting risk of a December rate rise from the Federal Reserve gave a lift to its
U.S. counterpart.
    The Aussie dollar had settled at $0.7867, having sunk 0.6 percent
overnight from $0.7936. That left it uncomfortably close to chart support at the August
low of $0.7808 and a break there would deal a major bearish blow.
    For a full report, click on
    - - - -
    SEOUL - The South Korean won closed at a six-week low and stocks slipped on
Wednesday as the U.S. Federal Reserve's signal it is on course to raise rates in
December and elevated North Korean risks sapped sentiment.
    The won was quoted at 1,140.7 to the dollar at the conclusion of onshore
trade, its weakest closing level since August 18. It was down 0.3 percent on Tuesday's
close of 1,136.0.
    For a full report, click on
    - - - -
    NEW YORK - U.S. Treasury yields rose to months- and years-long highs on Wednesday
after a better-than-expected reading on U.S. durable goods orders that suggested
inflation may be picking up and the Federal Reserve may be taking a stronger path of
rate increases than currently priced into the market.
    New orders for U.S.-made capital goods rose 1.7 percent in August, despite an
expected drag from Hurricanes Harvey and Irma that devastated much of the southern
United States. 
    For a full report, click on
    - - - -
    LONDON - Euro zone bond yields rose sharply on Wednesday after U.S. Federal Reserve
chief Janet Yellen confirmed the outlook for further rate rises and as markets braced
for President Donald Trump's administration to outline a new tax plan.
    Two-year U.S. Treasury yields climbed to their highest level since October 2008
 after Yellen said late on Tuesday it would be "imprudent" to keep rates on
hold until U.S. inflation hit 2 percent.
    For a full report, click on
    - - - -
    TOKYO - Japanese government bonds slipped on Wednesday as buying operations by the
Bank of Japan drew strong selling interest from investors, who were bracing for the
announcement of a tax plan from U.S. President Donald Trump.
    The yield on the 10-year JGB rose 2.5 basis points to 0.050 percent,
the highest since mid-August.
    For a full report, click on
    Rising expectations that the U.S. Federal Reserve will raise interest rates again
this year drove gold to a month low on Wednesday, after its biggest one day loss in
almost two years during the previous session.
    Platinum meanwhile hit parity with palladium for the first time since 2001 on
diverging demand expectations. Platinum is used more heavily in the diesel engines that
have fallen out of favour since 2015's Volkswagen emissions-rigging scandal.
    For a full report, click on
    - - - -
    China's iron ore and steel futures climbed on Wednesday after some cities in the
north of the country announced an early start to winter restrictions on mill output,
though coke and coking coal both continued to fall on worries over faltering demand.
    The most-traded construction steel futures contract on the Shanghai Futures
Exchange closed up 1.74 percent at 3,679 yuan ($554.27) per tonne, for its
biggest one-day gain since Sept. 4.
    For a full report, click on
    - - - -
    Copper closed higher on Wednesday, clawing back some lost ground after five
straight days of decline as expectations that buoyant demand would outstrip supply in
the longer term tempted some buyers back to the market.
    Prices were also supported by appetite for cyclical assets in the wider markets,
with world stocks rising as Republicans rolled out their U.S. tax reform plan. A
stronger dollar capped gains, however.
    For a full report, click on
    - - - -
    Brent prices fell on Wednesday while U.S. crude rallied, after oil stockpiles in
the world's top consumer unexpectedly drew down with refiners coming back online
following Hurricane Harvey last month.
    Brent slipped from 26-month highs to settle down 54 cents, or nearly 1
percent, at $57.90 a barrel, while U.S. West Texas Intermediate crude (WTI)
ended 26 cents, or 0.5 percent, higher at $52.14 but stayed below five-month highs. The
market was hurt by strength in the dollar, which often moves in the inverse direction
of oil prices.
    For a full report, click on
    - - - -
    Malaysian palm oil futures erased earlier gains to end the trading day slightly
lower on Wednesday evening, tracking overnight losses in soyoil on the Chicago Board of
    The benchmark palm oil contract for December delivery on the Bursa
Malaysia Derivatives Exchange fell 0.1 percent to 2,747 ringgit ($651) a tonne at the
close of trade, its third drop in four sessions.
    For a full report, click on
    - - - -
    Benchmark Tokyo rubber futures hit a one-week high on Wednesday, buoyed by late
recovery in Shanghai futures and yen's decline against the dollar after comments by the
U.S. Federal Reserve chief boosted bets on another rate hike, brokers said.
    The Tokyo Commodity Exchange rubber contract for March delivery,
finished 1.7 yen higher at 217.7 yen ($1.93) per kg. Earlier in the session, it touched
219.1 yen, its highest since Sept. 19.
    For a full report, click on
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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