January 23, 2018 / 9:25 PM / a month ago

UPDATE 1-Asia Morning Call-Global Markets

 Stock Markets                  Net Chng    Stock Markets                    Net Chng
 S&P/ASX 200**   6,037.00       45.10       NZX 50**            8,325.05     17.42
 DJIA**          26,210.81      -3.79       NIKKEI**            24,124.15    307.82
 Nasdaq**        7,460.28       52.257      FTSE**              7,731.83     16.39
 S&P 500**       2,839.13       6.16        Hang Seng**         32,930.7     537.29
 SPI 200 Fut     6,003.0        17.0        STI**               3,592.08     22.65
 SSEC**          3,546.9816     45.62       KOSPI**             2,536.60     34.49
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 Bonds                          Net Chng    Bonds                            Net Chng
 JP 10 YR Bond   0.073          -0.001      KR 10 YR Bond       2.658        0.009
 AU 10 YR Bond   2.811          -0.013      US 10 YR Bond       2.6149       -0.048
 NZ 10 YR Bond   2.955          -0.04       US 30 YR Bond       2.8945       -0.033
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 Currencies                     Net Chng                                     Net Chng
 SGD US$         1.3176         -0.001      KRW US$             1,073.72     5.32
 AUD US$         0.7998         -0.0019     NZD US$             0.7355       0.0029
 EUR US$         1.2295         0.0035      Yen US$             110.3        -0.61
 THB US$         31.79          -0.05       PHP US$             51.055       0.056
 IDR US$         13,320         -27         INR US$             63.75        -0.13
 MYR US$         3.925          -0.008      TWD US$             29.402       -0.03
 CNY US$         6.4084         -0.0035     HKD US$             7.8186       0.0004
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 Commodities                    Net Chng                                     Net Chng
 Spot Gold       1,340.81       7.11        Silver (Lon)        17.05        0.04
 U.S. Gold Fut   1,340.8        8.9         Brent Crude         70.15        1.12
 Iron Ore        CNY521.5       -6.5        TRJCRB Index        196.9392     0.7224
 TOCOM Rubber    JPY205.9       -0.7        LME Copper          6,901        -167
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    ** indicates closing price 
    All prices as of 2105 GMT
    
    EQUITIES

    GLOBAL - World stock markets broadly edged higher on Tuesday, with the U.S. market
getting a lift from upbeat earnings from companies such as Netflix, while the U.S.
dollar slipped to a three-year low against a basket of major currencies.
    Helping the positive tone for stocks was relief over Monday's temporary U.S.
government funding deal, which boosted confidence about global growth and corporate
earnings.
    For a full report, click on
    
    - - - -
    
    NEW YORK - U.S. stocks advanced on Tuesday, as strong results from Netflix helped
lift the S&P and Nasdaq Composite, but declines in Johnson & Johnson and Procter &
Gamble kept the Dow Industrials in check.
    The Dow Jones Industrial Average fell 17.21 points, or 0.07 percent, to
26,197.39, the S&P 500 gained 4.38 points, or 0.15 percent, to 2,837.35 and the
Nasdaq Composite added 41.32 points, or 0.56 percent, to 7,449.36.
    For a full report, click on
    
    - - - -
    
    LONDON - European shares rose to new highs on Tuesday after U.S. senators struck a
deal to end a three-day government shutdown, while earnings updates were also in focus.
    Euro zone stocks reached their highest in a decade, with Germany's DAX
 jumping to a fresh record of just over 13,596 points. The DAX ended 0.7
percent higher, while the pan-European STOXX 600 closed the session up 0.1
percent.
    For a full report, click on

    - - - -
    
    TOKYO - Japan's Nikkei share average on Tuesday ended at its highest in more than
26 years, with real estate and precision machinery stocks leading the gains.
    The Nikkei finished up 1.3 percent at 24,124.15. Earlier in the session, it
touched 24,129.34, its highest intraday level since November 1991.
    For a full report, click on
    
    - - - -
    
    SHANGHAI - China stocks extended a rally on Tuesday to fresh two-year peaks,
underpinned by continued gains in banking and real estate firms.
    At the close, the Shanghai Composite index was up 45.62 points or 1.3
percent at 3,546.98.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - Australian shares are poised to edge higher on Wednesday, inspired by
gains on Wall Street, while weaker iron ore and base metal prices might weigh down
material stocks.
    The local share price index futures rose 0.3 percent or 17 points to
6,003, a 34-point discount to the underlying S&P/ASX 200 index close. The
benchmark rose 45.1 points on Tuesday.
    For a full report, click on
    
    - - - -
    
    SEOUL - South Korea's KOSPI stock index rose on Tuesday.
    At 06:30 GMT, the KOSPI was up 34.49 points or 1.38 percent at 2,536.60. The
benchmark index ended at its highest since Nov. 24, 2017 as U.S. government shutdown
ended, boosting investor sentiment. The index was also supported by strong gains in
major IT companies, especially LG Display, whose OLED outlook offset
earnings gloom. The company's shares rose nearly 6 percent on Tuesday.
    For a full report, click on
    
    - - - -
    
    FOREIGN EXCHANGE

    NEW YORK - The dollar slipped to a fresh three-year low against a basket of
currencies on Tuesday after data showed euro zone consumer confidence jumped much more
than expected in January, underlining the strong momentum in the euro zone economy.
    The dollar index, which measures the greenback against six rival currencies,
was down 0.34 percent at 90.094, after slipping as low as 90.096, its lowest since
December 2014.
    For a full report, click on

    - - - -
    
    CHINA - China's yuan firmed against the U.S. dollar on Tuesday after the central
bank set its midpoint fixing at the strongest in more than two years while the
greenback remained vulnerable.
    The strength in the yuan fixing lifted the spot rate higher. The onshore yuan
 opened at 6.4000 per dollar and was changing hands at 6.4027 at midday, 23
pips firmer than the previous late session close but 0.03 percent softer than the
midpoint.
    For a full report, click on
    
    - - - -
    
    AUSTRALIA - The Australian and New Zealand dollars took a small step back on
Tuesday after news of U.S. tariffs sparked fears of a global trade war, offseting
upgrades to the world growth outlook and a deal to re-open the U.S. government.
    As a result the Aussie dropped back to $0.7997, from a top of $0.8029. The
currency had already run into offers above $0.8030 and needs to end a day above the
$0.8000 barrier to keep its recent uptrend going.
    For a full report, click on
    
    - - - -
    
    SEOUL - The Korean won was tentative while bond yields fell.
    In offshore trading, the won was quoted at 1,069.61 per U.S. dollar, down
0.07 percent from the previous day, while in one-year non-deliverable forwards
 it was being transacted at 1,059.75 per dollar.
    For a full report, click on
    
    - - - -
    
    TREASURIES
    
    NEW YORK - U.S. Treasury debt yields slid on Tuesday, in line with declines in
Japanese government bond yields, after the Bank of Japan kept interest rate targets
unchanged and its top official quashed speculation of a move away from an easy monetary
policy.
    Benchmark U.S. 10-year yields, which move inversely to prices, fell for the first
time in five days, while those on 30-year bonds sank to a one-week low.
    For a full report, click on
    
    - - - -
    
    LONDON - The premium investors' demand for holding Spanish bonds over benchmark
German peers fell to its lowest level since 2010 on Tuesday as recent ratings upgrades
for Spain and Greece, and solid demand at Spanish bond sale, bolstered sentiment.
    Spanish bonds were in strong demand on Tuesday. The yield on Spain's outstanding
10-year bond dropped to seven-month lows while there was over 43 billion
euros of demand for a sale of new 10-year Spanish bonds in what is potentially the
largest ever order book for a European bond sale.
    For a full report, click on
    
    - - - -
    
    TOKYO - Japanese government bond prices edged up on Tuesday after the Bank of Japan
kept its monetary policy on hold and largely maintained its economic projections,
dropping no hint of a possible exit from its stimulus.
    The 10-year JGB futures price rose 0.10 point to 150.47 while the
benchmark cash 10-year JGB yield dipped 0.5 basis point to 0.070 percent
, slipping further from a six-month high of 0.090 percent set on
Thursday.
    For a full report, click on
 
    
    COMMODITIES
    
    GOLD

    Gold prices rose on Tuesday as the U.S. dollar fell to fresh three-year lows, but
an end to uncertainty created by a three-day U.S. government shutdown capped gains.
    Spot gold was up 0.3 percent at $1,337.36 an ounce at 1:38 p.m. EST (1838
GMT) after touching a one-week high of $1,339.09, while U.S. gold futures for
February delivery settled up $4.80, or 0.4 percent, at $1,336.70 per ounce.
    For a full report, click on
    
    - - - -
    
    IRON ORE
    
    Chinese iron ore futures dropped 4 percent on Tuesday, pressured by slow demand in
the world's top consumer that has helped inflate stockpiles at the country's ports to a
record above 150 million tonnes.
    The most-traded iron ore for May delivery on the Dalian Commodity Exchange
 fell as much as 4.8 percent to 517 yuan ($81) a tonne, its lowest since Dec.
29, before closing down 4 percent at 521.50 yuan.
    For a full report, click on
    
    - - - -
    
    BASE METALS
    
    Copper prices fell to their lowest in a month on Tuesday after rising inventories
showed healthy supplies of refined metal.
    Lead, however, climbed to the highest since 2011 after stocks declined.
    For a full report, click on
    
    - - - -
    
    OIL
    
    Oil rose more than 1 percent on Tuesday, with benchmark Brent crude hitting $70 a
barrel for the first time in a week, boosted by healthy world economic growth prospects
and expectations for continued production curbs by OPEC, Russia and their allies.
    Brent crude futures settled up 93 cents, or 1.4 percent, to $69.96, not far
off the three-year high of $70.37 reached on Jan. 15.
    For a full report, click on
    
    - - - -
    
    PALM OIL
    
    Malaysian palm oil futures rose more than 1 percent in afternoon trade on Tuesday,
rebounding from a sharp decline earlier in the session, lifted by bullish sentiment on
falling production.
    The benchmark palm oil contract for April delivery on the Bursa Malaysia
Derivatives Exchange was up 0.8 percent at 2,494 ringgit ($635.41) a tonne at the close
for a second consecutive daily gain.
    For a full report, click on
    
    - - - -
    
    RUBBER
    
    Benchmark TOCOM rubber futures inched up on Tuesday, buoyed by an overnight rally
in oil prices.
    The Tokyo Commodity Exchange rubber contract for June delivery,
was up 0.9 yen at 210.1 yen ($1.89) per kg, as of 0040 GMT, after settling unchanged in
the previous session.
    For a full report, click on
    
    - - - -

 (Bengaluru Bureau; +91 80 6749 1130)
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