Asia Morning Call-Global Markets

Reuters
Mar 06
Asia Morning Call-Global Markets

March 5 (Reuters) -

Stock Markets

closing level)

Net Chng

Stock Markets

Net Chng

S&P/ASX 200**

8940.3

39.1

NZX 50**

13617.89

86.77

DJIA

47691.64

-1047.77

NIKKEI**

55278.06

1032.52

Nasdaq

22505.941

-301.543

FTSE**

10413.94

-153.71

S&P 500

6774.88

-94.62

Hang Seng**

25321.34

71.86

SPI 200 Fut

8780

-146

STI**

4846.56

33.81

SSEC**

4108.567

26.093

KOSPI**

5583.9

490.36

----------------------------------------------------------------------------------------

Bonds

Bonds

JP 10 YR Bond

2.1530

-0.0070

KR 10 YR Bond

3.593

-0.039

AU 10 YR Bond

4.8030

0.0010

US 10 YR Bond

4.1402

0.058

NZ 10 YR Bond

4.4750

0.0000

US 30 YR Bond

4.7538

0.037

----------------------------------------------------------------------------------------

Currencies

SGD US$

1.2826

0.0077

KRW US$

1,488.870

26.64

AUD US$

0.6979

-0.0096

NZD US$

0.5879

-0.0059

EUR US$

1.1585

-0.0048

Yen US$

157.7600

0.73

THB US$

31.7500

0.2

PHP US$

58.6810

0.346

IDR US$

16,875

-5

INR US$

91.7820

-0.315

MYR US$

3.9400

0.002

TWD US$

31.6830

-0.012

CNY US$

6.9121

0.017

HKD US$

7.8174

-0.0002

----------------------------------------------------------------------------------------

Commodities

Spot Gold

5068.0439

-67.2761

Silver (Lon)

81.7309

-1.6735

U.S. Gold Fut

5077.6

-57.1

Brent Crude

85.25

3.81

Iron Ore

738

-0.5

TRJCRB Index

--

--

TOCOM Rubber

368.2

-3.7

Copper

12841

-216.5

-----------------------------------------------------------------------------------------

** indicates closing price

All prices as of 1825 GMT

EQUITIES

GLOBAL - Equities fell on Wall Street and in Europe on Thursday and government bonds sold off, while the dollar climbed, as oil prices jumped on supply fears amid intensifying fighting on the sixth day of the U.S.-Israeli war with Iran.

MSCI's gauge of stocks across the globe .MIWD00000PUS fell 4.04 points, or 0.39%, to 1,027.55.

For a full report, click on MKTS/GLOB

- - - -

NEW YORK - Wall Street's main indexes fell on Thursday as the Middle East conflict entered its sixth day, raising concerns of fresh inflation pressures that could complicate the Federal Reserve's monetary policy decisions.

At 11:53 a.m. ET, the Dow Jones Industrial Average .DJI fell 786.98 points, or 1.61%, to 47,952.43, the S&P 500 .SPX lost 49.45 points, or 0.72%, to 6,820.05 and the Nasdaq Composite .IXIC lost 92.73 points, or 0.41%, to 22,714.76.

For a full report, click on .N

- - - -

LONDON - European shares fell on Thursday after a sharp rebound in the previous session, as the Middle East conflict showed no signs of easing and more tankers came under attack, threatening higher oil prices and a knock-on effect on the global economy.

The pan-European STOXX 600 .STOXX closed 1.3% lower, reversing an earlier gain of as much as 0.6%.

For a full report, click on .EU

- - - -

TOKYO - Japanese shares rose on Thursday, as the market tried to stabilise after a three-session losing streak sparked by the Middle East war, though gains were not enough to recoup the cumulative loss.

The Nikkei 225 Index .N225 gained 1.9% to close at 55,278.06, trimming gains from a 4.4% surge earlier in the day.

For a full report, click on .T

- - - -

SHANGHAI - China and Hong Kong stocks tracked rebounds in Asian markets on Thursday, as anxiety over the Middle East war was countered by investors' emboldened bets in Chinese tech shares after Beijing vowed to deepen investment in innovation.

China's blue-chip CSI300 Index .CSI300 closed up 1%, and the Shanghai Composite Index .SSEC added about 0.6%.

For a full report, click on .SS

- - - -

AUSTRALIA - Australian shares eked out modest gains on Thursday as investors picked up beaten-down bank, energy, and tech stocks, following a two‑day rout triggered by an escalating war in the Middle East.

The S&P/ASX 200 .AXJO climbed 0.4% to 8,940.30 points, after sliding 3.2% over the previous two sessions.

For a full report, click on .AX

- - - -

SEOUL - South Korea's benchmark KOSPI index .KS11 closed up 9.63% after surging as much as 12.2% on Thursday, swiftly erasing most of its worst-ever daily drop from a day earlier, buoyed by hopes for progress in U.S.-Iran diplomacy.

The benchmark KOSPI .KS11 closed up 490.36 points, or 9.63%, at 5,583.90 as of 0630 GMT, regaining most of Wednesday's 12.06% loss.

For a full report, click on KRW/

- - - -

FOREIGN EXCHANGE

NEW YORK - The dollar resumed its climb on Thursday, rebounding from a brief pullback from three-month highs, as an escalating conflict in the Middle East kept investors on edge and drove demand for safe-haven assets.

The dollar index =USD, which measures the greenback against a basket of six other currencies, was last up 0.5% at 99.257.

For a full report, click on USD/

- - - -

SHANGHAI - China's yuan rebounded from a one-month low on Thursday, after the central bank set its guidance at the strongest in nearly three years, a move seen as aimed at stabilising the market amid Middle East tensions and a key domestic meeting.

The onshore yuan CNY=CFXS traded 0.12% higher at 6.8865 per dollar as of 0205 GMT, with its offshore counterpart CNH=D3 at 6.8882.

For a full report, click on CNY/

- - - -

AUSTRALIA - The Australian and New Zealand dollars were back from the brink on Thursday as a sudden mood swing in global markets helped risk assets rally, offsetting an otherwise soft set of domestic economic data.

The Aussie was up at $0.7078 AUD=D3, having bounced 0.6% overnight and away from a low of $0.6985.

For a full report, click on AUD/

- - - -

SEOUL - The South Korean won fell on Thursday.

The won was quoted at 1,468.1 per dollar on the onshore settlement platform KRW=KFTC, 0.35% lower than its previous close at 1,462.9.

For a full report, click on KRW/

- - - -

TREASURIES

NEW YORK - U.S. Treasury yields rose for a fourth straight day on Thursday, as the widening war in Iran continued to put upward pressure on oil prices and stoked concern about rising inflation and its impact on Federal Reserve policy.

The yield on the benchmark U.S. 10-year Treasury note US10YT=TWEB rose 4.7 basis points to 4.129% after hitting a three-week high of 4.148%.

For a full report, click on US/

- - - -

LONDON - Euro zone government bonds dropped on Thursday, driving up yields, as investor concerns grew over the potential inflationary shock from the widening Middle East war.

German 10-year Bund yields DE10YT=RR rose 9.5 basis points (bps) to 2.84%, their highest since February 9.

For a full report, click on GVD/EUR

- - - -

TOKYO - Japanese government bond (JGB) yields rose on Thursday as investors assessed the potential risk of a pickup in inflation and the outlook for interest rate hikes after the widening Middle East conflict pushed oil prices sharply higher.

The benchmark 10-year JGB yield JP10YTN=JBTC rose 3.5 bps to 2.145%.

For a full report, click on JP/

COMMODITIES

GOLD

Gold prices reversed course on Thursday, erasing earlier gains as rising U.S. Treasury yields and a firmer dollar pressured prices and concerns grew that the escalating conflict in the Middle East could drive up inflation.

Spot gold XAU= fell 1.2% at $5,075.54 per ounce as of 11:48 a.m. ET (1648 GMT), after rising as much as $5,194.59 earlier.

For a full report, click on GOL/

- - - -

IRON ORE

Iron ore futures advanced on Thursday as top consumer China announced a slew of economic measures that fueled optimism over steel and iron ore demand.

The most-traded May iron ore contract on China's Dalian Commodity Exchange DCIOcv1 traded 1.27% higher at 759 yuan ($110.09) a metric ton.

For a full report, click on IRONORE/

- - - -

BASE METALS

Aluminium pulled back on Thursday after rising for three straight sessions on supply concerns, as the dollar firmed and the market awaited further news from smelters in the war-hit Middle East.

Benchmark three-month aluminium CMAL3 on the London Metal Exchange was down 1.7% at $3,283.50 a metric ton as of 1700 GMT, having earlier risen as much as 1.7%.

For a full report, click on MET/L

- - - -

OIL

Oil prices jumped more than 3% on Thursday, extending a rally as the escalating U.S.-Israeli war with Iran disrupted supplies and shipping, driving some major producers in the Middle East to reduce output.

Brent LCOc1 crude was up $2.92, or 3.59%, at $84.32 per barrel by 11:43 a.m. EST (1643GMT), a fifth session of gains.

For a full report, click on O/R

- - - -

PALM OIL

Malaysian palm oil futures rebounded on Thursday, closing at their highest level in a month supported by a surge in crude oil prices.

The benchmark palm oil contract FCPOc3 for May delivery on the Bursa Malaysia Derivatives Exchange rose by 26 ringgit, or 0.62%, to close at 4,205 ringgit ($1,067.26) per metric ton, the highest since February 5.

For a full report, click on POI/

- - - -

RUBBER

Japanese rubber futures declined on Thursday, as the market expected supply to start picking up before peak production season in April.

The Osaka Exchange (OSE) rubber contract for August delivery JRUc6, 0#2JRU: fell 1.5 yen, or 0.4%, to 371.9 yen ($2.37) per kg.

For a full report, click on RUB/T

- - - -

(Bengaluru Bureau; +91 80 6749 1130)

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Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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