Asia Morning Call-Global Markets
Dec 19 (Reuters) -
Stock Markets | Net Chng | Stock Markets | Net Chng | ||
S&P/ASX 200** | 8309.4 | -4.6 | NZX 50** | 12865.55 | −48.75 |
DJIA** | 42931.49 | -518.41 | NIKKEI** | 39081.71 | -282.97 |
Nasdaq** | 19734.766 | -374.294 | FTSE** | 8199.11 | 3.91 |
S&P 500** | 5963.49 | -87.12 | Hang Seng** | 19864.55 | 164.07 |
SPI 200 Fut | 8224 | -90 | STI** | 3779.62 | -20.31 |
SSEC** | 3382.2081 | 20.7231 | KOSPI** | 2484.43 | 27.62 |
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Bonds | Net Chng | Bonds | Net Chng | ||
JP 10 YR Bond | 1.065 | -0.01 | KR 10 YR Bond | 10201.33 | 4.271 |
AU 10 YR Bond | 93.093 | -0.552 | US 10 YR Bond | 98.09375 | -0.8125 |
NZ 10 YR Bond | 99.258 | -0.286 | US 30 YR Bond | 97.609375 | -1.109375 |
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Currencies | Net Chng | Net Chng | |||
SGD US$ | 1.3627 | 0.0130 | KRW US$ | 1454.32 | 16.94 |
AUD US$ | 0.6227 | -0.0109 | NZD US$ | 0.5656 | -0.0093 |
EUR US$ | 1.0351 | -0.0138 | Yen US$ | 154.55 | 1.07 |
THB US$ | 34.47 | 0.31 | PHP US$ | 58.983 | -0.020 |
IDR US$ | 16085 | 25 | INR US$ | 84.8670 | -0.0350 |
MYR US$ | 4.4670 | 0.0020 | TWD US$ | 32.579 | 0.070 |
CNY US$ | 7.2864 | 0.0018 | HKD US$ | 7.7710 | 0.0018 |
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Commodities | Net Chng | Net Chng | |||
Spot Gold | 2605.69 | -38.85 | Silver (Lon) | 29.7176 | -0.821 |
U.S. Gold Fut | 2621.5 | -40.5 | Brent Crude | 73.39 | 0.2 |
Iron Ore | CNY778.5 | -18 | TRJCRB Index | - | - |
TOCOM Rubber | JPY369 | -2 | LME Copper | 9045 | 55.5 |
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** indicates closing price
All prices as of 2010 GMT
EQUITIES
GLOBAL - Wall Street turned lower and the dollar gained strength on Wednesday after the U.S. Federal Reserve delivered the expected rate cut, but sent a clear signal that it will ease the pace of further cuts in the coming year.
MSCI's gauge of stocks across the globe .MIWD00000PUS fell 8.93 points, or 1.03%, to 855.09.
For a full report, click on MKTS/GLOB
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NEW YORK - U.S. stocks fell on Wednesday, erasing earlier gains after the Federal Reserve cut interest rates by a quarter of a percentage point and the central bank's economic projections signaled a slower pace of cuts next year.
The Dow Jones Industrial Average .DJI fell 266.21 points, or 0.61%, to 43,183.69, the S&P 500 .SPX lost 47.02 points, or 0.78%, to 6,003.62 and the Nasdaq Composite .IXIC lost 182.44 points, or 0.91%, to 19,926.62.
For a full report, click on .N
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LONDON - European share indices closed up on Wednesday, boosted by technology stocks and French automaker Renault, though gains were capped on caution ahead of the Federal Reserve's policy decision and outlook.
The pan-European STOXX 600 .STOXX closed 0.2% up, snapping a four-day losing streak.
For a full report, click on .EU
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TOKYO - Japan's Nikkei share average fell for a fourth session on Wednesday as investors remained cautious ahead of central bank decisions in the U.S. and Japan, while report of a Honda-Nissan tie-up boosted auto shares.
The Nikkei .N225 ended 0.72% lower at 39,081.71.
For a full report, click on .T
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SHANGHAI - China and Hong Kong stocks rebounded on Wednesday, as investor sentiment was propelled by a Reuters report on China planning a record budget deficit for 2025 and Beijing's call for state-owned companies to boost market value.
The Shanghai Composite index .SSEC closed up 0.62% at 3,382.21, after dropping 0.73% on Tuesday, while the blue-chip CSI 300 index .CSI300 gained 0.51%.
For a full report, click on .SS
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AUSTRALIA - Australian shares were poised to slip at open on Thursday, likely dragged down by commodity stocks, while global investors digested the recent quarter of a percentage point rate cut from the U.S. Federal Reserve.
The local share price index futures YAPcm1 fell 50.4 points, a 0.6% discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark inched down 0.1% on Wednesday.
For a full report, click on .AX
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SEOUL - South Korean shares rose on Wednesday due to dip-buying after two sessions of losses, while investors focussed on the outcome of the U.S. Federal Reserve's last policy meeting of 2024.
The KOSPI .KS11 closed up 27.62 points, or 1.12%, at 2,484.43.
For a full report, click on KRW/
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FOREIGN EXCHANGE
NEW YORK - The U.S. dollar advanced against its peers on Wednesday after the Federal Reserve delivered a widely expected interest rate cut while also indicating it would slow the pace of its monetary policy easing cycle.
The U.S. dollar index =USD, which measures the greenback against six rivals, was up 0.83% at 107.82, rising to a near four-week high.
For a full report, click on USD/
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CHINA - China's yuan slipped to a near 13-month low against the dollar on Wednesday, as state bank support offset much of the downside pressure from widening yield differentials between the world's two largest economies.
As of 0243 GMT, the onshore yuan CNY=CFXS was 0.02% lower at 7.2853 to the dollar.
For a full report, click on CNY/
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AUSTRALIA - The Australian and New Zealand dollars hit fresh lows on Wednesday as more upbeat economic news out of the U.S. focused investors' attention on the U.S. dollar.
The Aussie dipped a further 0.1% to a 13-month low of $0.6325 AUD=D3, having already lost 0.5% overnight.
For a full report, click on AUD/
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SEOUL - The South Korean won strengthened against the US dollar on Wednesday.
The won was quoted at 1,435.5 per U.S. dollar on the onshore settlement platform KRW=KFTC, 0.11% higher than its previous close at 1,437.1.
For a full report, click on KRW/
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TREASURIES
NEW YORK - U.S. Treasury yields climbed to multi-week peaks on Wednesday after the Federal Reserve lowered interest rates by 25 basis points (bps), as widely expected, but flagged a slower pace of easing next year amid a persistently stable labor market and inflation that has become stickier than normal.
U.S. 10-year yield hit a fresh four-week high of 4.458% after the rate decision and was last up 6.9 bps at 4.454% US10YT=RR.
For a full report, click on US/
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LONDON - Euro zone bond yields were little changed on Wednesday as investors waited for the U.S. Federal Reserve's interest rate decision later in the day.
Germany's 10-year bond yield DE10YT=RR, the benchmark for the euro zone, was up 1 basis point at 2.244%.
For a full report, click on GVD/EUR
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TOKYO - Japanese government bond yields fell on Wednesday, reversing rises in the previous session, as investors bet the Bank of Japan will keep the interest rates steady at its latest meeting.
The 10-year JGB yield JP10YTN=JBTC fell 1 basis point to 1.065%.
For a full report, click on JP/
COMMODITIES
GOLD
Gold slipped more than 1% to a one-month low on Wednesday after the U.S. Federal Reserve lowered interest rates as expected, but noted it will slow the pace at which borrowing costs fall any further, boosting the dollar and Treasury yields.
Spot gold XAU= was down 1.5% at $2,606.64 per ounce by 02:56 p.m. ET (1956 GMT), its lowest since Nov. 18. U.S. gold futures GCv1 settled 0.3% down at $2,653.30.
For a full report, click on GOL/
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IRON ORE
Iron ore futures prices slipped on Wednesday, as supply concerns eased and demand slowed marginally due to maintenance of more furnaces by steelmakers in top consumer China.
The most-traded May iron ore contract on China's Dalian Commodity Exchange DCIOcv1 ended daytime trade 2.63% lower at 778.5 yuan ($106.86) a metric ton, the lowest level since Nov. 27.
For a full report, click on IRONORE/
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BASE METALS
Copper prices edged up in London on Wednesday after hitting their lowest in more than two weeks, but remained under pressure from concerns about demand from top consumer China and caution ahead of the U.S. Federal Reserve's interest-rate decision.
Three-month copper on the London Metal Exchange CMCU3 rose 0.5% to $9,029.50 per metric ton by 1702 GMT after hitting $8,950, its lowest since Dec. 2.
For a full report, click on MET/L
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OIL
Oil prices edged higher on Wednesday after U.S. crude inventories fell and as investors eyed a likely interest rate cut by the U.S. Federal Reserve while weighing its projections for 2025.
Brent futures LCOc1 were up 60 cents, or 0.82%, to $73.79 a barrel at 1:10 p.m. ET. U.S. West Texas Intermediate crude CLc1 was up 88 cents, or 1.26%, to $70.96.
For a full report, click on O/R
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PALM OIL
Oil prices settled higher on Wednesday after U.S. crude inventories fell and the U.S. Federal Reserve cut interest rates as expected, but gains were capped as the Fed signalled it would slow the pace of cuts.
Brent futures LCOc1 settled up 20 cents, or 0.27%, to $73.39 a barrel. U.S. West Texas Intermediate crude CLc1 settled up 50 cents, or 0.71%, to $70.58.
For a full report, click on POI/
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RUBBER
Japanese rubber futures closed flat on Wednesday, as softer Chinese economic data clouded prospects of demand from the world's top consumer of the commodity.
The May Osaka Exchange rubber contract JRUc6, 0#2JRU: closed unchanged at 371.0 yen ($2.42) per kg.
For a full report, click on RUB/T
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(Bengaluru Bureau; +91 80 6749 1130)
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