Asia Morning Call-Global Markets
July 23 (Reuters) -
Stock Markets | Net Chng | Stock Markets | Net Chng | ||
S&P/ASX 200** | 7,931.70 | -39.90 | NZX 50** | 12,309.91 | -15.69 |
DJIA | 40,371.83 | +84.30 | NIKKEI** | 39,599.00 | -464.79 |
Nasdaq | 18,010.967 | 284.03 | FTSE** | 8,198.78 | 43.06 |
S&P 500 | 5,562.13 | +57.13 | Hang Seng** | 17,635.88 | 218.20 |
SPI 200 Fut | 7,947.00 | 46.00 | STI** | 3,437.26 | -10.30 |
SSEC** | 2,964.22 | -18.09 | KOSPI** | 2,763.51 | -31.95 |
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Bonds | Bonds | ||||
JP 10 YR Bond | 1.052 | 0.001 | KR 10 YR Bond | 3.168 | 0.011 |
AU 10 YR Bond | 4.335 | 0.027 | US 10 YR Bond | 4.2603 | 0.021 |
NZ 10 YR Bond | 4.43 | -0.003 | US 30 YR Bond | 4.4767 | 0.027 |
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Currencies | |||||
SGD US$ | 1.346 | 0.0006 | KRW US$ | 1,387.44 | -1.35 |
AUD US$ | 0.6643 | -0.0042 | NZD US$ | 0.5977 | -0.0032 |
EUR US$ | 1.0887 | 0.001 | Yen US$ | 157.09 | -0.4 |
THB US$ | 36.25 | -0.06 | PHP US$ | 58.385 | 0.035 |
IDR US$ | 16,215 | 30 | INR US$ | 83.6514 | -0.0726 |
MYR US$ | 4.678 | -0.007 | TWD US$ | 32.848 | 0.118 |
CNY US$ | 7.2736 | 0.0038 | HKD US$ | 7.8073 | -0.0028 |
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Commodities | |||||
Spot Gold | 2,394.39 | -5.5209 | Silver (Lon) | 29.08 | -0.18 |
U.S. Gold Fut | 2,392.60 | -6.5 | Brent Crude | 82.08 | -0.55 |
Iron Ore | CNY798.5 | -6 | TRJCRB Index | - | - |
TOCOM Rubber | JPY321.7 | -1.8 | LME Copper | 9,211 | -94 |
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** indicates closing price
All prices as of 18:21 GMT
EQUITIES
GLOBAL - An index of global shares steadied on Monday asinvestors weighed President Joe Biden's decision to end his re-election bid at the weekend, while a surprise rate cut by China's central bank failed to boost Asian markets.
Markets took the news in their stride, with MSCI's gauge of stocks across the globe .MIWD00000PUS up 0.39% to 814.07.
For a full report, click on MKTS/GLOB
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NEW YORK - The S&P 500 and the Nasdaq recouped some of the previous week's losses on Monday, as investors reexamined the chances of a second presidential term for Republican nominee Donald Trump after U.S. President Joe Biden pulled out of the race.
At 11:44 a.m. ET, the Dow Jones Industrial Average .DJI was down 0.95 points, or -0.00%, at 40,286.58, the S&P 500 .SPX was up 28.28 points, or 0.51%, at 5,533.28, and the Nasdaq Composite .IXIC was up 130.89 points, or 0.74%, at 17,857.83.
For a full report, click on .N
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LONDON - European shares closed up on Monday, recouping some of the steep losses clocked last week with technology and financials leading gains, while Ryanair led a rout amongst airlines after reporting a quarterly profit slump.
The pan-European STOXX 600 index .STOXX closed 0.9% higher, coming off a five-day losing run, a streak last seen in October 2023.
For a full report, click on .EU
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TOKYO - Japan's Nikkei share average ended at a three-week low on Monday, extending its decline to a fourth session, as chip-related stocks tumbled after their Wall Street peers closed sharply lower in the previous session.
The Nikkei .N225 fell 1.16% to 39,599, its lowest close since June 28 in its longest losing streak since October last year.
For a full report, click on .T
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SHANGHAI - China's stocks declined on Monday, led by banking and energy shares as President Xi Jinping's policy blueprint underwhelmed investors, despite a surprise policy rate cut that sent bond yields lower and weakened the yuan.
the Shanghai Composite Index dropped more than 0.7% by the lunch break.
For a full report, click on .SS
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AUSTRALIA - Australian shares started the week on a dismal note as rate-hike worries and uncertainty surrounding the U.S. elections kept investors away, with the sell-off further compounded by miner South32's 13% plunge on doubts over its alumina refinery.
The S&P/ASX 200 index .AXJO ended 0.5% lower at 7,931.7 points on Monday.
For a full report, click on .AX
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SEOUL - South Korean shares fell on Monday after U.S. President Joe Biden ended his re-election campaign as the decision led to a drop in chipmakers and EV battery-related stocks. The won strengthened, while the benchmark bond yield rose.
The benchmark KOSPI .KS11 closed down 31.95 points, or 1.14%, at 2,763.51.
For a full report, click on KRW/
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FOREIGN EXCHANGE
NEW YORK - The U.S. dollar was slightly higher on Monday, capturing some safe-haven flows, as investors digested U.S. President Joe Biden's decision to end his re-election campaign, which is expected to intensify volatility in the currency market.
The dollar index =USD - a measure of its value relative to a basket of foreign currencies - rose 0.1% to 104.3.
For a full report, click on USD/
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SHANGHAI - China's stocks declined on Monday, led by banking and energy shares as President Xi Jinping's policy blueprint underwhelmed investors, despite a surprise policy rate cut that sent bond yields lower and weakened the yuan.
The yuan edged lower against the dollar CNY=CFXS while China's benchmark 10-year treasury yields dropped roughly 1.5 basis points.
For a full report, click on CNY/
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AUSTRALIA - The Australian and New Zealand dollars extended losses on Monday as Asian stocks slid amid uncertainties in the U.S. presidential race and as China's surprise decision to cut interest rates weighed on the yuan.
The Aussie AUD=D3 hit a three-week low of $0.6662 before paring some losses to be down 0.1% at $0.6673.
For a full report, click on AUD/
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SEOUL - The South Korean won strengthened against the dollar.
In offshore trading, the won KRW= was quoted at 1,388.0 per dollar, up 0.1% on the day.
For a full report, click on KRW/
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TREASURIES
NEW YORK - U.S. Treasury yields were little changed on Monday, as markets assessed the uncertainty surrounding the race for the White House after President Joe Biden dropped his bid for re-election.
The yield on the benchmark U.S. 10-year Treasury note US10YT=RR fell 2.2 basis points to 4.217%.
For a full report, click on US/
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LONDON - Germany's 10-year bund yield was steady on Monday as investors assessed what U.S. President Joe Biden's decision to drop out of the 2024 election race might mean for financial markets and the global monetary policy outlook.
Germany's 10-year bond DE10YT=RR, the benchmark for the euro area, took the news in its stride with the yield last up less than 1 basis point (bp) at 2.47%.
For a full report, click on GVD/EUR
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TOKYO - Japanese government bond (JGB) yields struggled for direction on Monday, as the market sized up Joe Biden's withdrawal from the U.S. presidential race and weighed the chance of a rate hike at the Bank of Japan's (BOJ) July monetary policy meeting.
The 10-year JGB yield JP10YTN=JBTC was last up 0.5 basis point (bp) at 1.045%.
For a full report, click on JP/
COMMODITIES
GOLD
Gold prices fell to a more than one-week low on Monday as the dollar firmed, while traders awaited more U.S. economic data and comments from Federal Reserve officials this week for clarity on the timeline for interest rate cuts.
Spot gold XAU= fell 0.4% to $2,391.21 per ounce, as of 1635 GMT.
For a full report, click on GOL/
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IRON ORE
Prices of iron ore futures edged lower on Monday as investors and traders assessed mixed market signals from top consumer China following the end of its widely watched third plenum.
The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 0.31% lower at 798.5 yuan ($109.79) a metric ton.
For a full report, click on IRONORE/
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BASE METALS
Aluminium prices fell to their lowest levels in almost four months on Monday as some bullish positions were scrapped and other base metal prices declined amid concerns about demand given a lack of fresh stimulus in top consumer China.
Three-month aluminium on the London Metal Exchange CMAL3 was down 1.6% to $2,313 per metric ton by 1626 GMT after hitting $2,296, its lowest price since March 28.
For a full report, click on MET/L
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OIL
Oil prices fell for a second consecutive session on Monday to their lowest level in over a month, as investors looked past U.S. President Joe Biden's decision to end his reelection bid and focused on rising stockpiles and signs of weak demand.
Brent crude futures LCOc1 fell 54 cents, or 0.7%, to $82.09 per barrel by 2:04 p.m. ET (1804 GMT), the lowest since June 11.
For a full report, click on O/R
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PALM OIL
Malaysian palm oil futures ended higher on Monday, extending gains to a fifth consecutive session on the back of good demand and data showing a surge in July exports.
The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives Exchange climbed 27 ringgit, or 0.68%, to 3,988 ringgit ($852.50) a metric ton, its highest closing since July 5.
For a full report, click on POI/
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RUBBER
Japanese rubber futures closed higher on Monday, as top consumer China cut key rates to boost its fragile economy, while stronger synthetic rubber prices and supply concerns also lent support to the market.
The Osaka Exchange (OSE) rubber contract for December delivery JRUc6, 0#2JRU: closed up 4.5 yen, or 1.41%, at 323.5 yen ($2.07) per kg.
For a full report, click on RUB/T
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(Bengaluru Bureau; +91 80 6749 1130)
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