Asia Morning Call-Global Markets
Aug 6 (Reuters) -
Stock Markets | Net Chng | Stock Markets | Net Chng | ||
S&P/ASX 200** | 7,649.60 | −293.60 | NZX 50** | 12,264.49 | −188.55 |
DJIA | 38,833.03 | −904.23 | NIKKEI** | 31,458.42 | −4,451.28 |
Nasdaq | 16,237.47 | −538.70 | FTSE** | 8,008.23 | −166.48 |
S&P 500 | 5,202.57 | −143.99 | Hang Seng** | 16,698.36 | −247.15 |
SPI 200 Fut | 7,574.0 | -29.0 | STI** | 3,243.670 | -137.780 |
SSEC** | 2,860.70 | −44.64 | KOSPI** | 2,441.55 | −234.64 |
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Bonds | Bonds | ||||
JP 10 YR Bond | 0.768 | -0.192 | KR 10 YR Bond | 2.863 | -0.121 |
AU 10 YR Bond | 3.869 | -0.180 | US 10 YR Bond | 3.7771 | -0.0189 |
NZ 10 YR Bond | 4.185 | -0.077 | US 30 YR Bond | 4.0601 | -0.0509 |
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Currencies | |||||
SGD US$ | 1.3244 | -0.0024 | KRW US$ | 1368.10 | 11.46 |
AUD US$ | 0.6497 | -0.0011 | NZD US$ | 0.5934 | -0.0024 |
EUR US$ | 1.0956 | 0.0048 | Yen US$ | 143.97 | -2.57 |
THB US$ | 35.42 | 0.13 | PHP US$ | 57.820 | -0.110 |
IDR US$ | 16180 | -15 | INR US$ | 84.0180 | 0.2240 |
MYR US$ | 4.4200 | -0.0750 | TWD US$ | 32.695 | 0.127 |
CNY US$ | 7.1150 | -0.0309 | HKD US$ | 7.7871 | -0.0191 |
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Commodities | |||||
Spot Gold | 2,404.53 | -27.66 | Silver (Lon) | - | - |
U.S. Gold Fut | 2,444.4 | -32.4 | Brent Crude | 76.92 | 0.11 |
Iron Ore | 776.5 | -2.5 | TRJCRB Index | - | - |
TOCOM Rubber | JPY312.2 | -3.1 | LME Copper | 8,905 | -177 |
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** indicates closing price
All prices as of 18:22 GMT
EQUITIES
GLOBAL - Global equities suffered heavy losses on Monday as Wall Street joined a global stock rout that started in Japan while the dollar tumbled against the yen and U.S. Treasury yields dropped on concerns about a recession in the United States.
MSCI's gauge of stocks across the globe .MIWD00000PUS fell 26.19 points, or 3.33%, to 761.02 after earlier hitting a low of 756.
For a full report, click on MKTS/GLOB
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NEW YORK - Wall Street's main indexes slumped on Monday as risk appetite among investors dropped on fears of a U.S. recession following weak economic data last week, sending tremors across global markets.
At 11:30 a.m. ET, the Dow Jones Industrial Average .DJI was down 863.70 points, or 2.17%, at 38,873.56, the S&P 500 .SPX was down 129.55 points, or 2.42%, at 5,217.01, and the Nasdaq Composite .IXIC was down 465.25 points, or 2.77%, at 16,310.92.
For a full report, click on .N
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LONDON - The main European stocks index hit its lowest in over six months on Monday as fears of a slowdown in the world's largest economy knocked equities globally, with energy and utility stocks at the forefront of a broad-based market slide.
The STOXX 600 .STOXX closed 2.2% lower, but off the day's low.
For a full report, click on .EU
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TOKYO - Japanese stocks collapsed on Monday in their biggest single day rout since the 1987 Black Monday sell-offs, driven by last week's plunge in global stock markets, economic concerns and worries investments funded by a cheap yen were being unwound.
The Nikkei share average .N225 shed a staggering 12.4% as Friday's dismal jobs data heightened worries of a possible recession, and as the yen rallied to 7-month highs versus the dollar.
For a full report, click on .T
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SHANGHAI - China stocks closed lower on Monday, tracking global markets, as fears of a U.S. recession sent investors fleeing from risk even after data showed growth in China's services activity accelerated in July.
The blue-chip CSI300 index .CSI300 was down 1.21%.
For a full report, click on .SS
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AUSTRALIA - Australian shares slumped more than 3% in their worst trading session in over two years on Monday, joining a global sell-off in riskier assets after weak U.S. labour market data sparked fears the world's largest economy could be heading towards a recession.
The S&P/ASX 200 index .AXJO closed 3.7% lower at 7,649.6 points.
For a full report, click on .AX
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SEOUL - South Korean shares dropped more than 4% on Monday, tracking Wall Street's tumble in the previous session on fears the United States could be heading for recession, while authorities were alert amid heightened market volatility.
The benchmark KOSPI .KS11 was down 109.81 points, or 4.1%, at 2,566.38, as of 0105 GMT, hitting its lowest level since April 19.
For a full report, click on KRW/
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FOREIGN EXCHANGE
NEW YORK - The U.S. dollar sank to a near 7-month low against a basket of peers on Monday, and sold off sharply against the euro and the Japanese yen, as a slew of economic data last week raised the prospect of a U.S. economic downturn and bigger rate cuts from the Federal Reserve.
The dollar index =USD, which tracks the U.S. currency against a basket of six others, was down 0.7% to 102.39, after sinking as low as 102.15, its weakest since January 12.
For a full report, click on USD/
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SHANGHAI - China's yuan leapt to a seven-month high against the dollar on Monday, boosted by a stronger Japanese yen and investors rushing to unwind their emerging market carry trades.
The onshore yuan CNY=CFXS rallied to a high of 7.1150 per dollar in morning trades, the strongest level since Jan. 2.
For a full report, click on CNY/
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AUSTRALIA - The Australian and New Zealand dollars started the week on the back foot after weak U.S. jobs data magnified recession fear, triggering mass risk aversion, while bonds rallied to 14-month highs on prospects of earlier interest rate cuts at home.
On Monday, the Aussie slipped 0.2% to $0.6498 AUD=D3, just a touch above a three-month low of $0.6480 hit last week.
For a full report, click on AUD/
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SEOUL - The South Korean won weakened against the dollar on Monday.
The won was quoted 0.56% lower at 1,363.6 per dollar on the onshore settlement platform KRW=KFTC, after dropping on Friday to its highest level since May 28.
For a full report, click on KRW/
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TREASURIES
NEW YORK - U.S. Treasury yields rebounded from one-year lows on Monday after a Federal Reserve official said weaker than expected jobs data for July does not indicate a recession, while solid U.S. services sector activity eased some fears that the United States is heading into an economic downturn.
Benchmark 10-year note yields US10YT=RR rose 2 basis points to 3.817% and reached 3.667%, the lowest since June 2023.
For a full report, click on US/
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LONDON - German bond yields tumbled to their lowest in months on Monday as investors rushed to the safety of government debt and dumped stocks, before a reassessment partly helped by U.S. data left them trading near flat on the day.
The German 10-year yield DE10YT=RR, the benchmark for the euro zone, dropped to 2.074%, the lowest since January.
For a full report, click on GVD/EUR
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TOKYO - Japanese government bond yields sank on Monday to their lowest since April, following a decline in U.S. yields amid concerns of a recession, while investors questioned if the Bank of Japan would raise interest rates again this year.
The 10-year JGB yield JP10YTN=JBTC slid 20.5 basis points (bps) to 0.75%, its lowest since April 2.
For a full report, click on JP/
COMMODITIES
GOLD
Gold fell more than 1% on Monday, caught in the slipstream of a global, wider market sell-off driven by mounting economic concerns, although analysts said this would be a temporary correction for the safe haven.
After dropping as much as 3.2% earlier in the session, spot gold XAU= pared some losses to trade 1.6% lower at $2,404.53 an ounce by 14:00 p.m. ET (1800 GMT). U.S. gold futures GCcv1 settled 1% lower at $2,444.4.
For a full report, click on GOL/
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IRON ORE
Iron ore futures prices hit a two-week high on Monday, buoyed by an improved Chinese economic outlook following strong services data and continued stimulus expectations from the world's biggest consumer.
The most-traded September iron ore contract on China's Dalian Commodity Exchange DCIOcv1 ended daytime trade 1.97% higher at 776.5 yuan ($108.69) a metric ton.
For a full report, click on IRONORE/
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BASE METALS
Copper prices tumbled to 4-1/2 month lows on Monday as a deteriorating demand outlook in China and the United States, the world's two largest economies, triggered a selloff of the metal used in power and construction.
Benchmark copper CMCU3 on the LME was down 1.7% at $8,905 a metric ton at 1604 GMT from an earlier $8,714 a ton, its lowest since March 13.
For a full report, click on MET/L
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OIL
Oil climbed more than $1 on Monday, returning to positive territory in volatile trade as markets were roiled by stock market sell-offs on fears of a U.S. recession, but declines were limited by possible supply cuts because of spreading conflict in the Middle East.
Brent crude futures LCOc1 were up 11 cents, or 0.14%, at $76.92 a barrel by 11:15 a.m. CDT (1615 GMT), with prices earlier trading around their lowest since January. U.S. West Texas Intermediate crude CLc1 was up 2 cents, or 0.03%, at $73.54.
For a full report, click on O/R
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PALM OIL
Malaysian palm oil futures fell more than 3% on Monday to their lowest closing price in six months, as weaker crude oil prices and a stronger ringgit weighed on the market.
The benchmark palm oil contract FCPOc3 for October delivery on the Bursa Malaysia Derivatives Exchange closed 129 ringgit, or 3.29% lower at 3,788 ringgit ($857.01) a metric ton, the lowest close since Feb. 2.
For a full report, click on POI/
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RUBBER
Japanese rubber futures erased earlier gains on Monday, as concerns over recovery in the U.S. and China, the world's two largest economies, weighed on global markets.
The Osaka Exchange rubber contract for January delivery JRUc6, 0#2JRU: closed down 3.1 yen, or 0.98%, at 312.2 yen ($2.19) per kg.
For a full report, click on RUB/T
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(Bengaluru Bureau; +91 80 6749 1130)
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