Asia Morning Call-Global Markets
May 30 (Reuters) -
Stock Markets | Net Chng | Stock Markets | Net Chng | ||
S&P/ASX 200** | 7,665.60 | -101.10 | NZX 50** | 11,678.68 | -3.83 |
DJIA | 38,487.57 | -363.78 | NIKKEI** | 38,556.87 | -298.50 |
Nasdaq | 16,973.904 | -45.98 | FTSE** | 8,183.07 | -71.11 |
S&P 500 | 5,277.46 | -28.58 | Hang Seng** | 18,477.01 | -344.15 |
SPI 200 Fut | 7,652.00 | -40.00 | STI** | 3,323.2 | -6.89 |
SSEC** | 3,111.02 | 1.45 | KOSPI** | 2,677.3 | -45.55 |
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Bonds | Bonds | ||||
JP 10 YR Bond | 1.079 | -0.001 | KR 10 YR Bond | 3.535 | 0.047 |
AU 10 YR Bond | 4.448 | 0.037 | US 10 YR Bond | 4.6157 | 0.074 |
NZ 10 YR Bond | 4.92 | 0 | US 30 YR Bond | 4.7378 | 0.082 |
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Currencies | |||||
SGD US$ | 1.3516 | 0.003 | KRW US$ | 1,368.79 | 6.37 |
AUD US$ | 0.66195 | -0.00295 | NZD US$ | 0.6116 | -0.0024 |
EUR US$ | 1.081 | -0.0045 | Yen US$ | 157.64 | 0.48 |
THB US$ | 36.79 | 0.22 | PHP US$ | 58.46 | 0.51 |
IDR US$ | 16,155 | 70 | INR US$ | 83.34 | 0.18 |
MYR US$ | 4.702 | 0.01 | TWD US$ | 32.298 | 0.13 |
CNY US$ | 7.2486 | 0.0045 | HKD US$ | 7.8129 | 0.0015 |
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Commodities | |||||
Spot Gold | 2,341.59 | -19.3646 | Silver (Lon) | 32.1484 | 0.0384 |
U.S. Gold Fut | 2341.20 | -15.3 | Brent Crude | 83.68 | -0.54 |
Iron Ore | CNY891 | 8.5 | TRJCRB Index | - | - |
TOCOM Rubber | JPY348 | 8.2 | LME Copper | 10,443.5 | -72.5 |
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** indicates closing price
All prices as of 18:32 GMT
EQUITIES
GLOBAL - A global equities gauge fell on Wednesday while benchmark U.S. Treasury yields rose as investors worried about interest rates a day after a weak bond auction and waited for a key U.S. inflation report due on Friday.
MSCI's gauge of stocks across the globe .MIWD00000PUS fell 7.54 points, or 0.95%, to 784.91, putting it on track for its biggest daily decline since April 30.
For a full report, click on MKTS/GLOB
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NEW YORK - Wall Street indexes retreated on Wednesday, led by declines in rate-sensitive sectors as concerns around the timing and the scale of the Federal Reserve's interest rate cuts pushed Treasury yields higher and pressured risky assets.
At 11:51 a.m., the Dow Jones Industrial Average .DJI fell 348.51 points, or 0.90%, to 38,504.35, the S&P 500 .SPX lost 32.77 points, or 0.62%, to 5,273.27 and the Nasdaq Composite .IXIC lost 75.58 points, or 0.44%, to 16,944.30.
For a full report, click on .N
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LONDON - European shares declined on Wednesday as worries that global interest rates will stay elevated for longer pushed bond yields higher, with fresh evidence of persistently high inflation in the region's biggest economy only exacerbating such concerns.
The pan-European STOXX 600 index .STOXX closed 1.1% lower, touching a three-week low, clocking its biggest single-day fall since April 16.
For a full report, click on .EU
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TOKYO - Japan's Nikkei share average shed early gains to end lower on Wednesday as investors sold growth stocks after the nation's benchmark 10-year yield hit its highest in more than 12 years.
The Nikkei .N225 fell 0.77% to close at 38,556.87, after rising as much as 0.7% to track strong performances of U.S. chip-related stocks, driven by AI darling Nvidia NVDA.O.
For a full report, click on .T
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SHANGHAI - China stocks ended slightly higher on Wednesday, after the International Monetary Fund (IMF) upgraded its economic growth forecasts for the Asian giant.
The blue-chip CSI300 index .CSI300 was up 0.12%.
For a full report, click on .SS
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AUSTRALIA - Australian shares ended lower on Wednesday, incurring broad-based losses with banking and mining sectors losing the most, as stronger-than-expected inflation data pushed back rate cut expectations and prompted investor outflow from riskier assets.
The S&P/ASX 200 index .AXJO ended 1.3% lower at 7,665.60 points, its lowest close since May 3. It was also the benchmark's worst day since May 1.
For a full report, click on .AX
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SEOUL - South Korean shares fell more than 1% on Wednesday as Samsung Electronics dropped after a union threatened its first-ever walkout, while a foreign sell-off amid weak investor sentiment over U.S. rate worries also weighed.
The benchmark KOSPI .KS11 closed down 45.55 points or 1.67%, at 2,677.30, posting its biggest drop since April 25.
For a full report, click on KRW/
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FOREIGN EXCHANGE
NEW YORK - The dollar held firm on Wednesday, boosted by higher U.S. yields ahead of key inflation data later in the week, and gaining on the Japanese yen as placid markets encouraged investors to resume carry trades.
The dollar reached as high as 157.41 yen JPY=EBS early on Wednesday, inching back to levels that led to bouts of likely intervention from Tokyo at the end of April and early May, albeit rising at a much slower pace than it did last month.
For a full report, click on USD/
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SHANGHAI - China's yuan dropped to the lowest level in more than six months against a resurgent U.S. dollar on Wednesday, as broad greenback strength in global markets eclipsed state banks' efforts to underpin the local currency.
The yuan CNY=CFXS touched 7.2487 per dollar in morning trade, its lowest level against since Nov. 17, 2023.
For a full report, click on CNY/
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AUSTRALIA - The Australian dollar got a brief lift on Wednesday after a reading on local inflation surprised on the high side, slugging bonds and adding to risks interest rates may yet have to rise further.
The Aussie firmed a fraction to $0.6652 AUD=D3, having got as far as $0.6680 overnight before running out of steam. Support comes in around $0.6640 and $0.6592, with resistance at the May top of $0.6714.
For a full report, click on AUD/
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SEOUL - The won weakened on Wednesday, while the benchmark bond yield rose.
The won ended onshore trade KRW=KFTC at 1,365.0 per dollar, 0.48% lower than its previous close at 1,358.5.
For a full report, click on KRW/
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TREASURIES
NEW YORK - Benchmark 10-year U.S. Treasury yields hit four-week highs on Wednesday while two-year yields declined, as traders pared back on a popular trade that saw the closely watched two-year, 10-year yield curve reach its most inverted levels in 11 weeks.
Yields on 10-year notes US10YT=RR climbed 5 basis points to 4.594%.
For a full report, click on US/
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LONDON - Euro zone benchmark Bund yields surged to their highest level in over six months on Wednesday after data showed German inflation rising slightly more than expectedand a Federal Reserve official said the U.S. central bank could hike rates.
The German 10-year bond yield DE10YT=RR, the benchmark for the euro zone bloc, rose 9.5 basis points (bps) to 2.68%, its highest level since Nov. 13.
For a full report, click on GVD/EUR
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TOKYO - Japanese government bond (JGB) yields rose on Wednesday to fresh multi-year highs as investors remained cautious amid uncertainty about the Bank of Japan's (BOJ) monetary policy outlook.
The 10-year JGB yield JP10YTN=JBTC rose 4 basis points (bps) to 1.075%, its highest since December 2011.
For a full report, click on JP/
COMMODITIES
GOLD - Gold prices fell on Wednesday as a stronger dollar, higher bond yields and hawkish comments from a Federal Reserve official weighed on market sentiment as it braced for the release of U.S. inflation data.
Spot gold XAU= fell about 0.8% to $2,342.80 per ounce by 1348 p.m. ET (1748 GMT).
For a full report, click on GOL/
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IRON ORE - Iron ore futures prices moved sideways on Wednesday, with the Dalian benchmark extending its decline to a third straight session, as weakening fundamentals of the key steelmaking ingredient outweighed more property stimulus in top consumer China.
The most-traded September iron ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 1.11% lower to 891 yuan a metric ton after falling more than 2% on Tuesday.
For a full report, click on IRONORE/
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BASE METALS - Aluminium prices hit their highest in nearly two years on Wednesday on supply tightness and surging buying interest from funds switching from copper.
Three-month aluminium CMAL3 on the London Metal Exchange(LME) was up 2% at $2,783 by 1615 GMT, after peaking at $2,787.5 for its highest since June 9, 2022.
For a full report, click on MET/L
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OIL - Oil prices eased about 1% on Wednesday on worries over weak U.S. gasoline demand and economic data that could cause the U.S. Federal Reserve to keep interest rates higher for longer.
Brent LCOc1 futures were down 65 cents, or 0.8%, to $83.57 a barrel by 12:51 p.m. EDT (1651 GMT).
For a full report, click on O/R
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PALM OIL - Malaysian palm oil futures rose for a second consecutive session on Wednesday, as demand from top buyers India and China and strength in rival Dalian contracts underpinned the market.
The benchmark palm oil contract FCPOc3 for August delivery on the Bursa Malaysia Derivatives Exchange closed 73 ringgit, or 1.84%, higher at 4,033 ringgit ($857.72) per metric ton.
For a full report, click on POI/
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RUBBER - Japanese rubber futures extended their winning streak to a six consecutive session on Wednesday, supported by elevated physical rubber and crude oil prices.
The Osaka Exchange (OSE) rubber contract for November delivery JRUc6, 0#2JRU: closed up 1.2 yen, or 0.35%, at 339.8 yen ($2.16) per kg.
For a full report, click on RUB/T
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(Bengaluru Bureau; +91 80 6749 1130)
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