Asia Morning Call-Global Markets
Sept 19 (Reuters) -
Stock Markets | Net Chng | Stock Markets | Net Chng | ||
S&P/ASX 200** | 8142.1 | 1.2 | NZX 50** | 12586.98 | -84.97 |
DJIA** | 41494.29 | -111.89 | NIKKEI** | 36380.17 | 176.95 |
Nasdaq** | 17604.524 | -23.537 | FTSE** | 8253.68 | -56.18 |
S&P 500** | 5623.56 | -11.02 | Hang Seng** | 17660.02 | 237.9 |
SPI 200 Fut | 8121 | -29 | STI** | 3592.42 | -1 |
SSEC** | 2717.2813 | 13.1917 | KOSPI** | 2575.41 | 3.32 |
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Bonds | Net Chng | Bonds | Net Chng | ||
JP 10 YR Bond | 0.825 | 0 | KR 10 YR Bond | 10566.63 | 31.82 |
AU 10 YR Bond | 98.774 | -0.278 | US 10 YR Bond | 101.421875 | -0.5 |
NZ 10 YR Bond | 100.704 | 0 | US 30 YR Bond | 103.875 | -1.296875 |
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Currencies | Net Chng | Net Chng | |||
SGD US$ | 1.2957 | -0.0012 | KRW US$ | 1,319.09 | 0.49 |
AUD US$ | 0.6757 | 0.0002 | NZD US$ | 0.6192 | 0.0007 |
EUR US$ | 1.1113 | -0.0002 | Yen US$ | 142.36 | -0.04 |
THB US$ | 33.30 | -0.05 | PHP US$ | 55.715 | 0.095 |
IDR US$ | 15,330 | 0 | INR US$ | 83.6500 | -0.0970 |
MYR US$ | 4.2420 | -0.0120 | TWD US$ | 32.015 | 0.083 |
CNY US$ | 7.0812 | -0.0118 | HKD US$ | 7.7924 | -0.0018 |
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Commodities | Net Chng | Net Chng | |||
Spot Gold | 2553.12 | -16.4049 | Silver (Lon) | 29.8 | -0.865 |
U.S. Gold Fut | 2577.9 | -13.5 | Brent Crude | 73.08 | -0.62 |
Iron Ore | TRJCRB Index | - | - | ||
TOCOM Rubber | 374.6 | -0.3 | LME Copper | 9400 | 30 |
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** indicates closing price
All prices as of 1946 GMT
EQUITIES
GLOBAL - Major stock indexes rose and the dollar dropped on Wednesday as traders digested a chunky interest rate cut from the Federal Reserve, which moved to lower borrowing costs in the world's largest economy for the first time in more than four years.
MSCI's index of world stocks .MIWD00000PUS rose to a record high and was last quoted up 0.37% at 831.78.
For a full report, click on MKTS/GLOB
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NEW YORK - U.S. stocks closed with modest losses on Wednesday, well off their intraday highs, after the Federal Reserve cut interest rates by 50 basis points, the high side of estimates for its first cut in more than four years.
According to preliminary data, the S&P 500 .SPX lost 16.37 points, or 0.29%, to end at 5,618.21 points, while the Nasdaq Composite .IXIC lost 52.39 points, or 0.30%, to 17,575.67. The Dow Jones Industrial Average .DJI fell 97.30 points, or 0.23%, to 41,508.88.
For a full report, click on .N
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LONDON - European shares closed lower on Wednesday, as investors refrained from risk-taking ahead of an all-important interest rate decision by the U.S. Federal Reserve that could mark the beginning of a monetary easing cycle in the world's largest economy.
The pan-European STOXX 600 index .STOXX closed 0.5% down, with the food and beverages gauge .
For a full report, click on .EU
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TOKYO - Japan's Nikkei share average rebounded on Wednesday, helped by a softer yen and a recovery in chip-related stocks, although moves were subdued ahead of the Federal Reserve's long-awaited policy decision.
The Nikkei .N225 closed 0.5% higher at 36,380.17, after a two-session slide on a stronger yen, while the broader Topix .TOPX rose 0.4% to 2,565.37.
For a full report, click on .T
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SHANGHAI - China stocks closed up on Wednesday, reopening after the Mid-Autumn Festival holiday, as gains in property and financial shares offset losses in consumer-related stocks.
The blue-chip CSI 300 Index .CSI300 ended higher by 0.4%.
For a full report, click on .SS
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AUSTRALIA - Australian shares were poised to open lower on Thursday with potential losses in local miners and oil firms as investors assessed the Federal Reserve's chunky interest rate cut, while also awaiting the local jobs data due later in the day.
The local share price index futures YAPcm1 fell 0.5%, a 33.1-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark ended flat on Wednesday after hitting a record high during the session.
For a full report, click on .AX
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SEOUL - South Korean financial markets are closed from Monday through Wednesday for thanksgiving Chuseok holidays. Markets will resume trade at normal hours on Thursday, Sept. 19.
For a full report, click on KRW/
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FOREIGN EXCHANGE
NEW YORK - The dollar dropped after the Federal Reserve on Wednesday cut interest rates by half a percentage point, citing greater confidence that inflation will continue to recede to the U.S. central bank's 2% annual target.
The dollar index =USD was last down 0.53% on the day at 100.37, the lowest since July 2023.
For a full report, click on USD/
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SHANGHAI - China's yuan held steady against the U.S. dollar on Wednesday, as traders returned to work after the Mid-Autumn Festival break and ahead of the Federal Reserve's key rate decision.
The spot yuan CNY=CFXS opened at 7.0968 per dollar and was last trading 14 pips lower than the previous late session close at 7.0972 as of 0250 GMT and 0.14% weaker than the midpoint.
For a full report, click on CNY/
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AUSTRALIA - The Australian dollar hit a two-week top on Wednesday due to wagers that the Federal Reserve could kick-start its easing cycle with a big move, although that is far from certain and those gains could easily evaporate.
The Aussie AUD=D3 climbed to as far as $0.6773, the highest since Sept. 3, although it is battling sellers at a key level of $0.6767 after three sessions of gains.
For a full report, click on AUD/
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SEOUL - South Korean financial markets are closed from Monday through Wednesday for thanksgiving Chuseok holidays. Markets will resume trade at normal hours on Thursday, Sept. 19.
For a full report, click on KRW/
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TREASURIES
NEW YORK - The U.S. Treasury yield curve on Wednesday reached its steepest level since July 2022, after the Federal Reserve cut interest rates by 50 basis points (bps), a larger-than-usual rate reduction as the central bank grappled with a weakening labor market.
The benchmark 10-year yield rose 4.7 bps to 3.688% US10YT=RR.
For a full report, click on US/
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LONDON - Euro zone bond yields inched higher on Wednesday but investors were cautious ahead of the long-awaited Federal Reserve interest rate decision due later in the day, which is likely to generate a significant market reaction.
Germany's 10-year bond yield DE10YT=RR was up 4.5 basis points at 2.19%.
For a full report, click on GVD/EUR
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TOKYO - Japanese government bond yields dipped on Wednesday as expectations for a Bank of Japan rate hike faded, while strong results of the BOJ’s bond-buying operation lifted market sentiment.
The 10-year JGB yield JP10YTN=JBTC fell 0.5 basis point (bp) to 0.82%.
For a full report, click on JP/
COMMODITIES
GOLD - Gold prices rose to an all-time high on Wednesday after the U.S. Federal Reserve cut interest rates by 50 basis points, sending the dollar lower.
Spot gold XAU= was up 0.9% at $2,592.39 per ounce as of 02:17 p.m. ET (1817 GMT).
For a full report, click on GOL/
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IRON ORE - Iron ore futures prices posted their biggest daily fall in nearly two years on Wednesday, weighed down by prospects of stronger global supply and weakening Chinese steel demand.
The most-traded January iron ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 ended daytime trade 4.12% lower at 675.0 yuan ($95.13) a metric ton, marking its steepest daily fall since Oct. 31, 2022.
For a full report, click on IRONORE/
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BASE METALS - Copper prices ticked higher on Wednesday ahead of a widely expected rate cut by the U.S. Federal Reserve, which investors bet will support metals demand.
Three-month copper on the London Metal Exchange CMCU3 was up 0.5% at $9,417 per metric ton by 1610 GMT after slipping on Tuesday.
For a full report, click on MET/L
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OIL - Oil prices slipped lower on Wednesday as a rate cut announcement from the Federal Reserve raised worries about the health of the U.S. economy, while investors largely shrugged off a crude oil inventory decline that they attributed to the impact of short-lived weather.
Brent crude futures LCOc1 for November settled at $73.65 a barrel, losing 5 cents, while WTI crude futures CLc1 for October settled at $70.91 a barrel, falling 28 cents.
For a full report, click on O/R
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PALM OIL - Malaysian palm oil futures rose on Wednesday to snap a three-session slide, as traders covered their short positions amid poor weather conditions in the world's second-largest producer, with strength in rival oils also lending support.
The benchmark palm oil contract FCPOc3 for December delivery on the Bursa Malaysia Derivatives Exchange closed 112 ringgit, or 3%, higher at 3,848 ringgit ($907.12) a metric ton, the highest single-session rise since July 24, 2023.
For a full report, click on POI/
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RUBBER - Shanghai rubber futures posted their biggest daily gain in over three months on Wednesday, with markets resuming trade after an extended holiday weekend.
The Osaka Exchange (OSE) rubber contract for February delivery JRUc6, 0#2JRU: closed up 0.4 yen, or 0.11%, at 374.9 yen ($2.65) per kg.
For a full report, click on RUB/T
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(Bengaluru Bureau; +91 80 6749 1130)
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