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January 17 (Reuters) – ——————————————– ———————————————

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SHARES

GLOBAL – Global stock markets stumbled again on Friday and U.S. Treasury yields climbed as cautious investors worried about the impact of impending U.S. interest rate hikes on the economy.

By early evening, the MSCI Global Stock Gauge (.MIWD00000PUS) was down 0.36%. The pan-European STOXX 600 index (.STOXX) closed down 1.01% and had its worst week since Nov. 26, weighed in part by falling tech stocks.

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NEW YORK – The Dow Jones closed lower on Friday with a big drag on financial stocks as investors were disappointed by fourth-quarter results from major U.S. banks, which cast a shadow over the start of the season results.

The Dow Jones Industrial Average (.DJI) fell 201.81 points, or 0.56%, to 35,911.81, the S&P 500 (.SPX) gained 3.82 points, or 0.08%, to 4,662.85 and the Nasdaq Composite (.IXIC) added 86.94 points, or 0.59%, to 14,893.75.

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LONDON — European stocks fell on Friday after hawkish remarks by central bank officials stoked concerns about the impact of tougher policy, while France’s EDF slumped as the government is intervened to reduce electricity prices.

The pan-European STOXX 600 (.STOXX) lost 1.0%, while also marking its worst week since late November.

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TOKYO — Japan’s Nikkei index ended lower on Friday, following a late-night weakness on Wall Street, with tech heavyweights leading the losses, while worries over the impact of the coronavirus variant Omicron also swept through. dampened risk appetite.

The Nikkei stock average (.N225) ended down 1.28% at 28,124.28, after falling more than 2% to a nearly four-week low. The broader Topix (.TOPX) lost 1.39% to 1,977.66.

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SHANGHAI — Chinese stocks closed lower on Friday as problems in the real estate sector continued to weigh on investor sentiment, while recent outbreaks of COVID-19 in the country added to concerns about the effect on the economy.

The blue-chip CSI300 index (.CSI300) fell 0.8% to 4,726.73, while the Shanghai Composite Index (.SSEC) lost 1% to 3,521.26 points.

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AUSTRALIA – Australian stocks fell 1% on Friday, with technology and software companies dragging large losses, after their Wall Street peers succumbed to several US Federal Reserve officials making hawkish remarks about rate hikes of interest soon.

The S&P/ASX 200 Index (.AXJO) ended down 1.1% at 7,393.90. The benchmark index rose 0.5% on Thursday. For the week, it was down 0.8%.

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SEOUL — South Korean stocks posted their biggest drop in nearly four weeks on Friday, led by tech stocks that followed an overnight tumble on the Nasdaq, while a rate hike by the central bank of country cooled sentiment.

The benchmark KOSPI (.KS11) closed down 40.17 points, or 1.36%, at 2,921.92, marking its biggest decline since Dec. 20.

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EXCHANGE

NEW YORK – The U.S. dollar ended a three-day streak of declines on Friday as the recent selling spree prompted by the idea that the Federal Reserve’s tightening measures were largely priced in and weak appetite for the risk in financial markets led investors to avoid riskier currencies.

The US dollar index was up 0.3% at 95.157, but still looked set to end the week down around 0.6%, its worst weekly performance since early September.

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SHANGHAI — The Chinese yuan extended its gains on Friday and ended the domestic trading session at a 3.5-year high against the dollar, buoyed by persistent seasonal demand from businesses ahead of the long Lunar New Year and US holidays. resilient business data.

The onshore yuan ended the domestic trading session at 6.3435 per dollar, the strongest close since May 14, 2018, compared to the previous late-night close of 6.3602.

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AUSTRALIA – The Australian and New Zealand dollars were sitting on strong gains for the week on Friday after a pullback from their US counterpart broke some major chart levels and triggered short coverage.

The Aussie was down slightly to $0.7273 but was still up 1.2% for the week after hitting a two-month high of $0.7314 overnight. The break of resistance around $0.7276 has brightened the technical outlook with a first bullish target around $0.7342.

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SEOUL – The Korean won was flat on Friday as benchmark bond yields rose.

The won ended at 1,187.3 to the dollar on the onshore settlement platform, stable from its previous close.

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TREASURY

NEW YORK – Speculators’ net bearish bets on benchmark 10-year U.S. Treasury futures hit their highest level since February 2020, just before the pandemic began, Commodity data shows Futures Trading Commission released on Friday.

US 10-year bond futures showed net shorts of 349,839 contracts in the week ended Jan. 11, compared to 276,923 contracts the previous week.

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LONDON — Eurozone bond yields resumed their rise in choppy trade on Friday as central bank tightening remained the main concern for investors, but sharp falls earlier this week put the benchmark yield at 10 years. from Germany for its biggest weekly decline in six weeks.

As of 16:00 GMT, Germany’s 10-year yield, which moves inversely to its price, was up around 3 basis points (bps) at -0.064%.

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TOKYO – Yields on Japan’s 10-year government bonds hit a near-year high as investors grew cautious about possible rate hikes by the country’s central bank.

The 10-year JGB yield rose 2.5 basis points (bps) to 0.150%, after hitting 0.156% earlier, its highest since March 2021.

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MERCHANDISE

GOLD

Gold prices slid on Friday, weighed down by a slight rise in Treasury yields on the prospect of higher U.S. interest rates and a stronger dollar.

Spot gold was down 0.3% at $1,816.22 an ounce as of 1:56 p.m. ET (6:56 p.m. GMT). US gold futures fell 0.3% to $1,816.50.

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IRON-ORE

Chinese steel commodities fell on Friday, with coking coal and coke futures plunging around 4% and iron ore prices around 3%, as the market is on the lookout for government policy in controlling steel production.

The most traded coking coal futures on the Dalian Commodity Exchange, for delivery in May, fell 4.4% to 2,258 yuan ($355.06) a ton. They were down 2.6% at 2,300 yuan at the close.

Benchmark iron ore futures fell 2.3% to 722 yuan a ton, while spot iron ore 62% rose $0.5 to $132.5 on Thursday, according to SteelHome consulting firm.

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BASE METALS

Nickel prices rose to their highest level since 2011 on Friday as a supply shortfall ate away at inventories and investors anticipated growing demand for electric vehicles.

Benchmark nickel on the London Metal Exchange (LME) rose 0.1% to $22,205 a tonne at 5:18 p.m. GMT after hitting $22,935. It is up about 7% this week.

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OIL

Oil futures stabilized on Friday, boosted by supply constraints and fears of a Russian attack on neighboring Ukraine, pushing prices to their fourth weekly gain despite sources saying China is on poised to release crude reserves around the Lunar New Year.

Brent crude futures settled at $1.59, or 1.9%, up to a 2.5-month high of $86.06 a barrel, gaining 5.4% during the week .

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PALM OIL

Malaysian palm oil futures fell on Friday as traders locked in profits a day after the contract hit a record high on concerns over labor shortages, but recorded gains for a fourth consecutive week.

The benchmark palm oil contract for March delivery on the Bursa Malaysia Derivatives Exchange ended down 34 ringgits, or 0.66%, at 5,127 ringgits ($1,227.44) a tonne, while up 2.68% for the week.

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RUBBER

Japanese rubber futures rose for the third day on Friday as higher physical prices in Southeast Asia boosted sentiment and encouraged further buying, while a firmer Shanghai market also provided support. support.

The Osaka Exchange rubber contract for June delivery ended at 2.1 yen, or 0.9%, up at 246.5 yen ($2.2) per kg, close to Thursday’s peak of 247.4 yen, its highest since December 2.

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