Asia Morning Call – Global Markets | Reuters

December 9 (Reuters) ——————————————– – ——————————————-

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SHARES

GLOBAL – The dollar weakened and global equity markets mostly fell on Wednesday as investors became less worried about the Omicron option but looked for direction following strong gains in stocks and crude oil prices the previous day.

The World MSCI Index (.MIWD00000PUS) rose 0.15% after the broad STOXX Europe 600 Index (.STOXX) closed 0.44% lower.

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NEW YORK – US stocks struggled for direction on Wednesday after a strong start to the week as investors digested fresh information on the COVID-19 vaccine from Pfizer and BioNTech, while the fast-spreading Omicron variant held back big rates.

At 11:50 am ET, the Dow Jones Industrial Average (.DJI) was down 72.73 points, or 0.20%, to 35,646.70, the S&P 500 (.SPX) was down 0.34 points, or 0. 01% to 4686.41, and the Nasdaq Composite (.IXIC) rose 47.14 points, or 0.30%, to 15,734.06.

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LONDON – European equities ended a volatile session lower on Wednesday after posting their strongest two-day gains in more than a year, with tech and luxury stocks reversing strong gains as investors pitted assurances of vaccines against COVID-19.

Having jumped 3.8% over the past two days, the regional STOXX 600 (.STOXX) index closed 0.6% lower.

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TOKYO – Japanese stocks jumped on Wednesday as investors hoped the Omicron variant of the coronavirus would be less damaging to the global economy than originally thought.

The Nikkei average share price (.N225) jumped 1.4% to 28,860.62, its highest close since November 25, although it met resistance around 28,910, where there are 50-day and 200-day moving averages.

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SHANGHAI – Shares in China closed higher on Wednesday, as lower bank reserve ratios bolstered investor sentiment, while consumer goods and chipmakers were the top gainers.

The blue-chip CSI300 (.CSI300) rose 1.5% to 4,995.93, while the Shanghai Composite Index (.SSEC) added 1.2% to 3,637.57. Both indices showed the second straight session of growth.

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AUSTRALIA – Australian stocks posted their best trading session in more than two months on Wednesday as rising commodity prices pushed miners to rally and easing concerns over the Omicron variant of the coronavirus boosted bank sentiment and helped broaden sentiment.

The S & P / ASX 200 (.AXJO) closed 1.3% higher at 7,405.4, the best since October 4. The index rose 1% on Tuesday.

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SEOUL – South Korean stocks closed higher for the sixth straight day on Wednesday, tracking growth in Wall Street’s tech sector overnight as concerns over the impact of the Omicron COVID-19 option eased despite a record leap in domestic affairs.

The KOSPI Index (.KS11) rose 10.08 points, or 0.34%, to 3,001.80, its highest close since November 22. It rose 1.48% to a six-week high in early trading.

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FOREIGN CURRENCY

NEW YORK – The dollar fell against several major currencies on Wednesday as easing fears of an economic hit from the Omicron COVID-19 option helped support riskier currencies, with the Australian dollar gaining a third straight growth.

The dollar index, which measures the dollar against its six major peers, fell 0.2% to 96.06. The index remains close to a 16-month high reached late last month.

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SHANGHAI – The RMB appreciated Wednesday, with both onshore and offshore units hitting their strongest levels against the dollar in more than three and a half years after the central bank set its daily fix at more than six-month highs.

The spot yuan opened at 6.3629 per dollar on Wednesday and strengthened to 6.3515 per dollar, the highest level since May 15, 2018. By midday, it had given up some gains and was trading at 6.3540, 118 points higher than Tuesday’s late close.

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AUSTRALIA – The Aussie and New Zealand dollars struggled to contain a rare rally on Wednesday as markets believed the Omicron strain would not disrupt the global recovery, boosting risk sentiment and commodities.

The Aussie was at $ 0.7121, climbing 0.9% overnight to retreat from a 13-month low of $ 0.6994 hit last Friday. The currency should overcome resistance around $ 0.7172 in order to reverse the recent downtrend and stabilize for a while.

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SEOUL – Vaughn strengthened as benchmark yields fell on Wednesday.

The won ended at 1,175.9 per dollar on the land-based settlement platform, up 0.31% from the previous close.

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HIDDEN TREASURES

NEW YORK. On Wednesday, the 10-year U.S. Treasury yield rose for a third straight day as drug makers Pfizer (PFE.N) and BioNtech (22UAy.DE) announced positive laboratory test results for their COVID-19 vaccine against the COVID-19 virus. a new version of the Omicron.

The yield on the 10-year Treasury bond rose 3.3 basis points to 1.513%.

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LONDON – Germany’s benchmark 10-year yield rebounded from September lows on Wednesday as investors ignored potential new UK COVID measures after BioNTech and Pfizer said boosting their vaccine was effective against the Omicron variant in laboratory tests.

Germany’s 10-year yield, the benchmark for the eurozone, followed the UK’s and fell initially to its lowest level since September at -0.409%, but surged 5 basis points to -0.32% by 3:40 pm GMT on news of vaccines.

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TOKYO. Japanese government bond prices strengthened Wednesday, turning positive after the results of the purchase of the Bank of Japan (BOJ) bonds highlighted the limited market interest in the sale.

JGB 10-year futures closed 0.03 points higher at 152.07 after falling to 151.96 earlier.

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GOODS

GOLD. Gold prices were largely flat on Wednesday, with a weaker dollar offsetting stronger US Treasury yields as investors equalized ahead of this week’s US consumer price data.

Spot gold was virtually unchanged at $ 1,783.50 an ounce by 10:11 am ET (11/15 GMT), retreating from the session’s peak of $ 1,792.90.

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IRON ORE – Chinese stainless steel futures fell to their lowest level in more than three months on Wednesday on sluggish refining demand and lower commodity prices.

Benchmark iron ore futures were up 1.5% at Yuan 659 a tonne, rising to a third day after rising 4.2% at the start of the session.

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BASE METALS – Copper prices rallied Wednesday for a third day as China, the largest consumer, boosted its economy and after Pfizer said a three-time course of the vaccine could neutralize the new variant of the Omicron coronavirus.

Benchmark copper on the London Metal Exchange (LME) rose 0.5% to $ 9,645 a tonne at 17:00 GMT.

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OIL – Oil prices fell Wednesday amid volatile trading, taking a breather from gains achieved earlier this week as investors gauged the impact of the Omicron coronavirus option on the global economy.

Brent crude oil futures fell 15 cents, or 0.2%, to $ 75.29 a barrel at 10:52 am ET (15:52 GMT). US West Texas Intermediate crude fell 16 cents, or 0.3%, at $ 71.94 a barrel.

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PALM OIL – Malaysian palm oil futures fell after two sessions of gains on Wednesday, after rival soybean oil fell after the United States raised a proposal to cut biofuel blending mandates and amid concerns over the Omicron coronavirus option.

Palm oil for February delivery on the Bursa Derivative Exchange fell RM 82, or 1.7%, to RM4,847 (US $ 1,147.76) a tonne after falling 2.6% earlier in the day.

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RUBBER – Japanese rubber futures declined on Wednesday amid continuing concerns over weak car sales in China, the largest buyer, and the impact of the Evergrande Group’s concerns on China’s economic growth and demand for the material.

The contract for rubber for delivery in May on the Osaka Exchange was down 0.5 yen, or 0.2%, to 236.5 yen (2.1 dollars) per kg.

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