Selloff or Market Correction? Either Way, Here's What to Do NextSee Overvalued Stocks

UPDATE 1-Asia Morning Call-Global Markets

Published 07/02/2018, 08:40 am
Updated 07/02/2018, 08:50 am
© Reuters.  UPDATE 1-Asia Morning Call-Global Markets
AUD/USD
-
XAU/USD
-
US500
-
DJI
-
AXJO
-
JP225
-
USD/CNY
-
DX
-
GC
-
HG
-
LCO
-
CL
-
IXIC
-
DE10YT=RR
-
KS11
-
SSEC
-
STOXX
-
CSI300
-
DXY
-
V2TX
-
TIOc1
-

Feb 7 (Reuters) - Stock Markets

Net Chng

Stock Markets

Net Chng S&P/ASX 200** 5,833.3

192.9

NZX 50**

8,075.81

-166.02 DJIA**

24,912.77

567.02

NIKKEI**

21,610.24

1,071.84 Nasdaq**

7,115882

148.356

FTSE**

7,141.4

-193.58 S&P 500**

2,695.14

46.20

Hang Seng**

30,595.42

-1,649.80 SPI 200 Fut

5,863

99.00

STI**

3,406.38

-76.55 SSEC**

3,369.712

-117.79

KOSPI**

2,453.31

-38.44 -------------------------------------------------------------------------------------- -- Bonds

Net Chng

Bonds

Net Chng JP 10 YR Bond 0.077

0.001

KR 10 YR Bond

2.748

-0.056 AU 10 YR Bond 2.871

0.07

US 10 YR Bond

2.8035

0.01 NZ 10 YR Bond 2.975

-0.03

US 30 YR Bond

3.0667

0 -------------------------------------------------------------------------------------- --

Currencies

Net Chng

Net Chng SGD US$

1.3192

-0.0025

KRW US$

1,078.47

-15.66 AUD US$

0.7894

0.0016

NZD US$

0.7306

0.0043 EUR US$

1.2377

0.001

Yen US$

109.58

0.49 THB US$

31.5

-0.12

PHP US$

51.445

-0.198 IDR US$

13,550

30

INR US$

64.22

0.09 MYR US$

3.9135

0.0155

TWD US$

29.386

0.079 CNY US$

6.281

-0.002

HKD US$

7.8183

-0.0022 -------------------------------------------------------------------------------------- --

Commodities

Net Chng

Net Chng Spot Gold

1,323.36

-15.85

Silver (Lon)

16.6

-0.139 U.S. Gold Fut 1,326.1

-10.4

Brent Crude

67.17

-0.45 Iron Ore

CNY522

0.5

TRJCRB Index

-

- TOCOM Rubber

JPY192.8

-0.9

LME Copper

7,075.85

-93.15 --------------------------------------------------------------------------------------- --

** indicates closing price

All prices as of 21:33 GMT

EQUITIES

GLOBAL -

U.S. stocks reversed course again to trade more than 1 percent higher by late afternoon Tuesday, a day after the Dow and S&P 500 indexes saw their biggest one-day declines in more than six years, while a world stock index remained lower.

An index of Latin American shares was also up about 1 percent. European shares closed down more than 2 percent, and losses for the MSCI 47-country world index broke $4 trillion.

For a full report, click on MKTS/GLOB

- - - -

NEW YORK -

U.S. stocks posted sharp gains in another wild trading session on Tuesday, as indexes rebounded from the biggest one-day drops for the S&P 500 and the Dow in more than six years that stalled the market's record run.

The Dow Jones Industrial Average .DJI rose 567.02 points, or 2.33 percent, to 24,912.77, the S&P 500 .SPX gained 46.2 points, or 1.74 percent, to 2,695.14 and the Nasdaq Composite .IXIC added 148.36 points, or 2.13 percent, to 7,115.88.

For a full report, click on .N

- - - -

LONDON -

European shares hit their lowest level since August 2017 on Tuesday as a global sell-off in equities deepened and volatility spiked on growing worries over inflation and rising bond yields.

All sectoral indexes were trading in negative territory, pushing the pan-European STOXX 600 .STOXX index to fall for the seventh straight session, down as much as 3.2 percent, while the euro STOXX volatility .V2TX posted its biggest ever daily percentage gain, up 60 percent.

For a full report, click on .EU

- - - -

TOKYO -

Japanese stocks suffered their biggest point drop since June 2016 on Tuesday, after Wall Street tumbled the previous day on fears about rising U.S. bond yields and a potential pick-up in inflation.

The Nikkei 225 share average .N225 ended down 4.73 percent at 21,610.24, marking the biggest percentage fall in 15 months and falling to its lowest close since Oct. 20.

For a full report, click on .T

- - - -

SHANGHAI -

China stocks tumbled on Tuesday as a global market rout intensified, with the Shanghai index posting its biggest loss in nearly two years on worries that inflationary pressures will prompt central banks to raise rates faster than expected.

The Shanghai Composite Index .SSEC slumped 3.4 percent to 3,370.65 points, its biggest single-day drop since February 2016, while the blue-chip CSI300 index .CSI300 ended down 2.9 percent at 4,148.89.

For a full report, click on .SS

- - - -

AUSTRALIA -

Australian shares are expected to recover on Wednesday after a global rout in equities saw them clock their biggest drop in over 2-1/2 years.

The local share price index futures YAPcm1 rose 98 points to 5,862, a 32.7-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark plunged 3.2 percent on Tuesday.

For a full report, click on .AX

- - - -

SEOUL -

South Korean shares fell for the third straight session on Tuesday to end at a six-week low as a sharp sell-off in U.S. stock markets soured investor confidence worldwide.

The Korea Composite Stock Price Index (KOSPI) .KS11 closed down 1.5 percent at 2,453.31 points, its lowest close since Dec. 27. The index fell 1.3 percent on Monday.

For a full report, click on KRW/

- - - -

FOREIGN EXCHANGE

NEW YORK -

The U.S. dollar index reversed course on Tuesday, erasing most of the gains it made earlier in the session as Wall Street came off its lows in choppy trading a day after the Dow and S&P 500 stock indexes posted their biggest declines since August 2011.

The dollar index, which tracks the greenback against a slate of currencies, rose earlier to its highest level in more than a week after two straight sessions of gains as traders piled back into the dollar following a global stock market rout.

The index .DXY last rose 0.04 percent at 3:01 p.m. EST (2001 GMT).

For a full report, click on USD/

- - - -

SHANGHAI -

China's yuan held steady against the U.S. dollar on Tuesday, supported by corporate dollar sales as emerging currencies lost traction amid a global equities sell-off.

In the spot market, the onshore yuan CNY=CFXS opened at 6.3027 per dollar and was changing hands at 6.2930 at midday, 10 pips firmer than the previous late session close and 0.23 percent stronger than the midpoint.

For a full report, click on CNY/

- - - -

AUSTRALIA -

The Australian dollar was on the defensive on Tuesday as a rout in global share markets sparked a flight to safe havens, while local economic data proved too mixed to offer much support.

The Aussie AUD=D4 was last down 0.36 percent at $0.7867 after slipping 0.5 percent overnight. That came on top of a 1.5 percent dive on Friday when world stock markets took fright.

For a full report, click on AUD/

- - - -

SEOUL -

South Korean shares fell for the third straight session on Tuesday to end at a six-week low as a sharp sell-off in U.S. stock markets soured investor confidence worldwide.

The South Korean won KRW= weakened for a fourth straight session and closed at its lowest in eight weeks.

The won KRW=KFTC was quoted at 1,091.5 to the dollar at the conclusion of onshore trade, down 0.3 percent compared to Monday's close of 1,088.5.

For a full report, click on KRW/

- - - -

TREASURIES

NEW YORK -

U.S. Treasury debt prices gained on the day on Tuesday as volatile equity markets led some investors to seek out lower risk bonds, though many investors remained nervous after a week long bond rout sent yields on Monday to four-year highs.

For a full report, click on US/

- - - -

LONDON -

Euro zone government bond yields tumbled on Tuesday, with Germany's 10-year bond yield set for its biggest one-day fall in two months, as a sell-off in world stocks drove investors into safe-haven debt.

Germany's 10-year bond yield, the benchmark for the bloc, fell as low as 0.671 percent DE10YT=RR , down 7 basis points on the day and was set to close the day at 0.69 percent, still well below Monday's more-than-two-year high of 0.774 percent.

For a full report, click on GVD/EUR

- - - -

TOKYO -

Japanese government bond prices rose on Tuesday as Tokyo stocks plunged and sent investors scurrying for safety in debt.

The five-year JGB yield JP5YTN=JBTC was half a basis point lower at minus 0.090 percent.

The benchmark 10-year yield JP10YTN=JBTC declined half a basis point to 0.075 percent after touching 0.065 percent, its lowest since Jan. 11.

For a full report, click on JP/

COMMODITIES

GOLD

Gold prices fell 1 percent to a 2-1/2-week low on Tuesday, as investors focused on expectations for higher U.S. interest rates, even as U.S. stock markets swung wildly in both directions a day after the Dow and S&P 500 indexes tumbled.

Spot gold XAU= was down 1 percent at $1,326.51 an ounce by 2:41 p.m. EST (1941 GMT), erasing Monday's 0.5 percent gain, having earlier dropped to $1,325.61, its lowest since Jan. 18.

For a full report, click on GOL/

- - - -

IRON ORE

Steelmaking commodity coke surged to a six-week high in China on Tuesday, and steel and iron ore prices rose to their strongest in over a week, as investors defied a global financial selloff and raised their bets amid supply disruptions.

Coking coal DJMcv1 rose 0.9 percent to 1,359 yuan per tonne, adding to Monday's 4.2 percent surge.

For a full report, click on IRONORE/

- - - -

BASE METALS

Prices of industrial metals fell on Tuesday as global stock markets plunged for a fourth day, prompting investors to cut exposure to riskier assets and strengthening the dollar.

Benchmark copper on the London Metal Exchange CMCU3 closed down 1.3 percent at $7,076 a tonne, still close to a four-year high of $7,312.50 hit in December.

For a full report, click on MET/L

- - - -

OIL

Oil fell for a third day on Tuesday as the U.S. dollar rose to its highest in more than a week in the wake of a sharp sell-off on Wall Street and other stock markets, a global rout that wiped out $4 trillion in value.

Brent crude futures LCOc1 for April delivery settled down 76 cents, or 1.12 percent at $66.86 a barrel, after at touching a session low of $66.53, the lowest since Jan. 2.

U.S. West Texas Intermediate futures CLc1 dipped 76 cents, or 1.18 percent, to settle at $63.39 a barrel, the lowest since Jan. 22.

For a full report, click on O/R

- - - -

PALM OIL

Malaysian palm oil futures declined on Tuesday, and have now fallen in three of the past four days, tracking losses in global financial markets and as traders booked profits.

The benchmark palm oil contract for April delivery 1FCPOc3 on the Bursa Malaysia Derivatives Exchange closed down 0.8 percent at 2,470 ringgit ($631) a tonne.

For full report, click on POI/

- - - -

RUBBER

Benchmark Tokyo rubber futures extended decline on Tuesday, coming under pressure from sharp losses in Shanghai futures and weak oil prices, brokers said.

The Tokyo Commodity Exchange rubber contract for July delivery JRUc6 , 0#2JRU: finished 3 yen lower at 193.7 yen ($1.77) per kg.

For a full report, click on RUB/T

- - - - (Bengaluru Bureau; +91 80 6749 1130)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.