Asia Morning Call-Global Markets

Amazon.com

Sun 18:33

Nov 2 (Reuters) - 
Stock Markets
closing level)
Net Chng
Stock Markets

Net Chng
S&P/ASX 200**
8908.1
16.3
NZX 50**
13797
86.83
DJIA
51770.31
-572.25
NIKKEI**
63290.11
-1369.36
Nasdaq
25436.999
-747.726
FTSE**
10729.78
7.71
S&P 500
7580.07
-140.32
Hang Seng**
23294.42
335.77
SPI 200 Fut
8914
-4
STI**
5376.74
-19.29
SSEC**
3599.0166
-52.4171
KOSPI**
5730.74
-206.92
 ----------------------------------------------------------------------------------------
Bonds


Bonds


JP 10 YR Bond
2.755
-0.08
KR 10 YR Bond
4.008
-0.092
AU 10 YR Bond
5.128
-0.008
US 10 YR Bond
4.933
-
NZ 10 YR Bond
4.93
-
US 30 YR Bond
5.3114
-
 ----------------------------------------------------------------------------------------    
Currencies





SGD US$ 
1.2776
-0.0021
KRW US$ 
1333.46
-5.82
AUD US$
0.7030
+0
NZD US$
0.5631
+0.0003
EUR US$
1.1158
-0.002
Yen US$
157.53
-0.16
THB US$ 
33.75
+0
PHP US$
63.643
-0.01
IDR US$
18120
-5
INR US$ 
94.8551
-0.3349
MYR US$
4.0540
-0.003
TWD US$ 
32.584
-0.021
CNY US$
6.6538
-0.0072
HKD US$
7.8442
-0.0004
 ----------------------------------------------------------------------------------------     
Commodities





Spot Gold
3875.0239
-145.3994
Silver (Lon)
49.1027
-3.2823
U.S. Gold Fut
3898.9
-132.5
Brent Crude
117.64
2.76
Iron Ore
672 yuan
-10
TRJCRB Index
-
-
TOCOM Rubber
441
-1.4
LME Copper
14130
-226.5
-----------------------------------------------------------------------------------------  
** indicates closing price
   All prices as of 1744 GMT
EQUITIES
GLOBAL - A sharp selloff in Wall Street's tech shares pushed MSCI's global index down 1.5% on Friday, sending investors to the safety of US bonds on fears that hefty cash-burning AI investments may not deliver sufficient returns.
MSCI's gauge of stocks across the globe .MIWD00000PUS fell 17.15 points, or 1.51%, to 1,115.47.
For a full report, click on MKTS/GLOB
- - - -
NEW YORK - US stocks tumbled on Friday, with the Nasdaq suffering its largest one-day percentage drop since June 5 following disappointing quarterly results from Intel and Amazon, which amplified growing worries surrounding AI-related companies' massive spending on the nascent technology.
The Dow Jones Industrial Average .DJI fell 572.25 points, or 1.09%, to 51,770.31, the S&P 500 .SPX lost 140.32 points, or 1.82%, to 7,580.07 and the Nasdaq Composite .IXIC lost 747.73 points, or 2.86%, to 25,437.00.
For a full report, click on .N
- - - -
LONDON - European shares d ropped on Friday, hammered by a global tech selloff that shaved billions off the market values of some chip heavyweights, ending a largely strong month on a sour note.
The pan-European STOXX 600 index .STOXX closed 0.36% lower at 646.75 points, despite recording its best month since June.
For a full report, click on .EU
- - - -
TOKYO - Japan's Nikkei share average dropped as much as 3% on Friday, led by chip-related stocks, as concerns mounted over the sustainability of spending to fund the AI boom.
The Nikkei .N225 s ank 2.1% to 63,290.11 as of the close of trading, after earlier slumping 3%, led lower by chip equipment heavyweights Advantest 6857.T and Tokyo Electron 8035.T, which dropped 5.9% and 5.2%, respectively.
For a full report, click on .T
- - - -
SHANGHAI - China's blue-chip shares closed lower on Friday and booked their steepest monthly loss since early 2016, as a global selloff in AI stocks weighed on sentiment.
China's blue-chip CSI300 Index .CSI300 fell 1.4% to close near a one-year low, while the Shanghai Composite Index .SSEC shed 1.4%.
For a full report, click on .SS
- - - -
AUSTRALIA - Australian shares logged their best week in nearly three months after edging higher on Friday, as banking stocks rose ahead of the central bank decision next week.
The benchmark S&P/ASX 200 index .AXJO logged a 1.3% weekly jump, its best since August 3, and rose 1.4% for the month.
For a full report, click on .AX
- - - -
SEOUL - South Korean shares fell sharply on Friday and posted a monthly loss of 16%, dragged down by losses in chipmakers on doubts over the global AI investment boom.
The benchmark KOSPI .KS11 closed down 206.92 points, or 3.48%, at 5,730.74, after falling as much as 5.7% earlier and triggering a sidecar trading curb.
For a full report, click on KRW/
- - - -
FOREIGN EXCHANGE
NEW YORK - The yen was on track for a third consecutive daily gain on Friday after the Bank of Japan left rates unchanged and upgraded its inflation outlook, while declining US Treasury yields weighed on the dollar.
The dollar index =USD, which tracks the US currency against six others, was flat at 101.88.
For a full report, click on USD/
- - - -
CHINA - China's yuan firmed against the US dollar to its strongest level in more than four years on Friday and was headed for a fourth straight month of gains, as traders said exporters continued to convert dollar holdings into the local currency.
The spot yuan CNY=CFXS opened at 6.6600 per dollar and was last changing hands at 6.659 as of 0240 GMT, its strongest since June 6, 2022 and 22 pips firmer than the previous late-session close.
For a full report, click on CNY/
- - - -
AUSTRALIA - The Australian dollar stumbled on Friday as hefty cash burn by tech giants sparked a rout in equities and dented risk assets, while the New Zealand dollar steadied after being battered by a surprise decision of the central bank to keep rates unchanged.
The Aussie AUD=D3 held at $0.7025, after falling 0.4% overnight and fading away from a five-week top of $0.7068.
For a full report, click on AUD/
- - - -
SEOUL - The won was quoted at 1,334.3 per dollar on the onshore settlement platform KRW=KFTC, 0.39% higher than its previous close at 1,339.5.
For a full report, click on KRW/
- - - -
TREASURIES
NEW YORK - US Treasuries rose on Friday, and the benchmark 10-year yield closed the month with its biggest monthly drop in nearly three years, as a sharp selloff in technology-related stocks pushed investors into the safe-haven asset.
The yield on the 10-year US Treasury US10YT=RRwas last down 36 basis points for October, most for a month since December 2023. It also had a fourth straight week of declines, its longest such stretch in a year
For a full report, click on US/
- - - -
LONDON - French government borrowing costs climbed steeply again on Friday after data showed the country's economy unexpectedly shrank in the third quarter while inflation rose more than anticipated.
Italian 10-year yields IT10YT=RR were flat while German yields DE10YT=RR rose 2 bps to 4.50%.
For a full report, click on GVD/EUR
- - - -
TOKYO - The yen gave up some of Friday's advances while Japanese government bonds (JGBs) held on to hefty gains after the Bank of Japan left the policy interest rate unchanged, as widely expected.
The 10-year JGB yield JP10YTN=JBTC was down 7 basis points at 2.22%.
For a full report, click on JP/
- - - -
COMMODITIES
GOLD - Gold prices hit a one-year low on Friday while silver, platinum and palladium slid deep into technically oversold territory, as tech shares slumped amid worries that AI spending may not deliver sufficient returns.
Spot gold XAU= fell 3.5% to $3,880.97 an ounce by 2:13 p.m. ET (1813 GMT) — its lowest level since October 2025 — while silver XAG= dropped 6.5% to $49, breaking below $50 for the first time in 11 months, and palladium XPD= slid below $1,000.
For a full report, click on GOL/
- - - -
IRON ORE - Iron ore futures fell on Friday, paring some of the previous day's gains, as port inventories rebounded and steel mill profitability stayed low.
The most-traded January iron ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 traded 1.18% lower at 672 yuan ($100.89) a metric ton.
For a full report, click on IRONORE/
- - - -
BASE METALS - Copper prices fell on Friday and were on track to snap a three-month winning streak in October as concerns that heavy spending on AI may not generate sufficient returns weighed on risk appetite.
Benchmark three-month copper on the London Metal Exchange (LME) was down 1.5% at $14,140 a metric ton by 1720 GMT, after touching a one-week low of $14,133 earlier in the session.
For a full report, click on MET/L
- - - -
OIL - Oil prices jumped more than 2% on Friday and settled at their highest levels since the end of April, as traders braced for a potential escalation in the Iran war after the US midterm elections, with an attack on a tanker in the Strait of Hormuz highlighting supply risks.
Brent crude futures for December LCOc1, which expired on Friday, settled up $2.76, or 2.4%, at $117.64 a barrel, after touching a high of $118.
For a full report, click on O/R
- - - -
PALM OIL - Malaysian palm oil futures closed more than 1% higher on Friday, booking a fourth monthly rise in five, as bargain buying and firmer Dalian palm olein and Chicago soyoil supported prices.
The benchmark palm oil contract FCPOc3 for January delivery on the Bursa Malaysia Derivatives Exchange gained 66 ringgit, or 1.43%, to 4,682 ringgit ($1,155.19) a metric ton at the close.
For a full report, click on POI/
- - - -
RUBBER - Japanese rubber futures hit a one-month low on Friday and posted a third straight weekly loss, as improving weather conditions in top producer Thailand raised expectations of higher supplies and demand from downstream industries stayed subdued.
The Osaka Exchange (OSE) rubber contract for April delivery JRUc6, 0#2JRU: was down 2.60 yen, or 0.58%, at 442.40 yen ($2.80) per kg.
For a full report, click on RUB/T
- - - -

 (Bengaluru Bureau; +91 80 6749 1130)