Stock Markets Net Chng Stock Markets Net Chng S&P/ASX 200** 7,068.90 60.00 NZX 50** 11,617.27 21.80 DJIA 31,636.30 -519.10 NIKKEI** 27,229.48 7.44 Nasdaq 11,311.438 -116.71 FTSE** 7,344.45 -292.66 S&P 500 3,860.49 -58.80 Hang Seng** 19,539.87 291.91 SPI 200 Fut 6,918.00 -142.00 STI** 3,172.92 43.17 SSEC** 3,263.31 18.00 KOSPI** 2,379.72 30.75 -------------------------------------------------------------------------------------- -- Bonds Bonds
JP 10 YR Bond 0.32 -0.008 KR 10 YR Bond 3.418 0.115 AU 10 YR Bond 3.269 -0.182 US 10 YR Bond 3.4529 -0.183 NZ 10 YR Bond 4.47 0 US 30 YR Bond 3.6664 -0.095 -------------------------------------------------------------------------------------- --
Currencies
SGD US$ 1.3521 0.007 KRW US$ 1,317.48 12.93 AUD US$ 0.6606 -0.00765 NZD US$ 0.6179 -0.0056 EUR US$ 1.0554 -0.0178 Yen US$ 133.07 -1.15 THB US$ 34.59 0.02 PHP US$ 55.02 -0.02 IDR US$ 15,360 -20 INR US$ 82.88 0.635 MYR US$ 4.48 -0.002 TWD US$ 30.592 -0.028 CNY US$ 6.908 0.0285 HKD US$ 7.8493 0.0011 -------------------------------------------------------------------------------------- --
Commodities
Spot Gold 1,924.67 22.5529 Silver (Lon) 21.8042 0.1142 U.S. Gold Fut 1,931.30 20.4 Brent Crude 73.32 -4.13 Iron Ore CNY926.50 6.5 TRJCRB Index - - TOCOM Rubber JPY214.1 0.5 LME Copper 8,493 -330.5 --------------------------------------------------------------------------------------- --
** indicates closing price
All prices as of 18:02 GMT
EQUITIES GLOBAL - Renewed unease gripped world markets on Wednesday as news that Credit Suisse's largest investor said it could not provide the Swiss bank with more financial assistance sent its shares and broader European shares sliding. The MSCI world equity index , which tracks shares in 49 nations, lost 1.76%. For a full report, click on - - - -
NEW YORK - U.S. stocks dropped on Wednesday as turbulence at Credit Suisse revived fears of a banking crisis, eclipsing bets of a smaller interest rate hike in March following weak economic data. At 11:57 a.m. ET, the Dow Jones Industrial Average was down 585.89 points, or 1.82%, at 31,569.51, the S&P 500 was down 60.75 points, or 1.55%, at 3,858.54, and the Nasdaq Composite was down 100.00 points, or 0.88%, at 11,328.15. For a full report, click on - - - -
LONDON - European shares on Wednesday had their worst day in over a year as a selloff in bank stocks resumed on renewed investor concerns about stresses within the sector, with Credit Suisse plunging to a fresh record low. The pan-European STOXX 600 index closed the day 3% lower, a day after recording its best day this year. For a full report, click on - - - -
TOKYO - Japanese banking stocks closed higher on Wednesday, helping the Nikkei share average snap a three-day losing streak, as markets recovered some composure after investors tempered their fears of contagion from the Silicon Valley Bank meltdown. The Nikkei had a volatile session, but recovered in the final 15 minutes of trade to close steady at 27,229.48. Over the previous three days, the benchmark had slumped nearly 5%. For a full report, click on - - - -
SHANGHAI - China stocks were steady on Wednesday as investors assessed domestic economic data that signalled signs of improvement, while on-target U.S. inflation print helped ease contagion fears from the Silicon Valley Bank's collapse. China's blue-chip CSI 300 Index was flat, while the Shanghai Composite Index edged 0.55% higher. For a full report, click on - - - -
AUSTRALIA - Australian shares ended a three-day rout to close higher on Wednesday, led by a recovery in tech and banking stocks, as jitters from the collapse of U.S.-based Silicon Valley Bank (SVB) abated. The S&P/ASX 200 index rose 0.86% to 7,068.90 at the close of trade, rebounding after a more-than-4% drop over the last three sessions. For a full report, click on - - - -
SEOUL - South Korean shares rose more than 1% on Wednesday, recovering part of their losses in the prior session as concerns eased about the U.S. banking sector's troubles and the U.S. interest rate policy outlook. The stock market's benchmark KOSPI ended 30.75 points, or 1.31%, higher at 2,379.72, recovering half the 61.63 points lost on Tuesday. For a full report, click on - - - -
FOREIGN EXCHANGE NEW YORK - The dollar rose on Wednesday on safe-haven buying after Credit Suisse's stock tumbled following the disclosure of "weaknesses" in its financial reporting that renewed investor concerns that a full-blown global banking crisis may be brewing. The dollar index , which measures the U.S. currency against six others, rose 1.07% and the euro fell 1.76% to $1.0543. For a full report, click on - - - -
SHANGHAI - China's yuan eased against the dollar on Wednesday as a slew of data pointed to an uneven economic recovery since Beijing dropped its stringent zero-COVID strategy, denting market sentiment. In the spot market, the onshore spot yuan opened at 6.8820 per dollar and was changing hands at 6.8843 at midday, 48 pips softer than the previous late session close. For a full report, click on - - - -
AUSTRALIA - The Australian and New Zealand dollars were buoyant on Wednesday after China's latest economic data confirmed activity was recovering from pandemic damage, while improved risk sentiment from receding contagion fears of a possible U.S. banking crisis also helped. The Aussie rose 0.3% to $0.6702, having eked out a 0.2% gain overnight to as far as $0.6696. After breaching the 14-day moving average of $0.6685, it now faces major resistance at the 200-day moving average of $0.6769. The kiwi gained 0.4% to $0.6260, after also edging 0.2% higher to $0.6235. Resistance now lies at $0.6275, a high from early March. For a full report, click on - - - -
SEOUL - In offshore trading, the won was quoted at 1,304.5 per dollar, up 0.0% on the day, while in non-deliverable forward trading its one-month contract was quoted at 1,301.1. The won ended onshore trade at 1,303.7 per dollar, 0.57% higher than its previous close at 1,311.1. For a full report, click on - - - -
TREASURIES
NEW YORK - U.S. Treasury yields tumbled on Wednesday after U.S. data showed signs of economic weakness and cooling inflation, while problems at Swiss banking giant Credit Suisse added to concerns about the impact of rising yields on the global banking sector. U.S. two-year yields, which reflect interest rate expectations dropped to 3.72%, the lowest since September and were last down 41 basis points at 3.817%. The yield on 10-year Treasury notes fell 21.1 bps to 3.426%. For a full report, click on - - - -
LONDON - Euro zone bond yields plunged again on Wednesday, with the German two-year yield set for its largest daily fall since 1995 as another bout of turmoil in European banking stocks sent investors scrambling for the safety of government bonds. German 10-year Bund yields , seen as the benchmark for the euro zone, fell 31 bps to 2.141%. That would be the biggest daily drop since the Black Monday stock market crash of 1987. For a full report, click on - - - -
TOKYO - Japanese government bond yields stabilised on Wednesday after a three-day tumble, as investors turn more optimistic that U.S. authorities can prevent a wider crisis in the banking sector following the collapse of Silicon Valley Bank. The benchmark 10-year JGB yield fell 1 basis point to 0.27%, as of 0546 GMT, although stayed above Tuesday's four-month low of 0.24%. Prior to the plunge that began on Friday, the yield had hovered around the 0.5% policy ceiling under the BOJ's yield curve controls (YCC). For a full report, click on COMMODITIES
GOLD - Gold prices climbed over 1% to their highest since early February on Wednesday as a fresh crisis in the banking sector turned investors away from seemingly riskier assets and drove them to the safety of bullion. Spot gold jumped 1.2% to $1,924.63 per ounce by 11:56 a.m. EDT (1556 GMT). U.S. gold futures gained 1.1% to settle at $1,931.30.
For a full report, click on - - - -
IRON ORE - Benchmark iron ore futures held ground on Wednesday as China's activity data in January and February pointed to an economic rebound, albeit gradual, for the world's top steel producer. The most-traded May iron ore on China's Dalian Commodity Exchange ended daytime trade steady at 926.50 yuan ($134.48) a tonne, near the contract's record high of 936 yuan. For a full report, click on - - - -
BASE METALS - Copper prices fell on Wednesday as a stronger dollar dented buying appetite from holders of other currencies while commodities and equities markets were shaken by fresh banking sector concerns. Three-month copper on the London Metal Exchange (LME) was down 3.9% at $8,493 a tonne by 1652 GMT after touching its lowest since Jan. 6 at $8,489.50. For a full report, click on - - - -
OIL - Oil prices plunged more than $5 a barrel on Wednesday to their lowest in more than a year as unease over Credit Suisse spooked world markets and offset hopes of a Chinese oil demand recovery. Brent crude was down $4.65, or 6%, to $72.35 a barrel at 1:35 p.m ET (1735 GMT). For a full report, click on - - - -
PALM OIL - Malaysian palm oil futures snapped a three-day losing run on Wednesday on bargain buying amid strong demand for exports. The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange ended up 33 ringgit, or 0.83%, at 4,015 ringgit ($896.21) a tonne, after hitting a near one-month low in the previous session. For a full report, click on - - - -
RUBBER - Japanese rubber futures fell on Wednesday, reversing morning gains, as a
weak demand outlook for China weighed on sentiment, while cautious traders awaited more
cues on the U.S. Federal Reserve's monetary policy.
Osaka Exchange's rubber contract for August delivery , finished
1.4 yen, or 0.7%, lower at 213.6 yen ($1.59) per kg.
For a full report, click on - - - -
(Bengaluru Bureau; +91 80 6749 1130)
