Asia Morning Call-Global Markets

Oct 19 (Reuters) -

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** indicates closing price

All prices as of 1812 GMT

EQUITIES

GLOBAL - Global stocks fell modestly on Friday as markets stabilized after a sharp tech-led selloff, while the dollar headed for a weekly loss.

The MSCI World Equity Index lost 0.40% and notched a weekly loss .MIWD00000PUS.

For a full report, click on MKTS/GLOB

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NEW YORK - Wall Street tumbled on Friday, with CoreWeave, Broadcom and other AI-related technology stocks under renewed pressure, while a jump in oil prices spooked traders heading into the weekend.

The S&P 500 was down 1.22% at 7,649.71 points. The Nasdaq declined 2.19% to 26,128.13 points, while the Dow Jones Industrial Average was down 0.55% at 51,891.77 points.

For a full report, click on .N

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LONDON - European shares rose on Friday to wrap up their best week since late June, d uring which strong earnings helped cushion the blow from a global selloff in technology stocks.

The pan-European STOXX 600 index .STOXX rose 0.7% to 644.74 points, touching t he highest in over three weeks.

For a full report, click on .EU

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TOKYO - Japan's Nikkei share average snapped a 6-session losing streak on Friday as AI-related shares rebounded, although gains were limited by caution ahead of corporate earnings reports and US midterm elections.

The Nikkei .N225 rose 1.39% to 65,324.29 after a near 5% drop in the previous session.

For a full report, click on .T

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SHANGHAI - China stocks rebounded on Friday from the previous session’s 14-month lows, after a slew of AI-related companies proposed share buybacks or forecast stellar growth, but the market still registered its worst week in three months.

The blue-chip CSI300 Index .CSI300 ended up 0.1%, while the Shanghai Composite Index .SSEC edged up 0.2%.

For a full report, click on .SS

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AUSTRALIA - Australian shares posted their highest close in 5 weeks on Friday, as easing concerns over a global equity selloff sparked buying in mining and technology stocks, while banks notched their strongest weekly gain in six months.

The S&P/ASX 200 index .AXJO rose 1% to 8,806.70, its highest close since September 10.

For a full report, click on .AX

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SEOUL - South Korean shares rebounded from a six-month low on Friday on dip-buying but still ended the week with their biggest fall in 18 years on worries about the sustainability of the global AI investment boom.

The benchmark KOSPI .KS11 closed up 113.83 points, or 2.05%, at 5,668.05, snapping seven consecutive sessions of losses.

For a full report, click on KRW/

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FOREIGN EXCHANGE

NEW YORK - The dollar was lower on Friday and on track for its first weekly fall in more than a month against the euro and the yen, reflecting fading expectations for a Federal Reserve rate hike and lingering concerns about an AI-driven equity selloff.

The dollar index , which measures it against six major peers, fell 0. 17% to 101. 87 and was set for a 0. 35% weekly drop.

For a full report, click on USD/

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CHINA - China's yuan held steady against the dollar on Friday and was poised to strengthen for a third week as robust exports buoy the Chinese currency despite wobbly growth in the domestic economy and rising yields globally.

On Friday, the onshore yuan changed hands at 6.6907 in late- morning trade, barely changed from Thursday’s close.

For a full report, click on CNY/

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AUSTRALIA - The Australian dollar was on track for steep weekly losses on Friday after soft jobs data prompted markets to scale back wagers on a fifth rate hike this year, sending the currency to a one-month low against the New Zealand dollar.

The Aussie slipped 0.1% to $0.6917 after diving 0.7% overnight to a 15-week low of $0.6895.

For a full report, click on AUD/

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SEOUL - The South Korean won strengthened against the dollar.

The won was quoted at 1,331.4 per dollar on the onshore settlement platform , 0.80% higher than its previous close.

For a full report, click on KRW/

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TREASURIES

NEW YORK - Friday's choppy session put benchmark 10-year Treasury yields on track for their biggest weekly decline in more than a year, while investors assessed the latest economic data and bet that the Federal Reserve's next rate hike will not come until December.

The yield on the benchmark US 10-year Treasury note was unchanged at 5.087% after earlier rising to 5.1334%.

For a full report, click on US/

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LONDON - Euro zone government bond yields steadied on Friday but were still set for a weekly decline, thanks to bonds' recent safe-haven rally sparked by concern about AI-related companies' ability to deliver a return on their vast spending.

Yields on German 10-year Bunds , the safe haven of choice for many investors in European assets, have fallen nearly 7 bps this week to around 3.42% on Friday, though were up 1 bp on the day.

For a full report, click on GVD/EUR

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TOKYO - Japanese government bond (JGB) yields rose on Friday, rebounding from sharp declines in the previous session, as risk-off sentiment driven by CoreWeave debt woes eased.

The benchmark 10-year JGB yield rose 1.5 basis points (bps) to 2.935%, after slipping 3.5 bps to 2.885% earlier in the session.

For a full report, click on JP/

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COMMODITIES

GOLD - Gold prices were largely steady on Friday and were on track for a weekly loss as traders weighed the prospect of further Federal Reserve rate hikes this year following a run of hotter-than-expected US inflation data.

Spot gold was down 0.1% at $4,165.12 per ounce by 02:07 p.m. EDT (1807 GMT) but was down 0.7% so far in the week.

For a full report, click on GOL/

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IRON ORE - Iron ore prices rebounded on Friday after touching more than two-year lows the day before, aided by dip buying amid signs of improving steel margins and downstream consumption in top consumer China.

The most-traded iron ore contract on China's Dalian Commodity Exchange closed daytime trade up 0.07% at 672.5 yuan ($100.57) a metric ton, but posted a weekly loss of 1.5%.

For a full report, click on IRONORE/

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BASE METALS - Copper prices led other base metals higher on Friday as a weaker dollar offered support, while equity markets stabilised after Thursday's sharp selloff in technology stocks, improving risk appetite for growth-dependent metals.

Benchmark three-month copper on the London Metal Exchange rose 0.3% to $14,384 a metric ton by 1600 GMT, recovering from a near two-week low of $14,256 touched on Thursday.

For a full report, click on MET/L

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OIL - Brent touched $110 a barrel for the first time since May on Friday on worries that escalating tensions in the Middle East could further tighten supplies, while investors assessed how much diesel Russia could supply to the global market.

Brent crude futures settled $3.94, or 3.7%, higher at $109.86, the highest since May 19, while US West Texas Intermediate crude futures closed $3.44, or 3.5%, higher at $101.41, the highest since September 17.

For a full report, click on O/R

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PALM OIL - Malaysian palm oil futures climbed on Friday, supported by bargain buying and strong export demand as cargo surveyors reported higher shipments in the first half of October.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange gained 44 ringgit, or 0.93%, to 4,769 ringgit ($1,169.16) a metric ton at the close.

For a full report, click on POI/

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RUBBER - Japanese rubber futures rose on Friday, supported by a rebound in Chinese tyre production and a firmer Shanghai market, although softer Thai physical prices t ook the contract t o a weekly loss.

The Osaka Exchange (OSE) rubber contract for March delivery , was up 3.7 yen, or 0.83%, at 450.3 yen ($2.85) per kg

For a full report, click on RUB/T

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