Asia Morning Call-Global Markets

Sept 21 (Reuters) -

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** indicates closing price

All prices as of 1836 GMT

EQUITIES

GLOBAL - An index of global equity markets edged higher on Friday, as losses in Europe were partly offset by late gains on Wall Street, with markets ending a turbulent week marked by a global push by central banks to quell inflation.

MSCI's gauge of stocks across the globe .MIWD00000PUS rose 0.07% and posted a weekly loss.

For a full report, click on MKTS/GLOB

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NEW YORK - Wall Street closed a volatile week on a muted note on Friday as benchmark US Treasury yields topped 5%, while crude prices reversed earlier gains but remained above $100 per barrel, keeping inflation worries front and center.

The Dow Jones Industrial Average .DJI fell 95.40 points, or 0.18%, to 51,682.64, the S&P 500 .SPX gained 12.74 points, or 0.17%, to 7,650.50 and the Nasdaq Composite .IXIC gained 104.25 points, or 0.40%, to 26,522.55.

For a full report, click on .N

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LONDON - Europe's STOXX 600 tumbled on Friday in broad-based losses led by automobile and telecom shares, while also logging a weekly decline in a week marked by retreating oil prices and interest-rate decisions by major central banks.

The pan-European index .STOXX fell 1.1% to 635.45 points, giving up almost all the gains made in the last two sessions.

For a full report, click on .EU

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TOKYO - Japanese stocks rallied, helped by the weaker yen, which boosts the value of overseas earnings when repatriated into yen.

The Nikkei rallied as much as 2% at one point before ending the day with a 1.4% gain to 65,018.95.

For a full report, click on .T

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SHANGHAI - China stocks rebounded on Friday with the blue-chip CSI300 Index .CSI300 logging its best day in a month, while Hong Kong shares also gained as traders expect trade tensions to ease after next week’s meeting between the U.S. and Chinese presidents.

The Shanghai Composite Index .SSEC rose 0.9%.

For a full report, click on .SS

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AUSTRALIA - Australian shares let go of their earlier gains and ended flat on Friday, as bank losses offset strength in miners while investors weighed the prospect of further interest rate hikes and reduced risk exposure ahead of the weekend.

The benchmark S&P/ASX 200 index .AXJO ended flat at 8,731.20 points, having risen as much as 0.5% earlier in the session.

For a full report, click on .AX

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SEOUL - South Korean shares rose more than 2% on Friday, as chipmakers tracked an overnight rally in U.S. peers, but still ended the week lower amid worries about high bond yields.

The benchmark KOSPI .KS11 closed up 178.82 points, or 2.66%, at 6,894.23, marking its biggest daily percentage rise since September 7.

For a full report, click on KRW/

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FOREIGN EXCHANGE

NEW YORK - The dollar jumped against the yen on Friday after two policymakers at the Bank of Japan dissented from a widely expected decision to raise interest rates, raising doubt among traders about the likelihood of further hikes.

The US dollar was 0.5% higher at 156.725 yen , after rising as much as 1.3% to a two-week high of 158.05 yen.

For a full report, click on USD/

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SHANGHAI - China’s offshore yuan on Friday hit the strongest level against the dollar in four years, as traders bet this week’s US rate hike has not derailed the yuan’s appreciation cycle.

Offshore yuan hit 6.6956 per dollar in morning trade, the strongest level since July, 2022.

For a full report, click on CNY/

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AUSTRALIA - The Australian dollar bounced on Friday after the country's central bank again sounded hawkish on inflation and interest rates, while its New Zealand counterpart seemed set for a fourth straight week of losses.

The Aussie edged up 0.2% to $0.7126 , having bounced almost 0.4% overnight, away from support at $0.7075.

For a full report, click on AUD/

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SEOUL - The South Korean won weakened against the dollar on Friday.

The won was quoted at 1,383.3 per dollar on the onshore settlement platform , 0.13% lower than its previous close at 1,381.5.

For a full report, click on KRW/

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TREASURIES

NEW YORK - US Treasury yields were higher on Friday, with two-year yields hitting their highest since July 2024, as investors evaluated the outlook for interest rates following the Federal Reserve's first rate hike in three years this week.

The yield on the benchmark U.S. 10-year Treasury note was last up 5.3 basis points at 5%.

For a full report, click on US/

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LONDON - Investor concerns over France's stretched finances ahead of next year's elections drove the risk premium on French government bonds to its highest level since the euro zone debt crisis on Friday, while the cost of insuring the country's debt also rose sharply.

The spread on French 10-year government bonds over Germany's rose as high as 104 basis points, exceeding a whole percentage point for the first time since 2012, as investors demand higher compensation for the risk of holding the debt.

For a full report, click on GVD/EUR

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TOKYO - Japanese government bonds slid after the Bank of Japan raised interest rates in a well-telegraphed move, as dissent from two board members cast doubt on how aggressively it will tighten policy from now.

Yields on 2-year JGBs , the tenor that is most sensitive to monetary policy expectations, sank 2 basis points (bps) to 1.84% as of 0758 GMT.

For a full report, click on JP/

COMMODITIES

GOLD

Gold prices rose to a one-week high on Friday, and were on track for their first weekly gain in four, as lower oil prices eased concerns about prolonged inflationary pressures.

Spot gold was up 1.2% at $4,390.11 per ounce by 2:14 p.m. EDT (1812 GMT), after hitting its highest level since September 11 earlier in the session.

For a full report, click on GOL/

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IRON ORE

Dalian iron ore prices rose for a third straight session on Friday, supported by higher-than-expected hot metal output, while lingering demand uncertainty, swelling portside inventory and thin steel margins kept prices on track for a second weekly loss.

The most-traded January iron ore contract on China's Dalian Commodity Exchange (DCE) closed daytime trade up 0.7% at 715.5 yuan ($106.83) a metric ton, posting a 0.6% weekly fall.

For a full report, click on IRONORE/

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BASE METALS

Copper prices rose for a fourth straight session on Friday, climbing back towards record highs, as robust demand in top consumer China continued to underpin the market.

Three-month copper on the London Metal Exchange gained 0.2% to $14,520 a metric ton by 1604 GMT, after touching $14,572.5, its highest level since September 10, when it hit a peak of $14,875.

For a full report, click on MET/L

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OIL

Oil prices fell on Friday after China, acting on a request from Saudi Arabia, asked Iran to limit attacks by Houthi rebels on Saudi oil infrastructure that have threatened a second oil export route in the Middle East.

Brent crude futures settled at $104.87 a barrel, down 95 cents, or 0.93%.

For a full report, click on O/R

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PALM OIL

Malaysian palm oil futures closed lower on Friday, tracking weaker rival edible oils on the Dalian and Chicago exchanges, as well as crude oil, but still posted a weekly gain.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange fell 38 ringgit, or 0.77%, to 4,898 ringgit ($1,200.49) a metric ton at the close.

For a full report, click on POI/

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RUBBER

Japanese rubber futures rose for a third straight session on Friday, supported by a weaker yen and a rally in Tokyo equities, though the contract posted a weekly decline as oil prices fell.

The Osaka Exchange (OSE) rubber contract for February delivery , was up 2.3 yen, or 0.54%, at 430.2 yen ($2.74) per kg.

For a full report, click on RUB/T

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