Asia Morning Call-Global Markets

Nov 3 (Reuters) -

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** indicates closing price

All prices as of 1950 GMT

EQUITIES

GLOBAL - Global stocks were headed for gains on Monday after oil prices declined sharply, reversing some of the gloom cast by Friday's rout in US tech shares.

In Europe's afternoon, MSCI's main world stocks index < .MIWD00000PUS > was up 0.5% at 1,120, while Europe's STOXX 600 .STOXX was up 0.3%, with tech stocks .SX8P rising 0.5%.

For a full report, click on MKTS/GLOB

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NEW YORK - The S&P 500 climbed on Monday as oil prices tumbled on optimism about a potential US-Iran peace agreement, while Apple shares declined ahead of the iPhone maker's quarterly report and investors awaited Tuesday's US midterm elections.

The S&P 500 was up 0.25% at 7,598.94 points.

The Nasdaq gained 0.10% to 25,462.99 points, while the Dow Jones Industrial Average was up 0.94% at 52,258.77 points.

For a full report, click on .N

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LONDON - European shares started the week higher on Monday as market expectations that talks to end the US-Israeli war with Iran could make progress drove down oil prices and boosted risk appetite.

The pan-European STOXX 600 index .STOXX ended 0.42% up at 649.44 points and hovered near a two-month high.

For a full report, click on .EU

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TOKYO - Japan's Nikkei share average fell on Monday as memory chip maker Kioxia tanked, while gains in Tokyo Electron and other firms with strong outlooks limited the losses.

The Nikkei .N225 ended 0.33% lower at 63,081.86, a nd the broader Topix .TOPX f ell 0.88% to 3,930.28.

For a full report, click on .T

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SHANGHAI - China's battered stock market rebounded on Monday after reports regulators were preparing fresh support measures, but stress in bond markets linked to state-backed conglomerate Zhuhai Huafa Group kept pressure on bond funds.

The blue-chip CSI300 Index .CSI300 ended 0.8% higher, recovering some ground following an 8.5% slump in October, its worst monthly performance in more than a decade as a selloff in technology stocks weighed on sentiment.

For a full report, click on .SS

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AUSTRALIA - Australian shares are expected to open higher on Tuesday, with miners likely to be buoyed by stronger commodity prices, while a sharp drop in oil prices and hopes of easing Middle East tensions lift sentiment.

The local share price index futures rose 0.7%, a 62-point premium to the underlying S&P/ASX 200 index .AXJO close. The benchmark slipped 0.6% on Monday.

For a full report, click on .AX

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SEOUL - South Korean shares rose more than 2% on Monday, as strong exports fuelled dip-buying sentiment in the chip sector.

The benchmark KOSPI .KS11 closed up 128.34 points, or 2.24%, at 5,859.08.

For a full report, click on KRW/

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FOREIGN EXCHANGE

NEW YORK - The dollar eased on Monday as oil prices tumbled and equities climbed ahead of a week full of catalysts, including the US midterm elections, a host of data on the US labor market and multiple central bank rate decisions.

The dollar index , which measures the greenback against a basket of currencies including the yen and the euro, fell 0.38% to 101.59 and was on track for its biggest daily percentage decline since October 15.

For a full report, click on USD/

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CHINA - China's yuan hovered near a more-than-four-year high against the dollar on Monday, as investors turned their attention to this week's US midterm elections for possible impact on global financial markets.

In the spot market, the onshore yuan was up 0.01% at 6.6551 per dollar as of 0249 GMT, not far from a more-than-four-year high of 6.6523 hit on Friday.

For a full report, click on CNY/

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AUSTRALIA - The Australian dollar marked time on Monday ahead of a policy decision where rates are set to hit an 18-year high, while the New Zealand dollar braced for an election week that could see a change in government and, possibly, the central bank's mandate.

The Aussie held at $0.7030, after ending Friday little changed despite a sharp selloff in global equities.

For a full report, click on AUD/

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SEOUL - The won was quoted at 1,343.8 per dollar on the onshore settlement platform , 0.71% lower than its previous close at 1,334.3.

For a full report, click on KRW/

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TREASURIES

NEW YORK - Longer-dated US Treasury yields were lower on Monday as oil prices dropped more than 6% as Iran indicated it is open to peace talks after eight months of war in the Middle East that have kept energy prices elevated and put pressure on inflation.

The yield on the benchmark US 10-year Treasury note fell 4.9 basis points to 4.88%. The yield on the 30-year bond fell 5.7 basis points to 5.252%.

For a full report, click on US/

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LONDON - Euro zone government bond prices rallied sharply on Monday, sending yields lower, as oil headed for its biggest one-day drop since August, allowing French government bonds to shrug off Fitch's revision of the country's outlook to negative from stable.

Germany's 10-year yield, the benchmark for the euro zone, was last 2 basis points lower at 3.3%, with its 2-year yield mostly steady at 3.02%. ,

For a full report, click on GVD/EUR

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TOKYO - Japanese government bond yields edged up on Monday as investors awaited a series of auctions in the coming weeks, while expectations are that recent declines in global yields may pause.

The benchmark 10-year JGB yield was unchanged at 2.77%, retreating from 2.785% scaled earlier in the session.

For a full report, click on JP/

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COMMODITIES

GOLD - Gold prices rose more than 2% on Monday, rebounding from a one-year low hit in the previous session, supported by a retreat in oil prices that tempered inflation worries, while investors awaited US midterm elections later this week.

Spot gold rose 2.1% to $3,954.41 per ounce at 1:49 p.m. ET (1849 GMT), having ended 3.6% lower on Friday to hit its lowest since October 2025.

For a full report, click on GOL/

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IRON ORE - Iron ore prices stabilised on Monday on a smaller-than-expected cut in demand for the key steelmaking ingredient in top consumer China, where its price has been weighed down in the last couple months over market expectations of a fourth quarter supply glut.

The most-traded iron ore contract on China's Dalian Commodity Exchange erased earlier gains to end daytime trade down 0.07% at 674.5 yuan ($101.46) a ton.

For a full report, click on IRONORE/

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BASE METALS - Copper prices rose on Monday, supported by a weaker dollar, lower oil prices and a downgrade to Chile's copper production outlook, though investors remained cautious ahead of Tuesday's US midterm elections.

Benchmark three-month copper on the London Metal Exchange was up 1.4% at $14,349 a metric ton by 1700 GMT.

For a full report, click on MET/L

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OIL - Oil prices fell more than 7% on Monday as talks between Iranian and Qatari officials lifted hopes for an end to the US-Israeli war with Iran and stabilization of Middle East crude supply.

Brent crude futures fell $8.47, or 7.47%, to $104.96 a barrel by 12:24 p.m. EST (1724 GMT). US West Texas Intermediate crude was down $7.50, or 7.2%, at $96.62.

For a full report, click on O/R

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PALM OIL - Malaysian palm oil futures fell on Monday, as lower Indonesian export costs intensified competitive pressure, while weaker crude oil prices and concerns over rising inventories added further pressure.

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange slid 31 ringgit, or 0.66%, to 4,650 ringgit ($1,144.19) a metric ton at the close.

For a full report, click on POI/

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RUBBER - Japanese rubber futures fell on Monday as a dip in oil prices and weaker Tokyo shares weighed on the commodity, extending three consecutive weekly losses and eroding previous upside momentum.

The Osaka Exchange (OSE) rubber contract for April delivery , was down 4.3 yen, or 0.97%, at 438.1 yen ($2.78) per kg

For a full report, click on RUB/T

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