Asia Morning Call-Global Markets

Feb 27 (Reuters) -

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** indicates closing price

All prices as of 2005 GMT

EQUITIES

GLOBAL - U.S. stocks wobbled on Wednesday amid fresh tariff threats while a draft U.S.-Ukraine deal on critical minerals and robust corporate earnings helped European shares close at a record high.

MSCI's gauge of stocks across the globe .MIWD00000PUS rose 1.82 points, or 0.21%, to 868.56.

For a full report, click on MKTS/GLOB

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NEW YORK - U.S. stocks were little changed on Wednesday ahead of Nvidia's quarterly results, which are expected to set the tone for the artificial intelligence sector.

The S&P 500 .SPX lost 5.66 points, or 0.10%, at 5,949.59 points, while the Nasdaq Composite .IXIC rose 0.74 points to 19,027.13. The Dow Jones Industrial Average .DJI fell 178.60 points, or 0.41%, to 43,442.56.

For a full report, click on .N

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LONDON - European shares closed at a record high on Wednesday as corporate earnings took centre stage and investors assessed the impact of a critical minerals agreement between the U.S. and Ukraine.

The pan-European STOXX 600 index .STOXX was up 1%, boosted by banks .SX7P for a second consecutive session.

For a full report, click on .EU

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TOKYO - Japan's Nikkei share average fell to a four-month low on Wednesday amid worries about the U.S. economic outlook and a stronger yen, but trimmed its losses by the close as investors sought to buy back cheap stocks.

The Nikkei .N225 fell 0.25% to close at 38,142.37, after falling to as low as 37,742.76, its lowest level since October 25, earlier.

For a full report, click on .T

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SHANGHAI - China and Hong Kong stocks rebounded on Wednesday, as the tech rally resumed on the country's renewed AI push and financials rallied on CICC and Galaxy Securities' high-stakes merger plan.

On the mainland markets, the Shanghai Composite index .SSEC gained 1% at close to highest since December 2024, and the blue-chip CSI300 index .CSI300 rose 0.9%.

For a full report, click on .SS

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AUSTRALIA - Australian shares were likely to open lower on Thursday, with probable losses in mining and energy stocks, a day after the country posted a drop in its monthly consumer price index for January.

The local share price index futures YAPcm1 fell 0.2%, a 31.7-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark finished 0.1% lower on Wednesday.

For a full report, click on .AX

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SEOUL - South Korean shares ended higher on Wednesday, tracking a jump in Chinese peers. The won strengthened, while the benchmark bond yield fell.

The blue-chip KOSPI .KS11 added 10.80 points, or 0.41%, to close at 2,641.09.

For a full report, click on KRW/

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FOREIGN EXCHANGE

NEW YORK - The U.S. dollar rose on Wednesday to move further from recent 11-week lows, as U.S. Treasury yields stabilized as investors gauge the economic environment and tariffs outlook.

The dollar index =USD, which measures the greenback against a basket of currencies, rose 0.35% to 106.61.

For a full report, click on USD/

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SHANGHAI - China's yuan eased slightly against the dollar on Wednesday, as signs of tight liquidity conditions partially offset investor concerns over escalations in global trade tensions.

As of 0256 GMT, the onshore yuan CNY=CFXS was 0.08% lower at 7.2585 per dollar, and its offshore counterpart CNH=D3 traded at 7.2587.

For a full report, click on CNY/

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AUSTRALIA - The Australian dollar held its nerve on Wednesday as worries about new U.S. tariffs kept global markets on edge, while a reading on local inflation was too mixed to move the dial on expectations for future rate cuts.

The Aussie was trading a fraction lower at $0.6336 AUD=D3, having found support around $0.6320 overnight.

For a full report, click on AUD/

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SEOUL - The South Korean won strengthened against the US dollar on Wednesday.

The won was quoted at 1,433.1 per U.S. dollar on the onshore settlement platform KRW=KFTC, 0.09% higher than Tuesday's close at 1,434.4.

For a full report, click on KRW/

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TREASURIES

NEW YORK - A part of the U.S. Treasury yield curve that is watched by some analysts as a possible recession indicator inverted for the first time since mid-December on Wednesday as concerns about U.S. economic growth and a more optimistic picture on longer-term debt issuance plans pull longer-dated yields lower.

The spread between yields on two-year and five-year U.S. Treasuries briefly traded negative and was last at 0.40 basis points. US2US5=TWEB

For a full report, click on US/

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LONDON - Euro zone government bond yields held near their lowest in over a week on Wednesday, as traders eyed hurdles to an expected increase in European defence spending, much of which is likely to be financed through bond issuance.

Germany's 10-year bond yield DE10YT=RR, the benchmark for the euro zone bloc, fell 1.2 basis points to 2.441%, despite a slight rebound in U.S. Treasury yields.

For a full report, click on GVD/EUR

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TOKYO - Japanese government bond yields declined on Wednesday, following a drop in U.S. Treasury yields overnight, while BOJ Governor Kazuo Ueda's comments last week about potentially increasing regular bond buying boosted investor appetite.

The 10-year JGB yield JP10YTN=JBTC fell to 1.32% earlier in the session, its lowest level since February 12.

For a full report, click on JP/

COMMODITIES

GOLD - Gold prices eased on Wednesday after a recent record rally, while investors looked towards inflation data due later this week and the latest developments on U.S. President Donald Trump's tariff plans.

Spot gold XAU= fell 0.1% to $2,912.51 an ounce as of 01:49 p.m. ET (1849 GMT).

For a full report, click on GOL/

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IRON ORE - Iron ore futures prices weakened for a third consecutive session on Wednesday, weighed down by dour outlook for Chinese steel exports and heightened trade tensions between the U.S. and top consumer China.

The most-traded May iron ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 closed 0.98% lower to finish at 812 yuan ($111.86) a metric ton.

For a full report, click on IRONORE/

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BASE METALS - U.S. copper prices jumped on Wednesday after President Donald Trump moved closer to imposing tariffs on imports, while a power outage in top producer Chile also supported the wider market.

The U.S. futures outperformed three-month copper on the London Metal Exchange CMCU3, which rose 0.4% to $9,439.50 a metric ton by 1735 GMT.

For a full report, click on MET/L

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OIL - Oil prices fell to two-month lows on Wednesday as a surprise build in U.S. fuel stockpiles signalled demand weakness and a potential peace deal between Russia and Ukraine continued to weigh on prices.

Brent crude LCOc1 was down 48 cents, or 0.66%, at $72.54 a barrel by 1:20 p.m. EST (1820 GMT).

For a full report, click on O/R

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PALM OIL - Malaysian palm oil futures rose for a second session on Wednesday on bargain buying despite bearish sentiment from industry analysts.

The benchmark palm oil contract FCPOc3 for May delivery on the Bursa Malaysia Derivatives Exchange was up 42 ringgit or 0.92% at 4,607 ringgit ($1,040.89) a metric ton at closing.

For a full report, click on POI/

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RUBBER - Japanese rubber futures closed lower for a third consecutive session on Wednesday, pressured by a stronger yen, while fears of potential U.S. tariffs on automobiles also weighed on the tire-making material.

The Osaka Exchange (OSE) rubber contract for August delivery JRUc6, 0#2JRU: ended daytime trade 7 yen lower, or 1.9%, at 361 yen ($2.42) per kg.

For a full report, click on RUB/T

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(Bengaluru Bureau; +91 80 6749 1130)