Asia Morning Call-Global Markets

March 20 (Reuters) -

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** indicates closing price

All prices as of 2030 GMT

EQUITIES

GLOBAL - Global stocks slumped on Thursday as the latest escalation in the U.S. and Israel's war with Iran caused another spike in oil prices, while a host of major central banks left interest rates unchanged as they try to gauge the climb in price pressure.

MSCI's gauge of stocks across the globe .MIWD00000PUS fell 12.27 points, or 1.22%, to 993.20.

For a full report, click on MKTS/GLOB

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NEW YORK - Wall Street ended lower on Thursday, with declines in Micron Technology and Tesla, as worries about inflation stemming from soaring oil prices left investors pessimistic about the potential for future interest rate cuts.

The S&P 500 .SPX declined 0.27% to end the session at 6,606.49 points. The Nasdaq .IXIC declined 0.28% to 22,090.69 points, while the Dow Jones Industrial Average .DJI declined 0.44% to 46,021.43 points.

For a full report, click on .N

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LONDON - European shares tumbled on Thursday to their lowest level since December, after the European Central Bank warned that inflation could worsen if the Middle East conflict drags on.

The pan-European STOXX 600 index .STOXX closed 2.4% lower at 583.73 points, erasing gains from earlier this week.

For a full report, click on .EU

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TOKYO - Japanese stocks and bonds fell on Thursday and the yen remained fragile as investors weighed the economic impact of the prolonged Middle East conflict.

The blue-chip Nikkei .N225 plunged 3.4% to close at 53,372.53. The broader Topix .TOPX slid roughly 3% to 3,609.40.

For a full report, click on .T

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SHANGHAI - China and Hong Kong stocks tumbled on Thursday, joining a broader decline across Asia, as risk appetite was further dampened after a major escalation in the U.S. and Israel's war with Iran.

The Shanghai Composite index .SSEC briefly slipped past the 4,000 floor for the first time since January, before closing down 1.4% at 4,006.55.

For a full report, click on .SS

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AUSTRALIA - Australian shares were likely to open slightly lower on Friday, with potential losses in miners on softer resource prices, set to offset gains in energy shares supported by firm Brent crude prices, as investors monitored the Middle East conflict.

The local share price index futures YAPcm1 fell 0.1%, a 32.2-point discount to the underlying S&P/ASX 200 index .AXJO close. The benchmark fell 1.7% on Thursday.

For a full report, click on .AX

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SEOUL - South Korean shares fell more than 2% on Thursday, after the U.S. Federal Reserve held interest rates steady and signalled only one cut this year, with inflation risks from the Middle East conflict dragging on sentiment.

The benchmark KOSPI .KS11 closed down 161.81 points, or 2.73%, at 5,763.22, after hitting its highest level since February 27 on Wednesday.

For a full report, click on KRW/

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FOREIGN EXCHANGE

NEW YORK - The euro and the Japanese yen advanced against the U.S. dollar on Thursday as key central banks kept interest rates steady amid concerns about inflation from rising oil prices in the midst of the Middle East conflict.

The U.S. dollar index =USD, which measures the greenback's strength against a basket of six currencies, was last down 1% to 99.20.

For a full report, click on USD/

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SHANGHAI - China's yuan eased slightly against the U.S. dollar on Thursday, as the central bank set daily guidance weaker than expected, following escalating tensions in the Middle East and hawkish inflation comments from the Federal Reserve.

The yuan CNY=CFXS fell to as much as 6.9001 against the dollar, before trading 0.1% lower at 6.8972 as of 0255 GMT.

For a full report, click on CNY/

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AUSTRALIA - The Australian and New Zealand dollars fought to regain ground on Thursday as an expanding Middle East conflict lifted oil prices and buffeted asset markets, overshadowing a mixed bag of domestic economic data.

The Aussie had edged up 0.4% to $0.7054 AUD=D3, after retreating 1.1% overnight from a top of $0.7173 as risk sentiment globally took a beating. More chart support is down at $0.6980 and $0.6945.

For a full report, click on AUD/

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SEOUL - The won weakened past the psychological barrier of 1,500 per dollar on Thursday, while the benchmark bond yield rose.

The won was quoted at 1,501.0 per dollar on the onshore settlement platform KRW=KFTC, 0.02% lower than its previous close at 1,500.7.

For a full report, click on KRW/

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TREASURIES

NEW YORK - U.S. Treasury yields jumped at the front end of the curve on Thursday, as caution stemming from decisions by the Bank of England and the European Central Bank — against the backdrop of the Middle East conflict — spilled into the world's largest bond market.

On the longer end of the curve, the benchmark 10-year yield US10YT=RR rose 2.2 bps to 4.279%, after earlier hitting its highest since late August.

For a full report, click on US/

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LONDON - Short-dated euro zone government bond yields jumped on Thursday as traders priced in more rate hikes from Europe's central banks and energy prices surged due to the Iran war, even as the European Central Bank and Bank of England held borrowing costs steady.

German 10-year yields DE10YT=RR, the benchmark for the euro zone, rose as much as 7 bps to 3.01%, just 1 bp below their highest level since 2011.

For a full report, click on GVD/EUR

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TOKYO - apanese government bonds (JGBs) fell on Thursday as investors awaited a decision by the central bank and signals for how policymakers will address inflation pressures from surging oil prices.

The benchmark 10-year JGB yield JP10YTN=JBTC rose 3.5 basis points to 2.250%.

For a full report, click on JP/

COMMODITIES

GOLD

Gold prices dropped over 4% on Thursday, falling for a seventh consecutive session, as the Middle East conflict increased energy prices and ignited inflation concerns, raising expectations that top central banks will keep borrowing costs elevated.

Spot gold XAU= fell 4.3% to $4,612.21 per ounce by 1:31 p.m. ET (1731 GMT), its lowest level since early February.

For a full report, click on GOL/

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IRON ORE

Iron ore futures drifted lower on Thursday on easing supply pressures after China's state-backed buyer relaxed some restrictions on Jimblebar iron ore.

The most-traded May iron ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 fell 0.55% to 807.5 yuan ($117.04) a metric ton.

For a full report, click on IRONORE/

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BASE METALS

Aluminium prices tumbled as much as 8% on Thursday as speculators scrambled to liquidate bullish positions while copper sank to a three-month low on worries that surging oil prices will hit global growth at the same time the market is swamped with plentiful inventories.

Benchmark three-month aluminium CMAL3 on the London Metal Exchange tumbled 8.4% before paring losses to 4.7% at $3,240 a metric ton by 1730 GMT.

For a full report, click on MET/L

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OIL

Brent crude was up on Thursday but well off session highs of $119 a barrel while U.S. crude futures finished with a small loss hours after hitting a session high over $100 a barrel.

Brent futures LCOc1 settled at $108.65 a barrel, up $1.27, or 1.18%. Earlier in the session, Brent had climbed more than $11 to a high of $119.13, close to the 3-1/2-year peak touched on March 9. U.S. West Texas Intermediate crude CLc1 finished at $96.14 a barrel, down 18 cents or 0.19%.

For a full report, click on O/R

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PALM OIL

Malaysian palm oil futures settled more than 1% higher on Thursday, extending gains to a third consecutive week, as firmer Dalian oils supported the market, while profit-taking limited gains in a holiday truncated week.

The benchmark palm oil contract FCPOc3 for June delivery on the Bursa Malaysia Derivatives Exchange gained 84 ringgit, or 1.86%, to 4,612 ringgit ($1,171.75) a metric ton at the close.

For a full report, click on POI/

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RUBBER

Japanese rubber futures declined for a third session on Thursday, with the harvest season expected to start next week easing supply concerns.

The Osaka Exchange rubber contract for August delivery JRUc6, 0#2JRU: was down 3.5 yen, or 0.94%, at 367 yen ($2.30) per kg.

For a full report, click on RUB/T

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(Bengaluru Bureau; +91 80 6749 1130)