Asia Morning Call-Global Markets

April 3 (Reuters) -

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** indicates closing price

All prices as of 1825 GMT

EQUITIES

GLOBAL - Oil prices surged, U.S. bond yields spiked on Thursday, and global equity markets gave back gains after remarks from U.S. President Donald Trump dashed hopes of a swift resolution to the Middle East war.

MSCI's gauge of stocks across the globe .MIWD00000PUS fell 0.43% to 992.44.

For a full report, click on MKTS/GLOB

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NEW YORK - Wall Street's main indexes pared someearly declines on Thursday, in the last session of a holiday-truncated week, as investors assessed indications that shipping through the crucial Strait of Hormuz could be restored.

At 12:05 p.m. ET, the Dow Jones Industrial Average .DJI fell 140.30 points, or 0.30%, to 46,425.44, the S&P 500 .SPX lost 11.64 points, or 0.18%, to 6,563.58 and the Nasdaq Composite .IXIC lost 50.56 points, or 0.23%, to 21,790.38.

For a full report, click on .N

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LONDON - Europe's main stock index trimmed losses on renewed hopes of a reopening of the crucial Strait of Hormuz, even as U.S. President Donald Trump's promise to keep striking Iran kept sentiment in check.

The pan-European STOXX 600 index .STOXX dipped 0.2% to 596.63 points on Thursday, after falling as much as 1.6% earlier in the session.

For a full report, click on .EU

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TOKYO - Japan's Nikkei share average fell more than 2% on Thursday, reversing earlier gains as hopes for a quick end to the Middle East conflict faded after U.S. President Donald Trump vowed more strikes on Iran.

The Nikkei .N225 closed 2.38% lower at 52,463.27, after rising as much as 0.97% earlier in the session. The broader Topix .TOPX reversed early gains, ending 1.61% lower at 3,611.67.

For a full report, click on .T

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SHANGHAI - Mainland China and Hong Kong stocks ended lower on Thursday as investor sentiment weakened after U.S. President Donald Trump gave no clear timeline for ending the Iran war in a televised speech.

Meanwhile, in Hong Kong, the benchmark Hang Seng Index .HSI dropped 0.7% and the city's tech shares .HSTECH plunged 1.63%.

For a full report, click on .SS

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AUSTRALIA - Australian shares gave up early gains to end lower on Thursday, hit by broad-based losses, as risk appetite faded after U.S. President Donald Trump vowed more aggressive strikes on Iran and gave no concrete timeline for ending the war.

The benchmark S&P/ASX 200 index .AXJO closed down 1.1% - its biggest daily decline since March 19 - at 8,579.5 points. However, the index logged a 0.7% gain for the holiday-shortened week.

For a full report, click on .AX

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SEOUL - South Korean shares closed more than 4% lower on Thursday as hopes faded that the Iran war could end soon after U.S. President Donald Trump vowed to continue hitting targets.

The benchmark KOSPI .KS11 closed down 244.65 points, or 4.47%, at 5,234.05, after steep losses triggered a sidecar trading curb during the session.

For a full report, click on KRW/

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FOREIGN EXCHANGE

NEW YORK - The dollar rose sharply from two straight sessions of losses on Thursday after U.S. President Donald Trump's speech on Iran undermined market expectations of a swift end to the conflict, renewing a bid for safe-haven assets.

The dollar index =USD, which measures the greenback against a basket of currencies, climbed 0.35% to 99.92.

For a full report, click on USD/

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SHANGHAI - China's yuan slid from a three-week high against the dollar on Thursday after U.S. President Donald Trump gave no clear timeline for ending the Middle East war in a prime-time speech, and instead warned of more strikes on Iran in the weeks ahead.

The dollar advanced on safe-haven buying following Trump's speech and pressured other major currencies, including the yuan. The onshore yuan CNY=CFXS eased to 6.8850 per dollar as of 0303 GMT from a three-week high of 6.8708 hit a day earlier.

For a full report, click on CNY/

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AUSTRALIA - The Australian and New Zealand dollars retreated anew on Thursday as markets scaled back expectations for a quick end to the Middle East conflict, slugging equities and bonds as stagflation fears intensified.

The Aussie quickly slipped 0.6% to $0.6882 AUD=D3, undoing a 0.4% bounce overnight. Major support lies at the 10-week low of $0.6834, and a break of that would resume the retreat toward $0.6700.

For a full report, click on AUD/

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SEOUL - South Korean won weakened against dollar on Thursday.

The won was quoted at 1,519.7 per dollar on the onshore settlement platform KRW=KFTC, 0.42% lower than its previous close at 1,513.3.

For a full report, click on KRW/

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TREASURIES

NEW YORK - U.S. Treasuries clawed back losses to trade higher on Thursday, as investors weighed comments from President Donald Trump that seemed to dim hopes of an early end to the war in the Middle East while news that Iran could be laying the groundwork to reopen the vital Strait of Hormuz tempered some risk aversion.

In midday trading, benchmark 10-year yields US10YT=TWEB were down 2.8 basis points to 4.295%, falling after an earlier rise triggered by Trump's speech. For the week, 10-year yields have fallen about 14 bps, on pace for their largest drop since the week of February 23.

For a full report, click on US/

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LONDON - Euro zone bond yields were set for a weekly fall on Thursday after moving higher early in the day on the latest headlines about the Iran conflict, with traders seeking to position ahead of a long weekend.

Germany's 10-year Bund yield, the benchmark for the euro zone, was last at 2.99% a fraction lower on the day, having earlier traded as high as 3.05%.

For a full report, click on GVD/EUR

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TOKYO - Japanese government bond yields jumped on Thursday, after U.S. President Donald Trump dashed hopes for a swift end to the Middle East war, hurting the outcome of the auction for benchmark 10-year bonds.

The 10-year JGB yield JP10YTN=JBTC jumped 9 basis points (bps) to 2.39%, matching its highest level since February 1999, scaled on Monday.

For a full report, click on JP/

COMMODITIES

GOLD

Gold prices fell on Thursday as the U.S. dollar and oil prices strengthened after President Donald Trump said the U.S. would continue attacks on Iran, spurring inflation concerns and bolstering expectations of higher interest rates.

Spot gold XAU= was down 2.2% at $4,651.35 per ounce as of 1:30 p.m. EDT (1730 GMT), after hitting a two-week high earlier in the session. U.S. gold futures GCcv1settled 2.8% lower at $4,679.70.

For a full report, click on GOL/

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IRON ORE

Iron ore futures prices slid to their lowest in nearly three weeks on Thursday, pressured by shrinking steel margins and faltering demand following the completion of pre-holiday restocking in top consumer China.

The most-traded iron ore contract on China's Dalian Commodity Exchange (DCE) DCIOcv1 slipped 1.29% to 805 yuan ($116.88) a metric ton, after touching its lowest since March 12 at 793.5 yuan earlier in the session.

For a full report, click on IRONORE/

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BASE METALS

Copper fell for the first time in five sessions on Thursday on renewed investor concerns over economic growth after U.S. President Donald Trump vowed more strikes on Iran and gave no specific timeline to end the Middle East conflict.

Benchmark three-month copper CMCU3 on the London Metal Exchange was down 0.7% at $12,349.50 per metric ton as of 1600 GMT. The metal, considered a bellwether for the global economy, was set to end the Easter holiday-shortened week up 1.3% after its earlier run of four straight daily gains.

For a full report, click on MET/L

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OIL

U.S. oil prices jumped more than 11%, while Brent soared 7% on Thursday in volatile trading, as traders worried about prolonged disruptions to oil supply the day after President Donald Trump said the U.S. would continue attacks on Iran.

Brent crude futures LCOc1 were up $6.34, or 6.3%, to $107.5 a barrel at 1610 GMT (12:10 a.m. ET). U.S. West Texas Intermediate crude CLc1 futures were up $11.19, or 11.15%, at $111.27 per barrel. WTI hit a session high of $113.97 a barrel, its biggest absolute price rise since 2020.

For a full report, click on O/R

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PALM OIL

Malaysian palm oil futures rose on Thursday, after declining in the previous session, buoyed by uncertainty around the outcome of the Middle East conflict and expectations of a drop in March output.

The benchmark palm oil contract FCPOc3 for June delivery on the Bursa Malaysia Derivatives Exchange gained 25 ringgit, or 0.52%, to 4,794 ringgit ($1,187.81) a metric ton at the close.

For a full report, click on POI/

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RUBBER

Japanese rubber futures rose on Thursday on a weaker yen, surging oil and a volatile Nikkei, after President Donald Trump failed to outline a clear end to the Iran war.

The Osaka Exchange (OSE) rubber contract for September delivery JRUc6, 0#2JRU: was up 5.6 yen, or 0.21%, at 387.6 yen ($2.43) per kg.

For a full report, click on RUB/T

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(Bengaluru Bureau; +91 80 6749 1130)