UPDATE 1-New Zealand/Australia Morning Call-Global markets

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Snapshot at: 07:23 / 2023 GMT  
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Stock Markets           NetChng                          NetChng  
S&P/ASX 200    4,832.08 -143.32  NZSX 50         6,071.3  -82.50  
DJIA          16,067.11  +40.06  Nikkei        16,085.44 -918.86  
NASDAQ         4,297.01  +13.26  FTSE           5,632.19  -57.17  
S&P 500        1,860.20   +6.76  Hang Seng     19,288.17 +105.08  
SPI 200 Fut    4,785.00  +10.00  STI            2,623.21  +64.72  
SSEC           2,763.95  -17.07  
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Bonds                    NetChg                           NetChg  
AU 10 YR Bond     2.468  +0.059  US 10 YR Bond     1.731  -0.004  
NZ 10 YR Bond     3.045  +0.015  US 30 YR Bond     2.556  -0.004  
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Currencies              1700GMT                          1700GMT  
AUD US$          0.7056  0.7039  NZD US$          0.6631  0.6599  
EUR US$          1.1283  1.1193  Yen US$          115.10  114.91  
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Commodities  
Gold (Lon)     1,191.00          Silver (Lon)      15.21  
Gold (NY)      1,190.76          Light Crude       28.33  
TRJCRB Index     156.58   -4.00  
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    EQUITIES  

NEW YORK - U.S. stocks rose in a late-day rally on Tuesday, helped by gains in biotechs including Gilead GILD.O and in materials shares.

At 2011 GMT, the Dow Jones industrial average .DJI was up 67.59 points, or 0.42 percent, to 16,094.64, the S&P 500 .SPX gained 10.28 points, or 0.55 percent, to 1,863.72 and the Nasdaq Composite .IXIC added 22.77 points, or 0.53 percent, to 4,306.52.

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    LONDON - Weaker mining and banking stocks kept Britain's top  

share index mired near three-year lows on Tuesday as concern lingered over the global economy and the health of the financial sector.

The FTSE 100 index .FTSE , was down 1 percent at 5,632.19 points at its close, near its lowest for about three years and down 20 percent from its record high of 7,122.74 in April 2015. It has lost nearly 10 percent since the start of 2016.

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    TOKYO - Japan's Nikkei share average posted its biggest  

daily drop in nearly three years on Tuesday, with banks taking the brunt of the sell-off, while a stronger yen dragged down stocks across the board.

The Nikkei .N225 ended 5.4 percent lower at 16,085.44 points, its lowest closing level since Jan. 21 and its heftiest percentage drop since mid-2013.

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    SYDNEY - Australian shares are set for a cautious start on  

Wednesday having suffered their biggest one-day fall in over four months, though a late recovery on Wall Street could help steady nerves.

Stock index futures YAPcm1 edged up 0.2 percent to 4,784.0, but was still at a 191.4-point discount to the underlying S&P/ASX 200 index (xjo) . The benchmark skidded 2.9 percent on Tuesday to its lowest close in over two years.

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    FOREIGN EXCHANGE   

NEW YORK - The U.S. dollar fell sharply on Tuesday to its lowest level in nearly four months, as measured by an index of major currencies, with fears of a global economic slowdown pushing investors into safe-haven currencies like the Japanese yen and Swiss franc.

The U.S. dollar index .DXY fell to 95.663, its lowest since Oct. 22. The dollar was trading around 114.82 yen JPY= , down 0.9 percent late Tuesday.

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    TREASURIES   

NEW YORK - U.S. Treasuries prices rose on Tuesday as investors concerned about slowing global growth continued to shun stocks, adding interest in safe-haven U.S. government debt.

Overnight, Treasury prices rose sharply, with the yield on the 10-year note US10YT=RR falling to 1.690 percent, its lowest in a year, while the yield on the 30-year bond US30YT=RR fell to 2.514 percent, its lowest since April.

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    COMMODITIES   

GOLD NEW YORK/LONDON - Gold turned higher on Tuesday but hovered beneath the previous session's 7-1/2-month high of $1,200 an ounce, buoyed by risk aversion as equities remained volatile and the dollar extended losses.

Spot gold XAU= was up 0.1 percent at $1,192.30 an ounce at 1912 GMT, below the session high of $1,198.90 and Monday's 7-1/2-month peak at $1,200.60 on Monday. U.S. gold for April delivery GCJ6 settled up 70 cents at $1,198.60 an ounce.

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    BASE METALS  

LONDON - Copper prices tumbled to two-week lows on Tuesday as the rout in equities undermined growth sentiment, though volumes were subdued by a holiday in China and a market waiting for clues on demand prospects in the country.

Benchmark copper CMCU3 ended 2.2 percent down at $4,508 a tonne. The metal used widely in power and construction earlier hit a session low of $4,467.

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    OIL  

NEW YORK - Oil prices fell 7 percent on Tuesday as equity markets remained weak, forecasts called for record high U.S. crude stockpiles to grow more, and the latest global energy demand outlooks did not look strong enough to eliminate the swelling glut.

Brent crude LCOc1 was down $2.34, or 7.1 percent, at $30.54 a barrel by 1815 GMT. U.S. crude CLc1 fell $1.45, or 5 percent, to $28.23.

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((Australia/New Zealand bureaux; +61 2 9321 8150/+64 4 802  

7980))

Keyword MORNINGCALL/UPDATE 1



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