Asia Morning Call-Global Markets

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** indicates closing price

All prices as of 18:23 GMT

EQUITIES

GLOBAL - A gauge of global share markets was little changed on Thursday as it headed for its second straight quarter of solid gains, while a strong dollar kept the yen near its weakest in decades amid the threat of intervention from Japanese authorities.

MSCI's gauge of stocks across the globe EURONEXT:IACWI fell 0.01%. The index was on pace to post a gain of over 7% for the first quarter.

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NEW YORK - Wall Street's main indexes struggled for direction on Thursday in lean trading ahead of Easter break, while investors awaited data to gauge the Federal Reserve's policy path on the last business day of a strong first quarter.

At 11:21 a.m. ET, the Dow Jones Industrial Average DJI was down 8.46 points, or 0.02%, at 39,751.62, the S&P 500 SPX was up 5.65 points, or 0.11%, at 5,254.14, and the Nasdaq Composite IXIC was down 1.01 points, or 0.01%, at 16,398.51.

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LONDON - Europe's STOXX 600 closed at a record high on Thursday, finishing its second-straight quarter in gains, with retailer JD Sports notching its strongest day in over four years after reiterating its annual profit forecast.

The pan-European STOXX 600 SXXP ended 0.2% up, closing a week that was marked by four range-bound sessions ahead of a holiday extended weekend.

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TOKYO - Japan's Nikkei share average fell on Thursday as numerous stocks were discounted for dividend rights before the fiscal year end, while caution over a potential currency intervention to shore up the yen also weighed on sentiment.

The Nikkei NI225 ended down 1.46% at 40,168.07, with 202 of its 225 components falling versus just 23 that rose. The index is, however, still set for a 20% jump in the January-March quarter.

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SHANGHAI - China stocks jumped on Thursday on expectations that Beijing will take more aggressive measures to stimulate the economy, while an official's speech also helped sentiment.

The blue-chip CSI300 index 3399300 was up 0.52%.

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AUSTRALIA - Australian shares posted a record closing high on Thursday, with most heavyweight sectors logging strong gains, while investors globally looked forward to a keenly awaited U.S. inflation report due later this week for more clues on interest rate cuts.

The S&P/ASX 200 index XJO closed 1% higher at 7,896.90. It rose 2.6% in March, logging its fifth straight monthly gain.

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SEOUL - South Korean shares fell on Thursday, as investors took a wait-and-see approach ahead of U.S. inflation data due on Friday. The won strengthened, while the benchmark bond yield was little changed.

The benchmark KOSPI KOSPI closed down 9.29 points, or 0.34%, at 2,745.82.

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FOREIGN EXCHANGE

NEW YORK - The dollar gained on the euro on Thursday after a U.S. Federal Reserve policy maker said he wasn't in a hurry to cut rates, while traders also prepared for key U.S. economic data due on Friday and squared positions for month- and quarter-end.

The dollar index fell 0.05% to 104.37, after earlier touching 104.73, its highest since mid-February. DXY

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SHANGHAI - China's yuan was steady on Thursday as the central bank's strong guidance offset pressure from a firmer dollar, while market attention was focused on upcoming key U.S. inflation.

In the spot market, the yuan USDCNY opened at 7.2249 per dollar and was changing hands at 7.2253 at midday, 12 pips stronger than the previous late session close.

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AUSTRALIA - The Australian and New Zealand dollars were under pressure on Thursday as hawkish comments from the Federal Reserve gave their U.S. counterpart a lift, while intervention fears supported the Japanese yen.

The Aussie eased 0.1% to $0.6528 AUDUSD, leaving it uncomfortably close to chart support in the $0.6504/10 area. A break of the latter would risk a return to February's trough of $0.6443.

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SEOUL - South Korean shares fell on Thursday, as investors took a wait-and-see approach ahead of U.S. inflation data due on Friday. The won strengthened, while the benchmark bond yield was little changed.

The won ended onshore trade USDKRW at 1,346.2 per dollar, 0.19% higher than its previous close at 1,348.7.

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TREASURIES

NEW YORK - U.S. Treasury yields firmed early on Thursday but ticked down slightly after the release of fourth quarter U.S. data showing faster-than-previously reported economic growth, remaining in narrow bands ahead of an early close before the Friday's market holiday.

The yield on the benchmark U.S. 10-year Treasury note US10Y was up 2 basis points at 4.218%.

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LONDON - Euro zone bond yields edged up on Thursday after Federal Reserve Governor Christopher Waller advocated a higher-for-longer rate strategy ahead of inflation data which could affect the central banks' policy path.

Germany's 10-year bond yield (DE10YT=RR), the benchmark for the bloc, was last very slightly higher at 2.295%, although remained around its lowest since the middle of the month.

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TOKYO - Japanese government bond yields sank on Thursday, tracking an overnight decline for U.S. peers, while traders also tried to determine how soon the Bank of Japan could raise interest rates again.

Benchmark 10-year JGB futures (2JGBv1) rose 0.14 yen to 145.88.

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COMMODITIES

GOLD - Gold prices climbed on Thursday and were set to log their best month in over a year, bolstered by strong safe-haven demand, U.S. interest rate cut expectations and central bank buying.

Spot gold GOLD gained 0.5% to $2,204.99 per ounce as of 10:20 a.m. EDT (1420 GMT), eyeing its best month since November 2022 gaining around 8% so far.

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IRON ORE - Iron ore futures were mixed on Thursday, with China's Dalian contract falling for athird consecutive day, hurt by a slow start to China's construction season and higher supply from Brazil.

The most-traded May iron ore on the Dalian Commodity Exchange TIO1! closed 1.9% lower at 797 yuan ($110.27) per metric ton.

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BASE METALS - Copper and aluminium prices rose in London on Thursday as traders squared positions ahead of the end of the first quarter, which coincides with the Easter weekend in the UK.

Three-month copper HG1! on the London Metal Exchange (LME) was up 0.3% at $8,870.5 a metric ton by 1701 GMT.

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OIL - Oil prices rose by more than $1 a barrel on Thursday, after falling for two consecutive sessions, on the prospect of supplies given the OPEC+ producer alliance is widely expected to stay the course on its current production cuts.

Brent crude futures for May BRN1! were up $1.30, or 1.5%, at $87.39 a barrel at 1:28 p.m. EDT (1728 GMT).

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PALM OIL - Malaysian palm oil futures fell for a second straight session to a two-week closing low on Wednesday, mirroring losses in rival oils.

The benchmark palm oil contract FCPO1! for June delivery on the Bursa Malaysia Derivatives Exchange fell 101 ringgit, or 2.38% to 4,135 ringgit ($874.39) a metric ton at closing, the lowest close since March 13.

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RUBBER - Japanese rubber futures closed higher for a third consecutive session on Thursday, reversing early losses on a technical rebound, while higher oil prices lent support.

The Osaka Exchange (OSE) rubber contract for September delivery TRB1!, TRB1! rose 5 yen or 1.56%, at 326.2 yen ($2.16).

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