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LAST CHANGE % CHG
Get index data by Email
Japan: Nikkei 225 15950.92 91.92 0.58%
Hang Seng 20480.36 92.83 0.46%
Shanghai Composite 2885.78 43.59 1.53%
S&P BSE Sensex 26482.57 86.86 0.33%
Australia: S&P/ASX 5188.80 -14.50 -0.28%
UK: FTSE 100 5923.53 -121.44 -2.01%
DJIA 17674.82 -57.66 -0.33%
Asia Dow 2636.59 6.28 0.24%
Global Dow 2279.59 3.17 0.14%

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LAST(MID) CHANGE
Euro (EUR/USD) 1.1206 0.0000
Yen (USD/JPY) 106.23 0.12
Pound (GBP/USD) 1.4141 0.0027
Australia $ (AUD/USD) 0.7368 0.0010
Swiss Franc (USD/CHF) 0.9639 0.0007
WSJ Dollar Index 86.79 -0.03
Futures12:14 AM EDT 6/15/2016
LAST CHANGE % CHG
Crude Oil 47.80 -0.69 -1.42%
Brent Crude 49.13 -0.70 -1.40%
Gold 1287.3 -0.8 -0.06%
Silver 17.410 -0.014 -0.08%
E-mini DJIA 17574 2 0.01%
E-mini S&P 500 2065.00 -1.00 -0.05%

Government Bonds12:23 AM EDT 6/15/2016
PRICE CHG YIELD
U.S. 10 Year -2/32 1.623
German 10 Year 0/32 0.000
Japan 10 Year 5/32 -0.182

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Commodities & Futures
12:14 AM EDT 6/15/2016
Futures LAST CHANGE % CHG
See all Futures
Crude Oil 47.80 -0.69 -1.42%
Brent Crude 49.13 -0.70 -1.40%
Natural Gas 2.604 0.000 0.00%
Gasoline 1.4887 -0.0326 -2.14%
Gold 1287.2 -0.9 -0.07%
Silver 17.410 -0.014 -0.08%
Corn 439.50 -2.25 -0.51%
Wheat 497.5 -0.3 -0.05%
E-mini DJIA 17574 2 0.01%
E-mini S&P 500 2064.75 -1.25 -0.06%
Indexes LAST CHANGE % CHG
Reuters-Jefferies CRB 192.208 -0.691 -0.36%
S&P GSCI 372.96 -3.04 -0.81%

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Price: US$/lb

Copper June 14,23:55
Bid/Ask 2.0497 - 2.0506
Change +0.0163 +0.80%
Low/High 2.0334 - 2.0517
Charts

Nickel June 14,23:29
Bid/Ask 4.0508 - 4.0553
Change +0.0204 +0.51%
Low/High 4.0123 - 4.0621
Charts

Aluminum June 14,23:57
Bid/Ask 0.7264 - 0.7266
Change -0.0023 -0.31%
Low/High 0.7248 - 0.7288
Charts

Zinc June 14,23:57
Bid/Ask 0.9057 - 0.9061
Change -0.0059 -0.65%
Low/High 0.9043 - 0.9125
Charts

Lead June 14,23:25
Bid/Ask 0.7653 - 0.7664
Change -0.0007 -0.09%
Low/High 0.7646 - 0.7694
Charts

Uranium Jun 06, 2

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BVL emergente:No habrá un gran efecto de corto plazo, ¿por qué?

Martes 14 de junio del 2016 | 18:00
El que la BVL siga siendo considerada como mercado emergente por el MSCI sí será importante para el mediano y largo plazo

BVL emergente:No habrá un gran efecto de corto plazo, ¿por qué?
La BVL sigue siendo un mercado emergente, pero debe sumar más acciones al índice MSCI para asegurar su estatus. (Foto: Andina)

La ratificación obtenida por la Bolsa de Valores de Lima (BVL) como mercado emergente por parte del MSCI tendrá más un efecto de mediano y largo plazo antes que un efecto inmediato, según afirmó Diego Lazo, jefe de Research de Renta 4 SAB.
"El que la BVL se quede como mercado emergente es un anuncio positivo, será un catalizador importante para consolidar la tendencia alcista que hemos visto en el mercado en el último año", sostuvo Lazo.
Sin embargo, consideró que un gran efecto no se verá en el corto plazo. La principal razón es la siguiente: La BVL es la bolsa más rentable del mundo en dólares con un alza de 42,8%, por lo que ya no hay mucho espacio para subir.
"Los precios de las acciones están cerca de sus niveles objetivo. La rentabilidad ha sido alta en el año. Por eso, el efecto de ser mercado emergente será más de mediano y largo plazo", dijo.
Además, de ello, el mercado ya había descontado parcialmente la noticia. "Desde que a inicios de mayo, MSCI decidió mantener a Southern como activo peruano, aumentaron a 80% las posibilidades de que la BVL se mantenga como emergente, por tanto, era una noticia ya esperada", indica Lazo.
Mantenerse
La gran tarea para todos los actores del mercado de valores peruano será no volver a poner en riesgo la categoría de emergente. Lo mínimo que se requiere es tener tres valores en el MSCI, y el Perú solo tiene 3: Buenaventura, Credicorp y Southern.
"Tenemos tres acciones más que pueden entrar al índice MSCI, esperemos que se concrete pronto", señala Lazo. "Lo bueno de toda esta incertidumbre, es que nos ha hecho dar cuenta de nuestras falencias. Hay que hacer la BVL más atractiva", añadió.
El año pasado el MSCI anunció que el Perú saldría del mercado emergente para pasar al fronterizo. Mira en el video la conmoción que eso causó

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Delays Adding China’s Local Currency Shares to Emerging-Market Index

Investors are reflected in the stock board as they monitor the Shanghai index, which is down 20% year to date, making it the worst performing market around the world. ENLARGE
Investors are reflected in the stock board as they monitor the Shanghai index, which is down 20% year to date, making it the worst performing market around the world. Photo: Zuma Press

By
Carolyn Cui
Updated June 14, 2016 7:18 p.m. ET
MSCI Inc., a widely-followed global index provider, said on Tuesday it wasn't adding China’s local-currency shares to its benchmark emerging markets index, a fresh setback for China’s efforts to join international markets.

The inclusion of China’s local-currency shares, known as A shares, had been widely anticipated by global investors and Wall Street. It was expected to bring tens of billions of dollars into China’s stock market at a time when its economy is cooling and capital is fleeing. The MSCI Emerging Markets Index is tracked by money managers with some $1.5 trillion of assets.

But MSCI said investor concern over the openness and transparency of Chinese markets, despite years of reform, convinced the index provider that China’s A shares weren't ready for the index.

“International institutional investors clearly indicated that they would like to see further improvements in the accessibility of the China A shares market before its inclusion in the MSCI Emerging Markets Index,” said Remy Briand, global head of research at MSCI.

MSCI’s decision is a blow to Chinese authorities who have been eager to attract more foreign capital to their stock market. To win over MSCI, Chinese regulators recently stepped up their reform efforts, such as creating new rules that limit how long companies could suspend trading in their shares, and allowing foreign money management funds to take bigger stakes in the market.

The index provider welcomed those moves but said investors “stressed the need for a period of observation to assess the effectiveness” of these changes. Some investors raised concern that Beijing could impose new controls during the next market selloff.

“We need to see how the regulators behave in turmoil again,” said Jorge Mariscal, chief investment officer of emerging markets at UBS Wealth Management.

MSCI said its decision to hold off also reflected continuing issues for foreign investors, such as provisions that prevented them from taking out more than 20% of their investment each month.

The firm has already been reviewing the Chinese market for three years. After it declined to include the A shares in its index last year, Chinese stocks fell 40%, and about $600 billion of market value was wiped out over the course of a few weeks.

But investors say they market is less likely to suffer a sharp sell off this time because share prices are at much lower levels.

MSCI said it could still add A shares over the course of next year if China makes significant positive developments before the next review.

Without MSCI’s inclusion of A shares in its benchmark emerging markets index, most global investors will continue to exclude China’s $7 trillion yuan-denominated market, the second largest stock market in the world behind the U.S.

Chinese shares listed in New York and Hong Kong are already represented in the MSCI Emerging Markets Index. But confusion over China’s exchange-rate policy and its underlying economic strength have kept many foreigners wary of owning any yuan-denominated assets. The Chinese yuan has depreciated against the dollar by 1.5% so far this year.

Global investors have trimmed their holdings in China since last summer after Chinese regulators took extreme measures to prop up stocks. Those included large purchases by government-backed entities and a ban on short selling. These actions raised questions about Beijing’s resolve to let market forces prevail.

Joe Gubler, a portfolio manager at Causeway Capital Management LLC, where he manages an emerging markets equities fund with $2.6 billion under management, said he agreed that it was too soon to include China shares in the index. The market turmoil in China in 2015 he said spooked foreign investors, he said.

“When you see things like what happened in 2015, you start to worry is there capital mobility, that under duress, investors wouldn’t be able to get their money out,” he said.

Overseas investors currently hold 1.3% of China’s onshore equities and 1.6% of its onshore bonds, according to J.P. Morgan Securities plc. Total foreign holdings in the markets amounted to “a negligible amount” of $180 billion, the bank said.

—Julie Wernau contributed to this article.

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Global Stocks Snap Losing Streak Ahead of Fed Rate Decision

Global stocks rose Wednesday for the first time this week, pausing a steep selloff as investors shifted their focus to the Federal Reserve.

Bank shares helped lift the Stoxx Europe 600 up 1.5% in morning trade, following a strong session in Asia. Futures pointed to a 0.3% opening gain for the S&P 500, after Wall Street’s sharpest four-day drop since February. Changes in futures do not necessarily reflect market moves after the opening bell.

Later Wednesday, the Federal Reserve announces its June interest rate decision and holds a press conference with Chairwoman Janet Yellen. The U.S. central bank is widely expected to keep rates on hold following the worst jobs report in six years, but investors will closely watch its forecasts and policy statement for hints at what the bank might do later this year

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“May’s employment data was positive on the margin for risk assets, turning what had become increasingly hawkish Fed rhetoric more cautious,” said Daniel Waldman, strategist at UBS, in a note. “But for this to persist, employment growth needs to stabilize, and the Fed’s more dovish shift, as represented by Chair Yellen’s June 6 speech, needs to last,” he added.

Market participants see just a 2%, probability of a rate rise at today’s meeting, according to Fed funds futures tracked by CME Group. The probability of a rate rise by July, however, rises to 21%, while the change of higher rates by September is at 35%.

Recent economic data has painted a mixed picture of the world’s largest economy. The May jobs report showed that hiring fell sharply, and broader economic growth slowed to 0.8% annualized in the first quarter. Still, U.S. retail sales rose solidly in May, data showed Tuesday, pointing to healthy consumer spending, while a separate report showed prices for imported goods rose by the most since 2012, suggesting inflation could be moving toward the Fed’s 2% target.

Federal Reserve Chairwoman Janet Yellen. Investors are eagerly awaiting Wednesday’s Fed rate decision.
Federal Reserve Chairwoman Janet Yellen. Investors are eagerly awaiting Wednesday’s Fed rate decision. Photo: Jose Luis Magana/Associated Press

Earlier, shares in Shanghai rose 1.6% even after a widely tracked emerging market index decided not to include a group of mainland Chinese stocks.

Shares in Japan and Hong Kong eked out small gains, while Australian shares fell as Brent crude oil dropped 1.1% to $49.27 a barrel.

In Europe, London’s FTSE 100 index rose 1.1%, recovering somewhat from its largest losing streak since August. “The FTSE is like a cat on hot bricks,” said Ipek Ozkardeskaya, analyst at London Capital Group, estimating that the U.K.’s hundred largest companies lost nearly £100 billion, ($142 billion) worth of value during the last four trading sessions.

More broadly, European stocks have shed over 7% in five consecutive days of declines, while German government bond yields have entered negative territory for the first time on record amid concerns about a June 23 referendum on U.K. membership in the European Union.

Bank shares in Europe fell for seven consecutive sessions through Tuesday, shedding over 10%, with Italy’s troubled lenders facing increasing pressure.

Investors are concerned a U.K. exit from the European Union could pressure shares throughout the continent and puncture a delicate economic recovery in the eurozone.

The European Central Bank said Tuesday it stands ready to work with the Bank of England to provide additional liquidity to financial markets if the U.K. votes to exit next week, a person familiar with the matter said.

As risk appetite returned Wednesday, 10-year German bond yields rose to 0.002%, while benchmark U.S. Treasurys yields climbed to 1.627%. Yields in Italy, Greece, Spain, and Portugal, however, continued to fall. Yields move inversely to prices.

Gold pulled back 0.3% to $1,284 an ounce, while the dollar rose 0.3% against the yen to ¥106.2950 after hitting its lowest 5 p.m. New York rate since September 2014 on Tuesday.

The euro inched up 0.1% against the dollar to $1.1217.

—Tom Fairless and Eric Morath contributed to this article

Write to Riva Gold at riva.gold@wsj.com

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‘Brexit’ Vote: Investors Go From Denial to Fear

There’s a familiar pattern for how markets treat tight political events. First, investors ignore them. Then, a few months ahead, some start to hedge against a bad outcome. About two weeks beforehand, panic sets in. With Britain’s referendum on whether to leave the European Union now less than a fortnight away, anxiety has finally turned to fear among investors.

In the eurozone, Tuesday will go down in market history as the day the region’s benchmark bond turned negative: The 10-year German bund closed at minus 0.008% in a flight to safety. Investors worrying about a British exit from the EU—“Brexit”—should remember what this means: They are so worried that they are prepared to pay the German government to take their money for a decade.

Money flooded into other havens, too. The Swiss franc had its best day against the euro since March last year, according to Thomson Reuters Datastream, and hit its highest level for the year, while gold in euro terms approached its high hit during the global worries in March.

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At the same time, the euro sold off against the dollar, dropping 0.7% to $1.12. Worries about the pound—which fell 1% against the dollar—have morphed into worries about the euro.

We know what euro worries mean: Sell the eurozone’s weakest countries and its banks. Sure enough, the spreads of 10-year yields of Italy, Spain and Portugal over Germany—a standard measure of how risky they are seen to be—are at the highest since the global selloff in February.

Investors have even lost some of their faith in Ireland, the poster child for eurozone policy success, with its spreads over Germany now at the highest since last summer.

Eurozone banks, meanwhile, have fallen 10% in the past three days.

These are very short-term moves, but they show some of the problems investors have in working out what will happen. It has become expensive to protect against falls in the pound using options markets, so many are looking to bet on the knock-on effects of a British exit. One of the most obvious is that cracks widen elsewhere in Europe.

U.S. markets haven’t been immune, either. While the S&P 500 still isn’t far from its 2015 peak, there’s been a sudden jump in the cost of using options to protect against falls in share prices. The VIX measure of implied volatility, widely known as Wall Street’s “fear gauge,” is actually a proxy for the cost of options. It has leapt from under 14 on Thursday to briefly pass 22 on Tuesday. Moves like this in the past almost always accompanied a big fall in shares, but so far the equity market has dropped only slowly.

The cliché has it that markets hate uncertainty, and it’s true. But there’s something deeper going on: Investors are trying to price a binary risk—Britain either leaves or remains in the EU—using instruments not designed for the job. Just as with the Scottish referendum on leaving the U.K. in 2014, or the standoff over the U.S. debt ceiling in 2011, investors kept their fingers crossed that nothing bad would happen until the risk became so obvious that they could no longer ignore it.

Both the Scottish and U.S. cases led to sharp selloffs. In the U.S. the standoff had long-lasting effects even after it was resolved. The political drama triggered a downgrade of Treasurys by Standard & Poor’s, while falling shares and investors’ search for safety worsened the second round of the eurozone crisis.

In the case of Brexit, there is fierce debate on whether the effects for the rest of the world would extend beyond another summer selloff. But in the short run, it is hard to believe that Brexit is fully priced in, meaning it would trigger a sharp drop in the pound, at the very least. After Brexit, investors are sure to look to EU faultlines, putting the troubled peripheral countries in focus along with potential for exit pressure to build in Denmark, Sweden or the Netherlands. Already, implied volatility for Sweden’s currency has jumped to the highest since last summer.

If Britain votes to remain, it’s natural to expect a big snap back in everything that’s sold off, boosting sterling, the euro, peripheral country bonds and shares, and hurting safe bonds and the Swiss franc.

And this is the problem facing investors. No investor should bet their portfolio on the toss of a coin, but diversifying between heads and tails amounts to accepting they will win nothing. Investors who have a strong view on the outcome could make a lot of money if they’re right, or lose a lot if they’re wrong. Investors who merely want to hedge against loss in case of Brexit have to accept the cost means they will underperform badly if Britain stays in.

Write to James Mackintosh at James.Mackintosh@wsj.com

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2289.27 12.85 0.56%
Japan: Nikkei 225 15919.58 60.58 0.38%
Stoxx Europe 600 324.35 3.82 1.19%
UK: FTSE 100 5976.40 52.87 0.89%
CURRENCIES6:10 AM EDT 6/15/2016
LAST(MID) CHANGE
Euro (EUR/USD) 1.1226 0.0020
Yen (USD/JPY) 106.30 0.20
Pound (GBP/USD) 1.4199 0.0085
Australia $ (AUD/USD) 0.7407 0.0049
Swiss Franc (USD/CHF) 0.9651 0.0019
WSJ Dollar Index 86.64 -0.18
GOVERNMENT BONDS6:09 AM EDT 6/15/2016
PRICE CHG YIELD
U.S. 10 Year -6/32 1.635
German 10 Year -1/32 0.003
Japan 10 Year 7/32 -0.190
FUTURES6:00 AM EDT 6/15/2016
LAST CHANGE % CHG
Crude Oil 47.95 -0.54 -1.11%
Brent Crude 50.71 -0.64 -1.25%
Gold 1285.2 -2.9 -0.23%
Silver 17.440 0.016 0.09%
E-mini DJIA 17630 58 0.33%
E-mini S&P 500

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Bolsas de Asia operan volátiles antes de decisión de la Fed, referendo R. Unido

SINGAPUR/TOKIO (Reuters) - Las bolsas de Asia operaban volátiles el miércoles antes de una decisión de política monetaria de la Reserva Federal de Estados Unidos más tarde en el día y por el temor a una posible salida del Reino Unido de la Unión Europea.

El índice MSCI de acciones asiáticas fuera de Japón operaba sin cambios a las 0640 GMT, después de oscilar más temprano entre ganancias y pérdidas. El referencial acumula un declive de un 3,8 por ciento en los cuatro días anteriores de negociación.

En Japón, el índice Nikkei de la bolsa de Tokio cerró con un alza de un 0,4 por ciento.

Los valores en China continental revirtieron las pérdidas que registraron inicialmente cuando el proveedor estadounidense de índices MSCI Inc anunció que no incorporará a las acciones del país a su referencial de mercados emergentes.

La Fed concluirá su reunión de junio más tarde en el día. Los futuros de los fondos federales muestran que los inversores no esperan que el banco central estadounidense suba las tasas de interés después del reporte sombrío de nóminas no agrícolas para mayo.

Las preocupaciones sobre un referendo británico la próxima semana, que podría llevar a la salida del Reino Unido de la Unión Europea, eclipsaban cualquier optimismo por los sólidos datos de ventas minoristas en Estados Unidos publicados el martes.

En los mercados de divisas, el yen cotizaba a 106,25 unidades por dólar, tras tocar el martes un máximo en seis semanas de 105,63 yenes. El euro operaba en 118,92 yenes, después de caer a un mínimo de 118,48 unidades.

En los mercados de materias primas, los futuros del petróleo en Estados Unidos bajaban un 1,3 por ciento, a 47,88 dólares por barril, y el crudo Brent de Londres también retrocedía un 1,3 por ciento, a 49,18 dólares por barril.

(Reporte adicional de Tomo Uetake. Editado en español por Carlos Aliaga)

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Nuevos préstamos de bancos chinos en yuanes superan las previsiones en mayo

PEKÍN (Reuters) - Los bancos chinos ofrecieron 985.500 millones de yuanes (149.560 millones de dólares) en nuevos préstamos en mayo, superando las expectativas de los analistas y muy por encima de los niveles del mes anterior, luego de que el banco central mantuvo su política monetaria expansiva para apoyar a la economía.

El banco central se comprometió a mantener la política laxa aún después de que un artículo publicado en mayo en el People's Daily citó a una "persona autorizada" advirtiendo que China podría sufrir una crisis financiera o una recesión si el Gobierno depende demasiado del estímulo alimentado por la deuda.

Los economistas consultados por Reuters esperaban que los nuevos préstamos ascendieran a 750.000 millones de yuanes el mes pasado, frente al mínimo en seis meses que anotaron en abril de 556.000 millones de yuanes.

El banco central también dijo que el suministro de dinero en sentido amplio (M2) de China creció un 11,8 por ciento en mayo respecto al mismo mes del año anterior, por debajo del 12,8 por ciento de abril. Los analistas esperaban un incremento de un 12,5 por ciento en mayo.

Los préstamos en yuanes pendientes de pago aumentaron un 14,4 por ciento a fines de mes sobre una base anual, frente a las expectativas de un alza de un 14,2 por ciento.

(Reporte de Kevin Yao. Editado en español por Carlos Aliaga)

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Bolsas europeas rebotan, acciones de Zodiac saltan tras incremento de ventas

Por Sudip Kar-Gupta

LONDRES (Reuters) - Las bolsas europeas rebotaban el miércoles tras cinco días consecutivos de pérdidas en medio de la inquietud en los mercados sobre el referendo que decidirá si el Reino Unido continúa en la Unión Europea.

El índice FTSEurofirst 300 de las principales acciones europeas subía un 0,9 por ciento, al igual que el referencial STOXX Europe 600.

Las acciones del grupo francés Zodiac Aerospace saltaban un 8,1 por ciento tras anunciar un incremento en sus ventas de un 5,9 por ciento en los nueve meses y ratificar sus objetivos financieros para el año fiscal en curso.

(Reporte de Sudip Kar-Gupta. Traducido por la Redacción de Madrid; editado por Carlos Aliaga vía Mesa Santiago)