Asian shares edged down, while European stocks were set to inch higher following the previous roller-coaster session, although gains were seen limited ahead of Spain's short-term debt auction. The Nasdaq advanced on Monday, propelled by a rally in Apple and other big-cap tech stocks, but fears Europe's debt crisis is in danger of worsening limited broader gains.
FOREX-Euro licks wounds as focus shifts from Greece to Spain
TOKYO, June 19 (Reuters) - The euro recouped some losses sustained after Spain's borrowing costs spiked to euro-era highs, but gains were capped ahead of a debt sale which is likely to see Madrid's borrowing costs rise even more.
Markets cut short Monday's honeymoon after a pro-bailout vote in Greece, pushing Spain's bond yields to 7.3 percent, undermining Madrid's ability to finance itself less than two weeks after the EU decided to lend it 100 billion euro to boost its lenders.
G20 ramps up pressure on Europe over debt crisis, welcomes China moves towards FX reforms, reaffirms commitment to market-set exchange rates, avoid misalignments and competitive devaluations, does warn over excess volatility and disorderly movements - Reuters.
HKEx shares drop; concern it's over-paying for LME
HONG KONG, June 18 (Reuters) - Investor concern that Hong Kong Exchanges and Clearing Ltd (HKEx) , operator of Asia's largest bourse, is over-paying with its $2.2 billion buy of the London Metal Exchange knocked its shares down by the most in two weeks on Monday.
In the first session since the acquisition was announced late on Friday, HKEx shares fell 4.5 percent to their lowest close since June 8. The Hang Seng Index rose 1 percent.
Japan PM Noda - Told G20 JPY rapid rise driven by speculators, fall-out from EZ crisis - Reuters.
FinMin Azumi - Told G20 JPY rise not good for economy, urges EZ action - RTRS.
China May net FX purchases CNY23.4 bln ($3.68 bln), April CNY60.6 bln sales.
ECB/Austria CB Nowotny - Bank sector is Spain's main problem, Greece must implement reforms, must be believable, Greece doesn't have time, next fund disbursement decision by July-end - Reuters, DowJones.
RBA June 5 meeting minutes - Case for June cut finely balanced, scope for policy to be more supportive of domestic activity, no significant weakening in conditions vs forecasts, uncertainties large though
RBNZ AsstGov McDermott - Inflation targeting effective, also eyeing other other tools - Reuters.
NZ FinMin English - Won't let planned budget surplus in '14/15 slip - Reuters.
The euro recouped some losses sustained after Spain's borrowing costs spiked to euro-era highs, but gains were capped ahead of a debt sale which is likely to see Madrid's borrowing costs rise even more.
U.S. corn rose to a one-week high as the U.S. Department of Agriculture said new-crop quality had been damaged by recent hot, dry weather, prompting concerns that stocks will not be replenished as projected.
Brent crude steadied around $96 a barrel, staying close to 16-month lows hit in the prior session, as Spain's rising borrowing cost showed Europe is nowhere near resolving its debt crisis that has hurt the outlook for fuel demand.
Tokyo Steel cuts July prices, demand remains weak
TOKYO, June 18 (Reuters) - Tokyo Steel Manufacturing Co , Japan's biggest construction steel maker, said on Monday it would cut prices of its product for delivery in July by up to 9 percent to reflect sluggish demand.
It will cut prices of H-shaped beams, its major product, by 9 percent, or 8,000 yen, to 65,000 yen per tonne.
Japan May crude steel output rises 2 pct yr/yr
TOKYO, June 19 - Japan's crude steel output rose 2 percent in May from a year earlier, industry figures showed on Tuesday, as strong demand from the domestic car and construction sectors outweighed a decline in exports.
Output rose for a third consecutive month to 9.23 million tonnes during the month, the Japan Iron and Steel Federation (JISF) said on Tuesday.
Malaysian lawmakers green light rare earths plant
KUALA LUMPUR, June 19 (Reuters) - Australia's Lynas Corp is set to clear the final hurdle for its delayed $800 million rare earths plant after Malaysian lawmakers asked the government to issue the miner a temporary operating license despite community safety concerns.
The recommendations of a six-member parliamentary committee
London copper was steady, after ending slightly down in the previous session when an early euphoria over a victory for Greece's pro-bailout parties soon gave way to worries about Spain's shaky finances and wider problems in the global economy.
Gold rose for an eighth consecutive session, the longest winning streak since July last year, after a weekend victory for pro-bailout parties in Greek elections failed to shake off worries about a worsening debt crisis in Europe.
METALS-London copper steadies; euro zone eyed
SHANGHAI, June 19 (Reuters) - London copper steadied , as investors weighed the potential of monetary easing by the United States against nagging worries about the euro zone debt crisis, with the financial health of Greece and Spain back in focus.
The Federal Reserve will hold a two-day policy meeting starting on Tuesday and some economists have said that the U.S. central bank may unveil more stimulus measures following recent disappointing economic data.
PRECIOUS-Gold rises for 8th day, euro zone worries support
SINGAPORE, June 19 (Reuters) - Gold rose for an eighth consecutive session , the longest winning streak since July last year, after a weekend victory for pro-bailout parties in Greek elections failed to shake off worries about a worsening debt crisis in Europe.
Investors shifted their focus to a policy meeting by the U.S. Federal Reserve, which economists say, appears increasingly likely to offer more monetary stimulus despite political opposition, internal reticence and concerns about whether it will be effective.
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