Base Metals Preview: COMEX copper up more than 1% in early Asia

COMEX copper is up more than 1% in early Asian trades on Thursday as China markets re-open the week-long Golden Week holiday and investors shrugged off broader Asian market uncertainty following an overnight Wall Street selloff driven by a sharp rise in US Treasury yield. Meanwhile, a major labor dispute in Chile, the world's leading copper-producing country is also influencing demand for the red metal. However, pull back in US equities after trending higher over the past several sessions could cap gains in the counter which is currently quoting at $6.73 per pound. The tech-heavy Nasdaq ended the day down 61.20 points or 0.2 percent to 27,538.69 after slumping by as much as 0.9 percent in early trading. The S&P 500 also dipped 17.16 points or 0.2 percent to 7,801.77, while the narrower Dow slid 341.41 points or 0.7 percent to 51,179.87.

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