Wednesday, July 16, 2008

Trader's Highlight

DJI-NEW YORK, July 15 (Reuters) - Global stocks fell sharply on Tuesday, knocked lower by growing fears over the outlook for banks, but a big drop in oil prices eased the slide in equity markets and slowed the flight to the safe-havens of gold and government debt.The Dow Jones industrial average <.DJI> slid 93.47 points, or 0.85 percent, at 10,961.72. The Standard & Poor's 500 Index <.SPX> fell 13.34 points, or 1.09 percent, at 1,214.96. The Nasdaq Composite Index <.IXIC> added 2.84 points, or 0.13 percent, at 2,215.71.

NYMEX
-NEW YORK, July 15 (Reuters) - U.S. crude oil futures ended more than 4 percent lower on Tuesday, after posting their largest price fall in 17 years, as traders took profits after stock prices tumbled on deepening economic worries.August crude settled down $6.44, or 4.44 percent, at $138.74 a barrel, trading between $135.92 and $146.73.

CBOT-SOYBEANS - August down 40 cents at $15.42 per bushel, new-crop November down 43 at $15.16. Plunged following sell-off in crude oil. Soy market underpinned by tension among Argentine farmers about the government tax on farm exports.

SOYOIL - August down 0.76 at 63.03 cents per lb Following declines in crude oil and soybeans.

FCPO-KUALA LUMPUR, July 15 (Reuters) - Malaysia crude palm oil futures rose 0.7 percent on Tuesday as players looked beyond dismal export data from cargo surveyors, saying overseas demand will recover soon due to the looming Asian festive season.The benchmark September contract on the Bursa Malaysia Derivatives Exchange settled up 26 ringgit at 3,550 ringgit ($1,103) per tonne.

Regional equities-Most Southeast Asian markets tumbled on Tuesday as investors fled equities on fears of banks'exposure to troubled U.S. mortgage lenders, with Thai stocks falling to their lowest in 15 months.

Thailand's benchmark SET <.SETI> slid 3.3 percent while Singapore <.FTSTI> dropped 2.5 percent.Indonesia <.JKSE> lost 2 percent, Malaysia <.KLSE> eased 1.4 percent and the Philippine index <.PSI> surrendered 1.8 percent,but Vietnam <.VNI> bucked the trend to gain for a fifth straight day, rising 2.5 percent.