Breaking News-RTRS-Malaysian Government Allocates RM50mln For RSPO Fund

KUALA LUMPUR, Aug 29 (Bernama) -- The government will allocate RM50 million to provide a Roundtable Sustainable Palm Oil (RSPO) Fund to support community programmes and conservation programmes.

Breaking News - RTRS - China Buys 4-6 Cargoes Soybeans This Week -Analyst

BEIJING (Dow Jones)--Chinese importers booked four to six cargoes of soybeans this week, commodity consultancy firm Shanghai JCI said Friday.These soybeans were bought from Argentina, the U.S. and Brazil, said Tu Xuan, an analyst at the firm.

Trader's Highlight

DJI - NEW YORK, Aug 28 (Reuters) - U.S. stocks rose sharply on Thursday as the government reported the economy grew at a surprisingly robust clip in the second quarter and oil prices eased, driving gains in major industrial and financial companies.

The Dow industrials rose nearly 2 percent after the government said strong export growth and consumer spending helped gross domestic product expand at a 3.3 percent annual rate between April and June, above an initial estimate of 1.9 percent.
The Dow Jones industrial average <.DJI> ended up 212.67 points, or 1.85 percent, at 11,715.18. The Standard & Poor's 500 Index <.SPX> closed up 19.02 points, or 1.48 percent, at 1,300.68. The Nasdaq Composite Index <.IXIC> ended up 29.18 points, or 1.22 percent, at 2,411.64.

NYMEX - NEW YORK, Aug 28 (Reuters) - U.S. crude oil futures ended lower for the first time in four sessions on Thursday, hammered by pledges from the International Energy Agency and the U.S. government that they were prepared to release strategic crude stockpiles if storm Gustav hits the Gulf of Mexico.U.S. government data showing a record build in natural gas storage last week further stoked bearish sentiment.

October crude settled down $2.56, or 2.17 percent, at $115.59 a barrel, trading from $114.08 to $120.50. The contract fell after gaining $3.56 in the three previous sessions.

CBOT SOYBEANS - September down 15-1/2 cents at $13.32-1/2 per bushel, November down 24 at $13.24. Pressured by rainfall in past day in Iowa and Minnesota, along with forecasts for more rains this week in key U.S. crop areas. Retreat in crude oil adds pressure along with firming dollar. September underpinned by firm cash, positioning before first notice day for September deliveries.

SOYOIL - September down 0.88 cent at 53.34 cents per lb.

FCPO - JAKARTA, Aug 27 (Reuters) - Malaysian crude palm oil futures rose 3.8 percent on Wednesday, recovering some of this week's losses due to improved demand and rebounding crude oil prices, dealers said.

The benchmark November crude oil contract settled up 93 ringgit, or 3.86 percent, at 2,502 ringgit ($739) per tonne on the day. It hit a session high of 2,523 ringgit per tonne, rebounding from a one-week low of 2,406 ringgit marked on Tuesday.

REGIONAL EQUITIES - SINGAPORE, Aug 28 (Reuters) - Thai equities led gains in Southeast Asian stock markets on Thursday, hitting their highest level in a week as stronger crude prices lifted energy shares, but Singapore fell to a fresh 21-month low as investors dumped property stocks.

Singapore fell half a percent, breaking the pyschological 2,700 level for the first time this year, while

Vietnam snapped 5 straight days of gains and slid 2.5 percent.

In the near term, investors will either stay on the sidelines or bail out of the region altogether, as political risk heightens in Malaysia and Thailand and inflation and growth fears weigh, analysts said. But an expected global recovery next year should benefit the region.

Thailand <.SETI> rose 1 percent, while Indonesia's benchmark index <.JKSE> was 0.7 percent higher, led by natural resources stocks. Malaysia <.KLSE> and the Philippines <.PSI> both gained 0.3 percent.