Wednesday, August 20, 2008

Trader's Highlight

DJI-NEW YORK, Aug 19 (Reuters) - U.S. stocks fell for a second straight session on Tuesday as credit worries hit bank shares and a report showing inflation remains a threat despite slower growth stoked the market's anxiety.The Dow Jones industrial average <.DJI> fell 130.84 points, or 1.14 percent, to 11,348.55. The Standard & Poor's 500 Index <.SPX> slid 11.91 points, or 0.93 percent, to 1,266.69. The Nasdaq Composite Index <.IXIC> lost 32.62 points, or 1.35 percent, to 2,384.36.

NYMEX-NEW YORK, Aug 19 (Reuters) - U.S. crude oil futures endedhigher on Tuesday, snapping a three-day losing streak, as the dollar fell back, prompting investors to buy into commodities.On the New York Mercantile Exchange, September crude settled up $1.66, or 1.47 percent, at $114.53, after trading from $111.64 to $116.65. Liquidations ahead of the contract's expiration on Wednesday pared the day's gains.

CBOT-SOYBEANS - September down 12 cents at $12.67 per bushel, November down 13 at $12.76.Profit-taking after Monday's rally pressured soy lower. Very volatile day, with September moving in an 81-1/4 cents per bushel range.

Some support from news that Argentine farmers resume protests over government policy.

SOYOIL - September down 0.14 at 52.38 cents per lb.Followed soybeans lower.

Bangladesh may halt edible oil purchases - official.

FCPO-KUALA LUMPUR (Dow Jones)--Crude palm oil futures on Malaysia's derivatives exchange ended 1.9% lower Tuesday on selling pressure amid worries over defaults in the cash market, but off lows as the export outlook remains strong, said trade participants.

The benchmark November contract on Bursa Malaysia Derivatives ended MYR49 lower, at MYR2,436 a metric ton, after declining as much as 5.4% to an intraday low of MYR2,351.

REGIONAL EQUITIES-SINGAPORE, Aug 19 (Reuters) - Most Southeast Asian markets slid on Tuesday as fresh fears that the worst is not over for credit markets weighed on financials and property stocks.

Asian stocks fell to a two-year low on fears the U.S. government will have to bail out top mortgage finance companies Fannie Mae and Freddie Mac, further destabilising the financial sector

Singapore <.FTSTI> and Malaysia <.KLSE> fell 1.8 and 1.4 percent to hit 20-month lows, while Indonesia <.JKSE> slid 2.1 percent to hit a one-year low.The Philippine index <.PSI> also slipped 1.25 percent, while Thai stocks <.SETI> edged 0.9 percent lower. Vietnam <.VNI>
bucked the trend to rise 0.7 percent to its highest in three months.