Regional equities-July 4 (Reuters) - Malaysian stocks ended at their lowest in 16 months on Friday, with stocks such as Tenaga Nasional and Sime Darby falling in a market damaged by political uncertainty. Malaysia's benchmark index <.KLSE> fell 1.7 percent, losing 4.7 percent this week and is down 21 percent so far this year. The ongoing political mudslinging in the country is creating further uncertainty in a market already plagued by inflation and growth worries.
Other markets edged up but closed weaker for the week as a relentless rise in oil prices to record levels threatens the outlook for corporate earnings globally.
Thailand <.SETI> and the Philippines <.PSI> markets lost about 4 percent this week, while Indonesia <.JKSE> capped the week's losses at 0.7 percent after gaining 1.2 percent on Friday.
Singapore <.FTSTI> edged up 0.4 percent on Friday, but gave up 2.3 percent this week.
The region's bright spot was Vietnam <.VNI>, which added 2.2 percent to boost gains to 12 percent in the last 10 trading days. Vietnam is still the world's worst performing market, down more than 52 percent so far this year.
FCPO-July 4 (Reuters) - Malaysian crude palm oil futures fell on Friday as soybean oil extended losses on China's Dalian exchange, but the prospect of strong demand ahead of Asian festivals supported the market.
The benchmark September contract on the Bursa Malaysia Derivatives Exchange settled down 0.14 percent, or 5 ringgit, to 3,630 ringgit ($1,112) a tonne, after hitting intraday low of 3,614 ringgit.
Soybean oil prices on the Dalian Commodity Exchange fell more than one percent as a large grains trading firm liquidated contracts amid market talk that Beijing might release soybean reserves to stabilise food prices during the August Olympics, dealers said.
India-July 4 (Reuters) - Indian farmers have sown more rice and oilseeds in the summer-planting season that began in June than a year ago, official data showed, raising hopes of bigger harvests and an end to restrictions on rice exports.
Analysts say good monsoon rains and higher international prices of vegetable oils will help boost oilseed output in the world's second-biggest importer of cooking oils. That will help India cut expensive imports of palm oil from Malaysia and Indonesia and soyoil from Brazil and Argentina.
