Friday, September 5, 2008
FCPO Hourly: remains consolidate
Market continue its consolidation phase with immediate upside resistance at 2550-2560 followed by 2600-2615. For downside, immediate support is pegged at 2390-2395 followed by 2351.
FKLI resume downtrend
KLSE Hourly: losing ground
Breaking News-RTRS-Interview-China soyberan imports seen short of forecast
SIEM REAP, Cambodia, Sept 4 (Reuters) - Soybean purchases next year by China, the biggest importer of the commodity, could fall as much as six percent short of an estimated 36 million tonnes, hit by a bumper domestic crop and slowing demand, a leading industry analyst said.
John Baize, a U.S.-based farm analyst who specialises in oilseeds, said China's soybean output next year was expected to be 17 to 18 million tonnes, above a U.S. Department of Agriculture (USDA) estimate of 16 million-16.5 million tonnes.
John Baize, a U.S.-based farm analyst who specialises in oilseeds, said China's soybean output next year was expected to be 17 to 18 million tonnes, above a U.S. Department of Agriculture (USDA) estimate of 16 million-16.5 million tonnes.
Trader's Highlight
DJI-NEW YORK, Sept 4 (Reuters) -Wall Street had its steepest decline in more than two months on Thursday, as more signs of weakness in the labor market and increasingly sluggish growth overseas fueled fears about the ability of the U.S. economy to stage a recovery.
The Dow Jones industrial average <.DJI> fell 344.65 points, or 2.99 percent, to 11,188.23, while the Standard & Poor's 500 Index <.SPX> dropped 38.15 points, or 2.99 percent, to 1,236.83. The Nasdaq Composite Index <.IXIC> tumbled 74.69 points, or 3.20 percent, to 2,259.04.
NYMEX-NEW YORK, Sept 4 (Reuters) - U.S. crude oil futures ended more than $1 lower on Thursday, despite U.S. government data showing a surprise drawdown in crude stocks and even with gasoline supplies dropping for the sixth week in a row.
On the New York Mercantile Exchange, October crude settled down $1.46, or 1.34 percent, at $107.89 a barrel,trading from $106.52 to $110.60.
CBOT-SOYBEANS - September down 17 cents at $12.34 per bushel,November down 16-1/2 at $12.35.Lower in volatile trade. Pressured by dollar's rally, weak crude and beneficial rains in U.S. Midwest crop area.
SOYOIL - September down 0.95 at 49.53 cents per lb.Falling crude oil prices weigh.U.S. July soyoil stocks at 2.780 billion lbs, compared with preliminary figure of 2.784 billion and 2.893 billion in June - U.S. Census Bureau.
FCPO-JAKARTA, Sept 4 (Reuters) - Malaysian crude plam oil rose more than 2 percent on Thursday, bouncing back from a two-day fall, as crude oil recovered and as traders bet on improving overseas demand.
The benchmark November crude palm oil contract on the Bursa Malaysia Derivatives Excange ended up 59 ringgit, or 2.41 percent, to 2,510 ringgit ($733) a tonne.
REGIONAL EQUITY-SINGAPORE, Sept 4 (Reuters) - Asian shares also slid to new two-year lows on economic worries, but markets in Thailand and Vietnam edged higher.
Singapore dropped 3 percent -- its steepest one-day drop since March, while Indonesia lost 1.9 percent.Thailand rose 0.8 percent, while Vietnam added 0.6 percent. The Philippine index edged up 0.2 percent, while Malaysia ended steady.
The Dow Jones industrial average <.DJI> fell 344.65 points, or 2.99 percent, to 11,188.23, while the Standard & Poor's 500 Index <.SPX> dropped 38.15 points, or 2.99 percent, to 1,236.83. The Nasdaq Composite Index <.IXIC> tumbled 74.69 points, or 3.20 percent, to 2,259.04.
NYMEX-NEW YORK, Sept 4 (Reuters) - U.S. crude oil futures ended more than $1 lower on Thursday, despite U.S. government data showing a surprise drawdown in crude stocks and even with gasoline supplies dropping for the sixth week in a row.
On the New York Mercantile Exchange, October crude settled down $1.46, or 1.34 percent, at $107.89 a barrel,trading from $106.52 to $110.60.
CBOT-SOYBEANS - September
SOYOIL - September
FCPO-JAKARTA, Sept 4 (Reuters) - Malaysian crude plam oil rose more than 2 percent on Thursday, bouncing back from a two-day fall, as crude oil recovered and as traders bet on improving overseas demand.
The benchmark November crude palm oil contract on the Bursa Malaysia Derivatives Excange
REGIONAL EQUITY-SINGAPORE, Sept 4 (Reuters) - Asian shares also slid to new two-year lows on economic worries, but markets in Thailand and Vietnam edged higher.
Singapore dropped 3 percent -- its steepest one-day drop since March, while Indonesia lost 1.9 percent.Thailand rose 0.8 percent, while Vietnam added 0.6 percent. The Philippine index edged up 0.2 percent, while Malaysia ended steady.
DJI hammered with triple digit losses
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