FCPO Daily: sideways market

We continue to look for the immediate resistance at 2357-2367 followed by 2400-2414. For downside, immediate support is at 2250-2240 followed by 2200.

Trader's Comment: CPO futures ended with easier tone after range bound trading

CPO futures ended with easier tone after a range bound trading session. Lower than expected export data released by private cargo surveyors sent prices to trade in negative territory during the morning session. Steady crude oil prices saw speculative buying pushes prices to hit intra-day high at 2351 in the afternoon session. However, it loose steam after lack of follow through buying and crude oil prices also easing off. This sparks some intra-day long liquidation and sent benchmark Dec08 price slides to settle RM38 lower at 2280. Total daily volumes improved to 19,370 contracts transacted.

FKLI Daily: stuck in range

Market is directionless stuck in sideways move. We continue to look for the immediate resistance at 1036-1039 and downside support is at 1005-1000.

KLSE Daily: nothing much changes

Market remained in range bound mode and stayed below the downtrend zone. Consolidation phase likely to continue. Resistance and support remained at 1039-1040 and 998-1001 level respectively.

Breaking News-RTRS-US house, Senate to meet at 1000 EDT/1400 GMT Thursday to draft final Wall Street bailout bill-Democratic source

Trader's Highlight

DJI-NEW YORK, Sept 24 (Reuters) - The Dow and S&P 500 edged lower on Wednesday as uncertainty about when Congress might approve a proposed $700 billion financial sector bailout offset Warren Buffett's $5 billion bet on Goldman Sachs.

Federal Reserve Chairman Ben Bernanke urged Congress' Joint Economic Committee to pass the bailout, saying delay would keep lenders from extending credit to households and businesses, but lawmakers voiced doubt about the size and scope of the plan.

The Dow Jones industrial average <.DJI> was down 29.00 points, or 0.27 percent, at 10,825.17. The Standard & Poor's 500 Index <.SPX> was down 2.35 points, or 0.20 percent, at 1,185.87. The Nasdaq Composite Index <.IXIC> was up 2.35 points, or 0.11 percent, at 2,155.68.

NYMEX-NEW YORK, Sept 24 (Reuters) - U.S. crude oil futures settled lower on Wednesday, after seesawing when government data showed demand slumped, refinery capacity usage sank to a record low, and crude supplies fell less than expected.

On the New York Mercantile Exchange, November crude fell 88 cents, or 0.83 percent, to settle at $105.73 a barrel, trading from $104.80 to $109.50.

CBOT-SOYBEANS - November unchanged at $11.87 a bushel.Choppy, uncertain trade amid financial turmoil. Turned lower when crude oil began easing from day's highs.
Trade awaits U.S. Census August crush data on Thursday.

SOYOIL - October down 0.04 cent at 47.70 cents per lb.Turned weak when crude oil began moving lower. Meal/oil spreading also weighed.

FCPO-KUALA LUMPUR, Sept 24 (Reuters) - Malaysian crude palm oil futures rose 0.6 percent on Wednesday as oil headed above $108 a barrel, lending support to some global vegetable oil markets but lingering anxieties of cooling demand cut into gains.

The most-active December contract on the Bursa Malaysia Derivatives Exchange settled up 13 ringgit at 2,318 ringgit ($678) a tonne after going as high as 2,357 ringgit.

REGIONAL EQUITY-SINGAPORE, Sept 24 (Reuters) - Southeast Asian stock markets mostly edged up on Wednesday after Warren Buffett's investment in Goldman Sachs helped financials such as Singapore Exchange and Siam Commercial Bank . Singapore's benchmark index <.FTSTI> ended 0.04 percent up while Malaysia <.KLSE> was also little changed at 0.22 percent up. Indonesia <.JKSE> gained 0.56 percent, the Philippine index <.PSI> rose 0.97 percent and Thailand <.SETI> rose 2 percent.

DJI Daily: violated the immediate support at 10827

Immediate support at 10827 was violated. We currently is looking for the immediate upside resistance at 11143-11125. While, immediate downside support is pegged at 10742-10595.