FCPO Daily: stuck in range 1500-1700

Market is directionless and stuck in the range of 1500 to 1700 level.

FKLI Daily: struggle to survive

Market continue to move inside the triangle. we maintains the resistance at 927-931 level and immediate support at 863.5-862.5 followed by 843-839.

KLSE Daily: range trading

Consolidation phase looks may extended in near term. We continue to look for the upside at 905-913,gap left over since 5th Nov, 2008. Downside support remained at 868-867 followed by 850-848.

Breaking News-RTRS-Malaysia to announce new measures to aid economy

KUALA LUMPUR, Nov 12 (Reuters) - Malaysia's Minister for International Trade Muhyiddin Yassin, one of three men competing to become the country's deputy prime minister, is set out new measures to boost investment to help offset slower growth.
"He is going to announce the details on Friday, especially on incentives, how to attract more investment, how to tackle the global economic situation and how to cushion the impact (of the worldwide financial crisis)," Muhyiddin's spokesman said on Wednesday.

Trader's Comment: Malaysia palm oil futures fell as crude oil weaken amid worry of slowing global demand.

Malaysia palm oil futures fell as crude oil weaken amid worry of slowing global demand. Benchmark Jan09 open RM39 lower at 1587, tracking NYMEX crude oil that fell again to challenge $60 level during Asian time zone. It hit the day low of 1571 and then bounce back and hit the day high of 1610 by mid-day, following the recovering in regional equity market. However, this “bull” was not strong enough during afternoon session. Coupled with the fell of eCBOT and Dalian palm, CPO prices immediately gap down and resumed lower in the 2nd session and remained weak for the rest of the day. The subsequent collapse of regional equity market as the worries of company earnings began to get worse world wide, also spilled over to CPO prices. Statement issued by well-known analyst Dorab Mistry, which stated that CPO futures could slide to RM1200 if crude oil declines to $50 a barrel, had also provided more selling pressure to the already weak sentiment. Benchmark Jan09 slide down to 1574 before it settled at 1586.

Breaking News-RTRS-UPDATE 2-China soy imports in Oct lower, but to pick up

BEIJING, Nov 11 (Reuters) - China, the world's top soybean buyer, saw soybean imports nearly halve in October from the previous month, but shipments should bounce back in November.
Traders attributed the low October imports partly to advanced customs clearance by some buyers to enjoy a lower tariff rate of 1 percent that expired at the end of September.
"Imports remain more attractive than domestic soybeans, we see arrivals back to normal this month with imports at more than 3 million tonnes also for December," said one industry analyst with a government think-tank.

Breaking News-RTRS-More soyoil to go for biodiesel output - Oil World

HAMBURG, Nov 11 (Reuters) - Biodiesel production could account for as much as 25 percent of total soyoil consumption in the U.S., Argentina, Brazil and European Union in 2008/09, oilseeds analyst Oil World forecast on Tuesday.
"This development is limiting soy oil export supplies on the world market already today and has contributed to wide price premiums over palm oil," the Hamburg-based group said.
The four regions in 2007/08 are forecast to have raised soyoil usage for biodiesel by 800,000 tonnes on the year to 3.5-3.6 million tonnes, or 22 percent of their total soy oil consumption, it said.

Breaking News-RTRS-INTERVIEW-Malaysia's palm refinery capacity seen flat on crisis

KUALA LUMPUR, Nov 11 (Reuters) - Palm oil refinery capacity in Malaysia, the No 2. producer of the vegetable oil, is likely to remain flat at 19.2 million tonnes next year as some refiners tread cautiously in a constricted global credit market after years of expansion, a top industry body said on Tuesday.

Breaking News-RTRS-Indonesian 2008 palm oil output up sharply - Oil World

HAMBURG, Nov 11 (Reuters) - Indonesia's palm oil output in 2008 is likely to rise by 2.0 million tonnes from 2007 to 19.33 million, increasing the country's exports and stocks, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.

Breaking News-RTRS-First "sustainable" palm oil on way to Rotterdam

ROTTERDAM, Nov 11 (Reuters) - The first shipment of palm oil which is certified as "sustainable" by the Roundtable on Sustainable Palm Oil (RSPO) is due to reach Rotterdam next week, as critics still question whether the label is justified.
Under fire for its role in rainforest and wildlife destruction, the palm oil industry established the RSPO in 2004 to develop a certification system and this first shipment is a milestone, industry leaders said on Tuesday.

Trader's Highlight

DJI-NEW YORK, Nov 11 (Reuters) - U.S. stocks fell on Tuesday as faltering demand at aluminum maker Alcoa and a dismal outlook from Tyco International showed the global economic slowdown is deepening.

Selling was widespread, with commodity-related shares tumbling as resources ranging from oil to silver were stung by fears that the economic gloom will curb demand and as the U.S. dollar firmed.

The Dow Jones industrial average <.DJI> dropped 176.58 points, or 1.99 percent, to 8,693.96, while the Standard & Poor's 500 Index <.SPX> shed 20.26 points, or 2.20 percent, to 898.95. The Nasdaq Composite Index <.IXIC> slid 35.84 points, or 2.22 percent, to 1,580.90.

NYMEX-NEW YORK, Nov 11 (Reuters) - U.S. crude futures settled on Tuesday below $60 a barrel for the first time since March 2007 as demand concerns deepened amid slumping equities and as the dollar strengthened.

Crude futures fell sharply even after a fresh indication from OPEC of another output cut if prices keep falling and amid signs of slowing demand from China.

On the New York Mercantile Exchange, December crude settled down $3.08, or 4.94 percent, at $59.33, the lowest settlement since $56.73 on March 20, 2007. It traded from $58.32, also the lowest since March 20, 2007, to $62.28. On the day's low, prices have fallen $88.95, or 60.4 percent, from the record $147.27 hit on July 11.

CBOT-SOYBEANS - November contract down 32 cents at $9.08 per bushel; January down 32 cents at $9.16.

Declining stock markets amid concerns about China's economy, falling crude oil and a strong dollar combine weigh on soybean futures.

China saw soybean imports nearly halve in October but shipments should bounce back in November. U.S. traders have been reporting rising export demand from China during the past few weeks.

CBOT-SOYOIL - December contract down 1.65 at 33.73 cents per lb. Pressured by weak crude oil, a strong dollar and declining equities markets.

FCPO-JAKARTA, Nov 11 (Reuters) - Malaysian palm oil futures fell more than 2 percent on Tuesday on weaker crude oil and concern over a build up in supply as demand fades, traders said.

The benchmark January contract on the Bursa Malaysia Derivatives Exchange settled down 40 ringgit, or 2.52 percent to 1,586 Malaysian ringgit ($443) per tonne on the day after trading as low as 1,571 ringgit.

REGIONAL EQUITIES-BANGKOK, Nov 11 (Reuters) - Southeast Asian stocks fell on Tuesday, hit by growing fears of a global economic slowdown, with financials and other blue chips such as Singapore's SingTel, Thailand's AIS and Malaysia's IOI Corp posting big declines.

Singapore's Straits Times index <.FTSTI> tumbled 4.1 percent.Thai stocks <.SETI> dropped 3.1 percent, led by a 6.6 percent fall in Advanced Info Service , Malaysia's index <.KLSE> shed 1.07 percent, Indonesia's <.JKSE> lost 0.3 percent and
Vietnam's index <.VNI> fell 3.9 percent to end at a one-week low.

DJI Daily: remains in consolidation mode

Market remains in sideways move within the triangle formation. Resistance and support remained at 9794-9653 and 8143-7882 level respectively.