Wednesday, April 1, 2009

Trader's Highlight

DJI - NEW YORK, March 31 - U.S. stocks climbed on Tuesday, driving the S&P 500 to its best month since October 2002, as investors snapped up top-performing bank and
technology shares as the first quarter came to an end.

The Dow Jones industrial average gained 86.90 points, or 1.16 percent, to 7,608.92. The Standard & Poor's 500 Index added 10.34 points, or 1.31 percent, to 797.87. The Nasdaq Composite Index climbed 26.79 points, or 1.78 percent, to 1,528.59.

NYMEX - NEW YORK, March 31 - U.S. crude oil futures pared gains in post-settlement trading on Tuesday after the American
Petroleum Institute's inventory report showed a larger-than-expected build in domestic crude stocks.

On the New York Mercantile Exchange, at 4:50 p.m. EDT (2050 GMT), May crude was up 48 cents at $48.89 a barrel. It had settled up $1.25, or 2.58 percent, at $49.66, after trading $47.77 to $50.00

CBOT - SOYBEANS
- May up 47-1/2 at $9.52; new-crop November up 50 at $8.92.
Rallies on USDA's smaller-than-expected U.S. soy plantings forecast of 76.024 million acres, versus average trade estimate for 79.622 million. If realized, forecast would be a record, surpassing the 75.718 million seeded in 2008.

CBOT - SOYOIL - May up 1.58 cents at 33.62 cents per lb. Led higher by soy and weak dollar.

FCPO
- KUALA LUMPUR, March 31 - Malaysian palm oil futures climbed 1.5 percent on Tuesday as exports were seen recovering, although expectations of higher U.S soy plantings in a report due later in the day could weigh on global vegetable
oil prices.

Prices of palm oil have risen 18 percent in the first quarter of 2009 on higher crude oil prices and lower output, but have failed to remain above the 2,000 ringgit level on lacklustre exports.

The benchmark June contract on the Bursa Malaysia Derivatives Exchange settled up 30 ringgit at 2,000 ringgit ($548.8) per tonne after going as high as 2,002 ringgit.

REGIONAL EQUITIES
- BANGKOK, March 31 - Stocks in Singapore and Indonesia rose more than 1 percent on Tuesday, leading major Southeast Asian markets higher, with DBS and Bank Mandiri among big-caps recovering from the latest dismal U.S. auto sector news.

On Monday President Barack Obama ordered General Motors and Chrysler LLC to accelerate their survival efforts and brace for possible bankruptcy, saying neither had done enough to justify the taxpayer money they were seeking.

But Singapore's benchmark index ended up 1.6 percent on Tuesday, recouping some of its 4.2 percent loss on Monday. DBS Group Holdings, Southeast Asia's biggest bank, which fell 4 percent on Monday, climbed nearly 3 percent.

In Kuala Lumpur, the index rose 0.4 percent, with banks outperforming the broader market. Top lender Maybank surged 5.4 percent and Public Bank gained 1.3
percent. State-run oil firm Petronas jumped 5 percent.