DJI Weekly: remains in cautious mode

Overall technical landscape remains cautious as prices were hanging above 8000 mark closely. Failure to hold at 8000 mark again may see bear taking place more aggressively. Resistance is now looking at 8300-8360. Downside support is pegged at 7900-7880 level.

KLSE Weekly: Losing strength

Market looks losing strength as prices failed to hold. Currently, we look for the upside resistance at 900. Downside support is pegged at 835.

FKLI Weekly: Market momentum weaken further

Market momentum weakened further following another black candle printed. As for now, we are looking for the resistance at 900. Downside support is pegged at 831.

FCPO Weekly: moving Sideways

Market was in sideways move after the recent rebound yet 1800 mark was tried to defend. We are now looking for the upside resistance at 1897-1902. While, downside support is pegged at 1738-1723.

RTRS-Malaysia to hike palm tax threshold -paper

KUALA LUMPUR, Jan 23 (Reuters) - Malaysia is expected to raise the windfall tax threshold for crude palm oil next month as planters face high production costs, the Edge Financial Daily reported on Friday, quoting an unidentified source.
The paper said the threshold could be raised to around 2,600-2,800 ringgit ($718-$774) per tonne from 2,000 ringgit now, with a finance ministry decision expected by February.
"The authorities are coming up with a compromise between the planters and the government for the long term," the source was quoted as saying.

Breaking News-RTRS-UPDATE 1-Argentina declares agricultural drought emergency

BUENOS AIRES, Jan 26 (Reuters) - Argentina's President Cristina Fernandez on Monday declared an agricultural emergency in areas affected by the worst drought to hit the country in four decades.
The state of emergency will allow farmers in affected areas to defer some tax payments for one year, Fernandez said.
The exchange on Friday cut its estimate for Argentina's 2008/09 soy plantings to 17.9 million hectares (44.2 million acres) from 18.2 million hectares (45.0 million acres) previously, citing the drought.

Breaking News-RTRS-Oil World cuts S.American 2009 soy crop forecasts

HAMBURG, Jan 27 (Reuters) - Forecasts for 2009 soybean crops in key exporters Argentina and Brazil were sharply cut because of drought, Hamburg-based oilseeds analysts Oil World said on Tuesday.
It now estimates Argentina will harvest 44.0 million tonnes of soybeans in early 2009, down from its previous estimate of 48.8 million and down from the 2008 harvest of 46.7 million.
It has cut its forecast of Brazil's 2009 crop to 57.50 million tonnes from its previous estimate of 59 million and down from 60.02 million tonnes harvested by Brazil in 2008.

Breaking News-RTRS -UPDATE 1-Indonesia keeps Feb palm oil export tax at zero

JAKARTA, Jan 27 (Reuters) - Indonesia is maintaining its zero percent palm oil export tax in February, while raising the crude palm oil base export prices to $482 a tonne from $418 a tonne in January, a trade ministry official said on Tuesday.

Trader's Highlight

DJI-NEW YORK, Jan 27 (Reuters) - Better-than-expected corporate results lifted U.S. stocks on Tuesday, but oil prices plunged 9 percent as news of a fall in U.S. consumer confidence to a record low and tumbling home prices stirred concerns about demand.

Wall Street rallied for a third session in a row on hopes that despite the drumbeat of negative news, government efforts to stabilize the flagging U.S. economy will start to work.

The Dow Jones industrial average <.DJI> rose 58.70 points, or 0.72 percent, at 8,174.73. The Standard & Poor's 500 Index <.SPX> gained 9.14 points, or 1.09 percent, at 845.71. The Nasdaq Composite Index <.IXIC> added 15.44 points, or 1.04 percent, at 1,504.90.

NYMEX-NEW YORK, Jan 27 (Reuters) - U.S. crude futures remained sharply lower in post-settlement trading on Tuesday after data from the industry group American Petroleum Institute showed a small increase in domestic crude and gasoline supplies.

On the New York Mercantile Exchange, March crude at 5:15 p.m. EST (2215 GMT), last traded down $3.75, or 8.2 percent, at $41.98 a barrel. Earlier, it settled down $4.15, or 9.08 percent, at $41.58, trading from $41.41 to $47.49. The day's percentage loss was the steepest since prices dropped 12.25 percent on Jan. 7.

CBOT-SOYBEANS - March down 33 cents to $9.76 a bushel. Forecast for rain in drought-stricken Argentina, lower crude oil and firm dollar weigh on soybeans.

CBOT-SOYOIL - March down 1.00 cent to 32.77 cents a pound. Weak crude oil and lower soybeans weigh on soyoil.

FCPO-JAKARTA, Jan 23 (Reuters) - Malaysian crude palm oil futures fell 2.1 percent on Friday as traders took profit from a recent rally ahead of the Chinese New Year holiday, traders said.

The benchmark April contract on the Bursa Malaysia Derivatives Exchange closed 40 ringgit lower, or 2.1 percent, at 1,830 ringgit a tonne ($505).

Other traded contracts fell between 35 ringgit and 45 ringgit. Overall volume was at 10,048 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Jan 27 (Reuters)-Thai shares closed at their highest in two weeks on Tuesday, lifted by gains in oil and shipping stocks, while Indonesian shares rallied to a one-week high on buying into big caps such as Bumi Resources.

Overall, regional markets tracked gains in the United States, although many major bourses remained closed for the Lunar New Year holiday.

Singapore <.FTSTI> and Malaysia <.KLSE> will resume trading on Wednesday, and Vietnam <.VNI> on Friday.

Trader's Comment: FCPO market gave up some of its gains to end lower.

FCPO market gave up some of its gains to end lower. Benchmark Apr 09 initially opened lower at 1840 as tracking losses in overnight CBOT soyoil prices. Trades were thin and move in tight range between 1840 to 1879 in most of the session. However, some intra-day liquidation activities comes in late session and saw prices dropped to the day low at 1825 before settling RM 40 lower at 1830. Total daily volume stood at 10,048 contracts changed hands.