Breaking News-RTRS-Malaysia's Maxis hires banks for $2 bln IPO-sources

SINGAPORE/KUALA LUMPUR, Aug 5 (Reuters) - Maxis Communications, Malaysia's top mobile operator, has chosen Goldman Sachs , Credit Suisse and CIMB to advise the firm on a planned $2 billion listing in Kuala Lumpur, two sources told Reuters on Wednesday.
The listing is likely to happen by the end of this year and the company may raise more than $2 billion in its public offering, one of the sources told Reuters.

Breaking News-RTRS-Malaysia's top palm oil state sees lower July output

KUALA LUMPUR, Aug 5 (Reuters) - Malaysia's top palm oil producing state of Sabah will see output in July falling up to 15 percent to 352,712 tonnes from a month ago as biological tree stress shows little sign of easing, plantation owners said on Wednesday.
Located on the eastern side of Borneo island, Sabah accounts for nearly a third of Malaysia's total palm oil output and a shortfall will drag palm stocks in the world's No. 2 supplier of the vegetable oil way below 1.41 million tonnes notched in June, traders said.

Breaking News-RTRS-Oil World sees lower Malaysian 2009 palm oil output

HAMBURG, Aug 4 (Reuters) - Malaysian palm oil output is likely to fall 100,000 tonnes to 17.6 million in 2009, from 17.7 million tonnes in 2008, after years of steady growth, Hamburg-based oilseeds analysts Oil World forecast on Tuesday.
This was 200,000 tonnes below Oil World's previous estimate in early July and follows dry weather in the world's leading palm oil exporting country, Oil World said.

Breaking News-RTRS-India to hold off vegoil import taxes till Nov-Mistry

15:17 04Aug09 -INDIA MAY HOLD OFF VEGOIL IMPORT TAXES UNTIL NOV 2009 DUE TO DEVELOPING DROUGHT - ANALYST MISTRY

15:17 04Aug09 -MALAYSIAN PALM OIL PRICES TO TRADE BETWEEN 2,100-2,300 RGT/T FOR NEXT FEW WEEKS ON FESTIVAL DEMAND - MISTRY

15:17 04Aug09 -HIGHER PALM OIL STOCKS IN SEPTEMBER MAY SEE PALM OIL PRICES TEST 2,000 RGT - MISTRY

Breaking News-RTRS-China soybean import prices rise above stock sale min

BEIJING/SINGAPORE, Aug 4 (Reuters) - A global soybean price rally has lifted Chinese import costs above the minimim price set for selling off some of the government's record stockpiles, although expectations for Wednesday's auction remain low. Imported soybeans are quoted around 4,000 yuan ($585.6) per tonne at Tianjin and Dalian ports, following around 14 percent surge in benchmark Chicago Board of Trade futures.

Trader's Highlight

DJI-NEW YORK, Aug 4 (Reuters) - U.S. stocks edged higher on Tuesday, led by the financial sector as economic data pointed to a sustained if slow recovery from the recession, taking the Dow and the S&P 500 to nine-month highs. The Nasdaq achieved its highest close since early
October.

On Tuesday, the Dow Jones industrial average <.DJI> gained 33.63 points, or 0.36 percent, to close at 9,320.19. The Standard & Poor's 500 Index <.SPX> rose 3.02 points, or 0.30 percent, to 1,005.65. The Nasdaq Composite Index <.IXIC> edged up 2.70 points, or 0.13 percent, to end at 2,011.31.

NYMEX-NEW YORK, Aug 4 (Reuters) - U.S. crude futures rose in post-settlement trading on Tuesday, after industry data showed a surprise drawdown in crude oil inventories last week against the forecast for a stock build.

The API said that crude stocks fell 1.5 million barrels to 350.9 million barrels as imports dropped sharply.

On the New York Mercantile Exchange at the close of electronic trading at 5:15 p.m. EDT (2105 GMT), September crude was up 23 cents, or 0.32 percent, at $71.81 a barrel, with the day's high extended to $71.95. It earlier settled down 16 cents, or 0.22 percent, at $71.42 after trading from $70.16 to $71.91.

CBOT-SOYBEANS - August down 8-1/2 cents at $11.65 a bushel; new-crop November up 1 at $10.31-1/2.

Turned mixed as old-crop/new-crop spreads adjust after recent gains in Aug/Nov. New-crop Nov supported by weather jitters as Midwest to turn hot this week and talk that USDA may cut its 2009 U.S. soy crop estimate in Aug. 12 crop report.

CBOT-SOYOIL - August down 0.09 cent at 37.45 cents.

Profit-taking adjustment after Monday's gains when market closed near up the 2-1/2 cent limit amid a weak dollar and $2 a barrel rise in crude oil.

FCPO-KUALA LUMPUR, Aug 4 (Reuters) - Malaysian palm oil futures edged up on Tuesday, but ended off new five-week highs notched earlier in the session, as a pull back in crude oil markets erased some gains in vegetable oil prices.

The benchmark October contract on Bursa Malaysia's Derivatives Exchange hit a session high of 2,345 ringgit ($672.1), a level unseen since June 26, but settled at 2,304 ringgit when crude oil fell.

REGIONAL EQUITIES-BANGKOK, Aug 4 (Reuters) - Indonesian shares hit a 13-month
high on Tuesday, pushed up by gains in coal mining and banking shares, but profit-taking wiped out early gains in Singapore and Thailand and both ended lower.

Singapore's index <.FTSTI> ended down 1.2 percent, led by a 2.1 percent fall in developer CapitaLand . DBS Group and Singapore TelecommunicationS each lost about 1.7 percent.

Malaysia's index <.KLSE> climbed 0.7 percent as investors bought palm plantation firms, pushing Sime Darby and IOI Corp almost 2 percent higher.

AirAsia fell 5.8 percent because of future earnings dilution when it issues new shares. Southeast Asia's largest budget carrier said it had seen strong demand for the share issue, worth $172 million, which it will use to reduce its debt.

FKLI Daily: Holding ground

Market is holding ground as prices move in tight rangy mode. Nevertheless, overall technical outlook remains in bullish atmosphere. We maintain our upside target at 1200 level. While to the downside, support is pegged at 1165-1160 followed by 1155-1150.

FCPO Daily: May due for correction

Profit taking activities were evident after prices failed to break through the tough resistance at 2350 level. Thus, market may due for healthy correction after the recent rebound. Currently, we maintain the upside resistance at 2350. To the downside, support is pegged at 2250-2220 followed by 2175-2155 (gap left over on 31/7/2009).