Trader's Highlight

DJI-NEW YORK, Aug 17 (Reuters) - Oil slid and global stocks fell sharply on Monday after weak Japanese data and last week's poor U.S. consumer confidence data sparked doubts about a U.S. recovery and prompted investors to cut their exposure to risk.

Asian, European and U.S. stock markets fell to lows last seen in July as equities tumbled 2.0 percent or more around the world, and Wall Street suffered its worst loss in 7 weeks.

The Dow, S&P 500 and Nasdaq stock gauges posted their biggest single-day percentage declines since at least July 2.

The Dow Jones industrial average <.DJI> dropped 186.06 points, or 2 percent, to end at 9,135.34. The Standard & Poor's 500 Index <.SPX> was down 24.36 points, or 2.43 percent, at 979.73. The Nasdaq Composite Index <.IXIC> was down 54.68 points, or 2.75 percent, at 1,930.84.

NYMEX-NEW YORK, Aug 17 (Reuters) - U.S. crude oil futures ended at their lowest level in more than two weeks on Monday as Wall Street tumbled amid worries about global economic recovery.

On the New York Mercantile Exchange, September crude settled down 76 cents, or 1.13 percent, at $66.75, the lowest settlement since July 29's $63.35. It traded from $65.23 to $67.69. The intraday low was lowest since prices fell to $64.96 on July 31.

CBOT-SOYBEANS - September down 36-1/2 cents at $9.88 a bushel; new-crop November down 27 at $9.54-1/2.

Excellent crop weather in the U.S. soy regions, firm dollar, falling equities and crude oil combine to weigh on soy futures. Market technically weak, with November slipping below key support of $9.80 during overnight session after Friday's big sell-off.

CBOT-SOYOIL - September down 1.31 cents per lb at 35.87 cents per lb. Pressured by falling soybeans, crude oil and Asian vegoils.

FCPO-KUALA LUMPUR, Aug 17 (Reuters) - Asian vegetable oil markets slumped on Monday on expectations of better global supplies this fall with U.S. soy set for a record large harvest and a sharp decline in crude oil prices.

Benchmark November palm oil futures on the Bursa Malaysia Derivatives Exchange fell as much as 4.5 percent to a 10-day low, despite market talk of tight inventories, thanks to faltering production and stronger Asian festival demand.

REGIONAL EQUITIES-BANGKOK, Aug 17 (Reuters) - Shares in Singapore and Thailand
tumbled more than 3 percent on Monday, leading other Southeast Asian bourses lower, with index heavyweights such as DBS Group, Singapore Telecoms, PTT and PTT Exploration among big losers.

Singapore's index <.FTSTI> fell 3.3 percent to its lowest since Aug. 7, with top lender DBS down 2.5 percent, Singapore Telecommunications losing 3.1 percent and developer CapitaLand off 3.8 percent.

Malaysia <.KLSE> fell 1.6 percent to its lowest since Aug. 3, the Philippine index <.PSI> dropped 2.8 percent to its lowest since July 30 and Vietnam's <.VNI> fell 1.4 percent, ending a five-day gain.

Trader's Comment: Palm oil futures tumbled heavily and ended with triple digit losses on global market slump.

Palm oil futures tumbled heavily and ended with triple digit losses on global market slump. Benchmark Nov09 immediately gap down RM70 to open at 2371, following overnight NYMEX crude oil fell sharply by $3. Initially, it was struggling to cover some left over gap but the buying power was not strong enough as it only managed to hit intra day high of 2397 before morning close at 2391. As the global market continued to weaken further, this led palm oil prices to follow suit. Dalian palm ended with 300 pt losses while eCBOT soy oil dropped more than 100 bid lower. Asian time NYMEX crude oil also extended its overnight losses to fall below $66. Benchmark Nov09 continued to dive lower in the second session and hit intra day low of 2325 before ended RM106 lower at 2335.

FKLI Daily: Losing upward momentum

Market shows the end of its sideways move following prices break down with double digit losses. Market has losing its upward momentum and may enter into correction phase to move sideways to bias downside potential. We may see more room to downside if support at 1158-1150 violated. Next support will be looking at 1130-1125. To the upside, resistance is remains at 1189.5.

CBOT Soyoil Daily: Sideways to bias downside potential

Market ended sharply lower for three consecutive trading days had weakened further the overall technical landscape. Thus, market may sideways to bias downside potential in near term. currently, we are looking for the downside support at 35.30. While, upside resistance is at 37.40-37.70.

NYMEX Crude Daily: Defended at USD 65

Market defended after found some support around USD 65 with printed a long lower shadow candle. Nevertheless, immediate technical outlook remains weak. As for now, we are looking for the immediate support at USD65-64.96 followed by 62.76. To the upside, resistance is at 71.60-72.50.

FCPO Daily: Searching for support

Market steep down after the recent strong rebound with triple digit losses. Downside gap at 2354-2345 (left over since 10/8/2009) was fully covered. Market looks still searching for support for a good landing. Thus, correction mode likely to continue and look for the immediate support at 2305-2275 followed by 2250. While, upside resistance is pegged at 2397-2424 (gap left over on 17/8/2009)