Announcement: Please be informed that BMDB will be closed on Monday, 1st Feb 2010 (Monday) in conjuction with Federal Territory Day

Breaking News-RTRS-Malaysia may delay palm-biofuel mandate -report

KUALA LUMPUR, Jan 29 (Reuters) - Malaysia, the world's No. 2 palm oil producer, may delay a mandate for blending palm oil-based biofuel with petroleum diesel to next year due to cost concerns, the Star newspaper reported on Friday.
The government has not implemented the biofuel mandate as it struggles to find a willing party to absorb the extra costs arising from the palm oil biofuel blend, the newspaper cited Commodities Minister Bernard Dompok as saying.

Breaking News-RTRS-UPDATE 1-Argentine soy crop on track for record 51 mln T

BUENOS AIRES, Jan 28 (Reuters) - Argentina's 2009/10 soy output is set to rise almost 60 percent from last year's drought-hit harvest to a record 51 million tonnes, Buenos Aires Grains Exchange said Thursday.

Brreaking News-RTRS-China swaps two U.S. soy cargoes, one cargo held

BEIJING, Jan 28 (Reuters) - Chinese buyers who earlier booked U.S. soy cargoes have swapped them for South American ones while the Chinese quarantine authority is holding one U.S. soy cargo at Ningbo port due to quality concerns, traders said on Thursday.

Trader's Highlight

DJI-NEW YORK, Jan 28 (Reuters) - U.S. stocks dropped on Thursday as poor outlooks from Motorola and Qualcomm dented optimism in the technology sector while worries about Greece's fiscal health dragged on sentiment.

Qualcomm Inc shares tumbled 14.2 percent to $40.48 and Motorola Inc slid 12.4 percent to $6.48 after both companies' earnings and outlooks fell short of expectations.

NYMEX-NEW YORK, Jan 28 (Reuters) - U.S. crude futures ended lower for the third consecutive session on Thursday, pressured by sliding equities and persistent demand worries. U.S. stocks fell on lean profit growth outlooks for two bellwether technology shares and jitters over a global economic recovery.

On the New York Mercantile Exchange, March crude settled down 3 cents, or 0.04 percent, at $73.64 a barrel, trading from $72.93 to $74.49.

CBOT-CHICAGO, Jan 28 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.

CBOT-SOYBEANS - March up 2-3/4 cents at $9.31-3/4 bushel. Ends firm on short-covering bounce after the fall on Wednesday to a 3-1/2 month low.

CBOT-SOYOIL - March down 0.17 cent at 36.15 cents per lb. Pressured by weak tone in crude oil.

FCPO-JAKARTA, Jan 28 (Reuters) - Malaysian crude palm oil futures rose 0.9 percent on Thursday along with other markets after U.S. President Barack Obama's promises to boost U.S. jobs and the economy.
However, the combination of ample global vegetable oils supplies and slowing demand may keep a lid on prices and prevent further gains, they said.

REGIONAL EQUITIES-BANGKOK, Jan 28 (Reuters) - Stock markets in Singapore and Indonesia gained about 2 percent on Thursday as positive news from the United States lifted the mood and investors turned their attention to quarterly results.

Sentiment in financial stocks improved after U.S. President Barack Obama toned down his rhetoric against big U.S. banks and confidence was helped by the U.S. Federal Reserve's pledge to keep interest rates near zero for "an extended period".

Singapore's Straits Times Index <.FTSTI> closed up 1.9 percent, after falling for six days to its lowest since Nov. 13. Top lender DBS Group Holdings rose 2.3 percent while commodity share Olam International was up 3.4 percent.

Malaysia <.KLSE> and Thailand <.SETI> lost early gains and closed down 0.1 percent. The Philippines <.PSI> rose 1.4 percent but Vietnam <.VNI> fell for a second day, losing 1 percent.

FCPO Daily: Remains sideways to lower

Market recouped its earlier losses to fully cover the upside gap left over at 2458-2460. However, more strength is still needed in order to change the immediate daily technical landscape from negative to positive. As for now, we continue to look for the immediate support at 2393 followed by 2370-2360. While, upside resistance is pegged 2490-2500 followed by 2520.

FKLI Daily: remains Weak

Overall momentum remains weak despite market rebounded a little. Market looks may continue to move bias downside potential in near term. We continue to look for the resistance and support at 1280-1285 and 1260-1250 levels respeactively.

DJI Daily: Looking support at 10,000

Market is getting closer to the underline support at 10,000 mark. Violation of it may provide more room to bias downside potential in near term market. Next support will be looking at 9930-9850. While, upside resistance is pegged at 10280-10360 levels.