Friday, November 25, 2011

Trader's Highlight

NYMEX-SINGAPORE, Nov 24 (Reuters) - U.S. crude futures eased below $96 a barrel on Thursday as worries over global economic growth and a stronger dollar outweighed a sharp drawdown in U.S. crude stockpiles.

NYMEX crude for January delivery fell 24 cents to $95.93 a barrel by 0005 GMT, adding to a near $2 loss the previous session. The front-month contract has closed down in four of the last five sessions.

FCPO-SINGAPORE, Nov 24 (Reuters) - Malaysian palm oil futures dropped to their lowest in two weeks on Thursday as weak global economic sentiment weighed, with an unsuccessful German bond sale adding to worries that the Europe debt crisis was deepening.

The Germany's bond sale had one of the worst results since the launch of the euro, sending ripples across global markets from stocks to commodities. Palm oil this year has fallen nearly 18 percent so far.

Benchmark February palm oil futures on the Bursa Malaysia Derivatives Exchange closed 1.7 percent lower at 3,108 ringgit ($977) per tonne. Prices fell as low as 3,092 ringgit, a level last seen on Nov. 10.

REGIONAL EQUITIES-BANGKOK, Nov 24 (Reuters) - Major Southeast Asian stock markets were steady to higher on Thursday as commodities-related stocks regained some footing with a rebound in oil prices but broad risk aversion remained high because of worries about the state of the global economy.

However, turnover continued light for most regional markets as a combination of debt problems in Europe, a slowing Chinese economy and the uncertain outlook for the United States put off many investors.

Singapore-listed commodity firm Golden Agri Resources Ltd rose 1.5 percent, Malaysia's IOI Corporation Bhd gained 1.6 percent and Thailand's PTT Global Chemical Pcl edged up 0.4 percent.