Monday, October 3, 2011

Trader's Highlight

DJI-NEW YORK, Sept 30 (Reuters) - U.S. stocks ended their worst
quarter since the depths of the 2008 credit crisis, crippled by Europe's debt debacle, a U.S. credit downgrade and a sputtering global economy.

A steep slide on Friday closed out a fifth month of losses as weak economic data from China sparked fears of a global economic slowdown while investment bank Morgan Stanley plummeted on concerns about its exposure to European banks.

The Dow Jones industrial average <.DJI> dropped 240.60 points, or 2.16 percent, to 10,913.38. The Standard & Poor's 500 Index <.SPX> fell 28.98 points, or 2.50 percent, to 1,131.42. The Nasdaq Composite Index <.IXIC> lost 65.36 points, or 2.63 percent, to 2,415.40.


NYMEX-NEW YORK, Sept 30 (Reuters) - U.S. crude oil futures slumped more than 3 percent on Friday, posting the weakest quarterly performance since since the fourth quarter of 2008, as concerns about global economic growth pressured oil prices.

Weak manufacturing indicators from China, ongoing concerns about Europe's sovereign debt problems and a stronger dollar helped push oil lower.

On the New York Mercantile Exchange, November crude fell $2.94, or 3.58 percent, to settle at $79.20 a barrel, trading from $78.75 to $83.23.

CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell 4 percent in sympathy with corn after the U.S. Department of Agriculture reported larger-than-expected U.S. Sept. 1 corn stocks, traders said.

CBOT soybeans fell 19 percent for September -- the biggest monthly drop in three years -- and ended the quarter down 9 percent.

FCPO-JAKARTA, Sept 30 (Reuters) - Malaysian palm oil edged slightly higher on Friday, supported by expectations of higher demand for edible oils ahead of an Indian festival, with gains capped by lingering worries over the euro zone debt crisis.

Benchmark December palm oil futures <0#FCPO:> on the Bursa Malaysia Derivatives Exchange ended up 0.24 percent to 2,905 Malaysian ringgit ($914) a tonne.

Traded volumes for the December contract stood at 8,204 lots of 25 tonnes each compared with 16,115 lots on Thursday.

REGIONAL EQUITIES-BANGKOK, Sept 30 (Reuters) - Southeast Asian stock markets ended mixed on Friday, some pulling back from early gains at the end of the worst quarter since October-December 2008 after the European debt crisis and a slowing U.S. economy led to a sell-off as investors cut risk.

Market players remained nervous about a further deterioration and most markets were locked in a narrow range on Friday, with low trading volume.

Among hardest hit, Singapore <.FTSTI> fell 1.2 percent and Thailand <.SETI> lost 1.1 percent. Malaysia <.KLSE> and Vietnam <.VNI> posted more limited losses. Indonesia <.JKSE> edged up 0.3 percent and the Philippines <.PSI> jumped 3.2 percent.

Kuala Lumpur posted 42.3 million ringgit ($13.3 million) in outflows while domestic institution bought a net 107 million Malaysian ringgit ($33.7 million) after steady buying this week, stock exchange data showed.

Singapore slumped 14.5 percent in the quarter, ahead of Malaysia's 12.2 percent, Thailand's 12 percent, Indonesia's 8.7 percent and the Philippines' 6.8 percent.