NYMEX Crude Oil - SINGAPORE, Jan 21 (Reuters) - U.S. crude
slipped towards $95 per barrel on Monday, on track for its first fall in four
sessions, after a surprise drop in U.S. consumer sentiment dented the outlook
for demand in the world's biggest oil user.
FCPO - SINGAPORE, Jan 21 (Reuters) -
Malaysian palm oil futures edged up on Monday, supported by dry weather
concerns in South America's soy-producing regions although gains were limited
by the latest cargo surveyor data pointing to weaker exports of the tropical
oil.
A turn to dry weather in Argentina
and in southern Brazil may lead to a lower supply of soybeans and soybean oil,
shifting some demand to competing palm oil that is trading at a hefty discount
of above $300.
But price upside could be limited as
exports continued to fall, easing 17.3 percent for the first 20 days of the
month to 830,830 tonnes from 1,004,159 tonnes a month ago, cargo surveyor
Intertek Testing Services said on Monday.
Another cargo, surveyor Societe
Generale de Surveillance, reported a 20 percent decline to 813,778 tonnes for
the same period.
"The market is holding on South
American weather worries and some chart-based buying interest," said a
trader with a local commodities brokerage in Malaysia. "But at the same
time exports are lower and end-stocks are building up."
At the close, the benchmark March
contract on the Bursa Malaysia Derivatives Exchange
gained 0.8 percent to 2,420 ringgit ($798) per tonne.
Total traded volume stood at 25,074
lots of 25 tonnes each, a tad higher than the usual 25,000 lots.
Malaysia's weather office issued a
heavy rain advisory on Monday, saying intermittent rain may cause floods over
low-lying areas that could disrupt production in key palm producing states of
Pahang and Johor.
A lower output may help ease
Malaysian palm oil stocks, currently at a record-high 2.63 million tonnes,
although traders point out that exports are also lower.
Market participants will also be
looking out for the impact of India's latest crude edible oils import duty of
2.5 percent which is aimed at curbing imports and protecting local refiners.
Regional equities - BANGKOK, Jan 21 (Reuters) -
Malaysia's main index fell 2.4 percent on Monday, its biggest one-day fall
since September 2011, as concerns about the country's upcoming election
triggered selling in recent gainers while flood-hit Indonesia erased earlier
gains to fall.
Malaysia's Kuala Lumpur Composite
index closed at 1,635.63, its lowest since Dec.
10, led down by a 5 percent drop in telecommunications operator Axiata Group
Bhd and a 4 percent loss in Digi.Com Bhd
The selloff took its year-to-date
loss to 3.2 percent, one of Asia's worst performing markets and sliding near an
oversold mark, with the 14-day relative strength index (RSI) at 31.87, the
lowest in the region.
Retail investors sold shares worth a
net $7.27 million while foreign investors sold a net $331,900, countering a net
buying of $7.87 million by local institutions, the Malaysian bourse said.
Jakarta's Composite Index was down 0.6 percent at 4,439.97 after a record close of 4,465.48 on Friday.
Major floods which hit Jakarta have raised concerns of a rise in inflation.
"Given a lingering poor market
sentiment, the one-off inflation could post a near-term market risk,"
Deutsche Bank Markets Research said in a report.
Elsewhere in the region, the
Philippine indexwas up 0.53 percent at 6,171.70, setting a
record finish for a ninth time so far in January. Thai SET index edged up 0.4 percent at 1,440.48, a 17-1/2 year closing high.
The Ho Chi Minh Stock Exchange's VN
Index fell for a third session on Monday, closing
down 1.4 percent at 447.79, the lowest close in almost two weeks. Investors
took profits in recent gainers such as financials.
