Tuesday, November 2, 2010

Trader's Highlight

DJI-NEW YORK, Nov 1 (Reuters) - Investors were reluctant to make big bets ahead of two events that could dictate the stock market's direction for the rest of the year and beyond, leaving shares little changed on Monday.

U.S. factory activity in October expanded and construction spending rose unexpectedly in September, reports showed. Other data showed manufacturing in China expanded at the fastest pace in six months in October.

The Dow Jones industrial average <.DJI> was up 6.13 points, or 0.06 percent, at 11,124.62. The Standard & Poor's 500 Index <.SPX> was up 1.12 points, or 0.09 percent, at 1,184.38. The Nasdaq Composite Index <.IXIC> was down 2.57 points, or 0.10 percent, at 2,504.84.

NYMEX-NEW YORK, Nov 1 (Reuters) - U.S. crude oil futures ended nearly 2 percent higher on Monday, boosted by comments from the Saudi Arabian oil minister that an oil price between $70 and $90 a barrel was comfortable for consumers.

Expectations that the U.S. Federal Reserve will announce a second round of quantitative easing to help boost the U.S. economy, upbeat manufacturing data from China and the United States, and early weakness in the U.S. dollar encouraged fund buying, analysts said.

On the New York Mercantile Exchange, crude for December delivery settled up $1.52, or 1.87 percent, at $82.95 a barrel, trading from $81.32 to $83.86.

CBOT-CHICAGO, Nov 1 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYBEANS - November down 3/4 cent at $12.25-1/4 per bushel; January down 1 at $12.35. Scattered rainfall and more seasonal temperatures help ease stress for soybeans in northern Brazil and rain may encourage additional planting in the area. Periodic rainfall will maintain favorable conditions for early planted corn and soybeans in Argentina and the next chance of rain appears to be for this coming weekend.

CBOT-SOYOIL - December up 0.45 cent at 49.75 cents per lb. Support from gains in crude oil.

FCPO-KUALA LUMPUR, Nov 1 (Reuters) - Malaysian palm oil futures hit a new 27-month high on Monday on concern heavy rains may affect palm oil yields and a weak dollar trend lent support.

The dollar has come under pressure against most major currencies as the market anticipates the U.S. Federal Reserve will step up money printing after its policy meeting on Tuesday and Wednesday.

Benchmark Malaysian crude palm oil futures rose as much as 1.2 percent to 3,098 Malaysian ringgit ($1,002) per tonne -- a level unseen since July 28. 2008 and a touch below a key resistance level.

The contract ended at 3,092 ringgit. Overall traded volume stood at 14,307 lots of 25 tonnes each, down from the usual 10,000 lots.

REGIONAL EQUITIES-COLOMBO, Nov 1 (Reuters) - Southeast Asian stock markets rose on Monday on hopes of good demand for the region's exports as data from China and India showed strong production growth, ahead of possible quantitative easing measures in the United States.

Indonesia <.JKSE>, the region's best bourse with a gain of around 44 percent this year, rose 0.3 percent after an early drop, Singapore <.FTSTI> jumped 1.6 percent, Thailand <.SETI> closed 1.9 percent firmer and Malaysia <.KLSE> gained 0.3 percent.

Vietnam <.VNI> bucked the trend with a 0.4 percent fall, while the Philippines <.PSI> was closed for a holiday.

In Singapore, second-biggest lender Oversea-Chinese Banking Corp posted a 27 percent rise in quarterly profit, beating expectations, and its shares rose 2.3 percent.

Despite a net foreign outflow of $58.4 million on Monday, banking shares helped lift the Indonesian index, with a rise of over 13 percent in Bank Mega and Bank Thabungan PN .

Friday, October 29, 2010

Trader's Highlight

DJI-NEW YORK, Oct 28 (Reuters) - Global stocks rose despite Wall Street's mixed finish and the dollar's slide on Thursday as investors pulled back before expected upheaval from next week's U.S. elections and the likelihood of more monetary easing.

Oil prices ended higher, supported by an unexpected drop in new U.S. jobless claims to a three-month low and a dollar that weakened over rising worries about the extent of a second round of stimulus by the U.S. Federal Reserve next week.

The Dow Jones industrial average <.DJI> slipped 12.33 points, or 0.11 percent, to end at 11,113.95. The Standard & Poor's 500 Index <.SPX> edged up 1.33 points, or 0.11 percent, to 1,183.78. The Nasdaq Composite Index <.IXIC> rose 4.11 points, or 0.16 percent, to close at 2,507.37.

NYMEX-NEW YORK, Oct 28 (Reuters) - U.S. crude oil futures prices edged up in choppy trading on Thursday, receiving lift from the weak dollar and a report showing U.S. jobless benefits claims fell last week.

Those factors offset a dip by shares on Wall Street as markets remained cautious about the extent of expected Federal Reserve monetary easing that may emerge from the central bank's next policy meeting in early November.

On the New York Mercantile Exchange, December crude rose 24 cents, or 0.29 percent, to settle at $82.18 a barrel, trading from $81.50 to $82.64.

CBOT-CHICAGO, Oct 28 (Reuters) - Chicago Board of Trade grain and soybean complex close on Thursday.

CBOT-SOYBEANS - November up 1-1/4 cents at $12.25 per bushel; January unchanged at $12.36. Soaring wheat lends support along with brisk U.S. export sales, especially to China. Weak dollar, gains in gold also lend support. Gains trimmed on late profit-taking and unwinding of soy/wheat spreads.

CBOT-SOYOIL - December up 0.10 cent at 49.70 cents per lb. Support from higher soybeans and dollar weakness, but crude oil turns lower and profit-taking trimmed gains by the close of trading. Hefty U.S. Census soyoil stocks figure limits rally.

FCPO-KUALA LUMPUR, Oct 28 (Reuters) - Malaysian palm oil futures hit more than a two-year high on Thursday on a firmer soy complex driven by lingering weather concerns and the weaker U.S. dollar.

The palm oil market, which broke a two-day losing streak, was also supported by the start of the annual monsoon season this month that brings more rainfall and can hamper harvesting in major oil palm growing areas in Indonesia and Malaysia.

The benchmark Jan 2011 crude palm oil contract on Bursa Malaysia Derivatives ended 1.6 percent higher at 3,064 ringgit ($986.5), after rising as much as 3,086 ringgit ($993.5) -- its strongest level since July 28. 2008. Traded volume more than doubled to 20,472 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Oct 28 (Reuters) - Most Southeast Asian stock markets eked out slim gains on Thursday as investors selectively built up positions for the reporting season, and demand for resource shares picked up because of stronger commodity prices.

But share markets were below the highs set early this month and risk appetite was fairly low ahead of a U.S. Federal Reserve meeting next week that is expected to provide clues on the scale of asset purchases in the next round of quantitative easing (QE).

On the day, Singapore <.FTSTI> inched up 0.2 percent, reversing a fall to a three-week low on Wednesday, Malaysia <.KLSE> ended a tad higher, recouping an early loss, and Indonesia <.JKSE> gained 0.4 percent.

Among regional gainers, Singapore's Oversea-Chinese Banking Corp Ltd rose 0.7 percent and Malaysia's CIMB Group Holdings Berhad gained 0.5 percent.

Singapore and Malaysian banks are set to post strong earnings -- following Thai banks -- as bad debt slumps, housing loans rise and fees from underwriting stock offerings as well as wealth management services climb.

Thursday, October 28, 2010

Trader's Highlight

DJI-NEW YORK, Oct 27 (Reuters) - U.S. stocks fell on Wednesday as investors dialed back expectations of how aggressively the Fed would act to stimulate the economy.

With the uncertain outcomes of the U.S. elections and a Fed meeting next week, traders positioned themselves for more volatile markets. The CBOE Volatility index <.VIX> rose 2.4 percent and was up for the third consecutive day.

The Dow Jones industrial average <.DJI> dropped 43.18 points, or 0.39 percent, to 11,126.28. The Standard & Poor's 500 Index <.SPX> lost 3.19 points, or 0.27 percent, to 1,182.45. But the Nasdaq Composite Index <.IXIC> gained 5.97 points, or 0.24 percent, to 2,503.26.

NYMEX-NEW YORK, Oct 27 (Reuters) - U.S. crude oil futures prices settled lower on Wednesday as the dollar strengthened and equities eased amid lowered expectations about economic stimulus that may be forthcoming from the Federal Reserve.

Crude futures closed well above their intraday low as RBOB gasoline futures manageda higher settlement after a government oil inventory report showed a large drop in gasoline stockpiles last week, against a forecast for stocks to be up slightly.

On the New York Mercantile Exchange, December crude fell 61 cents, or 0.74 percent, to settle at $81.94 a barrel, having traded from $80.52 to $82.69.

CBOT-CHICAGO, Oct 27 (Reuters) - Chicago Board of Trade grain and soybean complex close on Wednesday.

CBOT-SOYBEANS - November up 4-3/4 cents at $12.23-3/4 per bushel; January up 5 at $12.36. Followed wheat futures higher with gains posted despite a firm dollar and early profit-taking after market set a 14-month top.

CBOT-SOYOIL - December up 0.07 cent at 49.60 cents per lb. Turned firm in line with soy gains.

FCPO-KUALA LUMPUR, Oct 27 (Reuters) - Malaysian palm oil extended losses on Wednesday and China's soyoil market tumbled from two-year highs as a stronger dollar made commodities priced in the currency expensive and unattractive as an inflation hedge.

The dollar rose broadly on Wednesday as speculation the U.S. Federal Reserve would take a gradualist approach to more quantitative easing next week prompted players to liquidate some short dollar positions.

Benchmark January 2011 palm oil futures on the Bursa Malaysia Derivatives Exchange ended 0.5 percent lower at 3,037 ringgit ($981.3), extending losses to a second day after the market hit a two-year high on Monday.

Traded volume was heavy at 19,420 lots of 25 tonnes each changing hands, almost double from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Oct 27 (Reuters) - Southeast Asian stock markets fell on Wednesday, finishing below the day's highs as risk appetite faded ahead of the likely release next week of details on a second round of quantitative easing in the United States.

Asian stocks elsewhere also moved lower after a Wall Street Journal article suggested the scale of the Federal Reserve's quantitative easing may be less than some in the market had expected.

Singapore's index <.FTSTI> lost 1.2 percent, at one point hitting a three-week low, Indonesia <.JKSE> dropped 0.8 percent after an early climb to a new record, and Thai stocks <.SETI> fell 1.2 percent, failing to hold above the 1,000 mark.

Singaporean palm oil firm Golden Agri-Resources Ltd fell 1.5 percent after rising to a two-year high on Tuesday, while Thailand's biggest coal mining firm, Banpu Pcl , dropped 2.5 percent after a surge on Tuesday to an all-time high.

Among bright spots, Singapore healthcare provider Thomson Medical Centre rose 5 percent after it reported strong fourth-quarter results.

Shares in Singapore-listed Chinese aluminium producer XinRen Aluminum opened 18.2 percent higher than their issue price at S$0.65 on their debut before ending at S$0.635.

Wednesday, October 27, 2010

Trader's Highlight

DJI-NEW YORK, Oct 26 (Reuters) - Investors showed unusual caution on Tuesday, leaving U.S. stocks little changed before the potential market tumult of next week's U.S. elections and likely announcement of more stimulus from the Federal Reserve.

Next week's high-profile events could signal shifts in both monetary policy and legislative direction, raising fears that trumped Tuesday's earnings news and economic reports.

The Dow Jones industrial average <.DJI> gained 5.41 points, or 0.05 percent, to 11,169.46. The Standard & Poor's 500 Index <.SPX> gained 0.02 point to 1,185.64. The Nasdaq Composite Index <.IXIC> gained 6.44 points, or 0.26 percent, to 2,497.29.

NYMEX-NEW YORK, Oct 26 (Reuters) - U.S. crude oil futures ended slightly higher on Tuesday, helped by improving consumer confidence but with gains limited by a rally in the dollar and broadly lower equities.

Oil also faced resistance as traders took positions ahead of weekly petroleum inventory data forecast to show that crude stocks rose.

On the New York Mercantile Exchange, crude for December delivery settled up 3 cents, or 0.04 percent, at $82.55 a barrel. It traded from $81.81 to $82.88, inside the range of the previous session at $81.45 TO $83.28.

CBOT-CHICAGO, Oct 26 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.

CBOT-SOYBEANS - November up 1-1/4 cents at $12.19 per bushel; January up 1 at $12.31. Boosted by spillover buying after wheat futures soared. Unwinding of soy/wheat spreads noted.

CBOT-SOYOIL - December up 0.06 cent per lb at 49.53 cents per lb. Rebounding crude oil market underpins soyoil despite weakness in soybeans.

FCPO-KUALA LUMPUR, Oct 26 (Reuters) - Malaysian palm oil futures eased on Tuesday on profit taking due to a firmer dollar, but losses were limited by strong Chinese demand for soybeans for crushing into vegetable oils.

The U.S. dollar edged up against the euro on Tuesday, although concerns about what the Federal Reserve might do at its rate setting meeting next week is clouding the outlook for the currency. [USD/]

The benchmark January 2011 crude palm oil contract ended 0.6 percent lower at 3,053 ringgit ($987.4). The previous day, the contract rose to its highest since July 28, 2008. Traded volume stood at 14,988 lots of 25 tonnes each.

Palm oil losses were capped thanks to a little changed U.S. soybeans complex, as strong purchases by China continue to underpin prices.

REGIONAL EQUITIES-BANGKOK, Oct 26 (Reuters) - Most Southeast Asian stock markets gained on Tuesday as investors scooped up blue chip firms during the reporting season, with market players waiting for details of further U.S. quantitative easing.

Indonesia's main index <.JKSE> hit a record high and Thailand's SET index <.SETI> topped the 1,000 mark for the first time since the 1997-98 Asian financial crisis.

Malaysia <.KLSE> ended up 0.37 percent, still below a 33-month high hit early this month, and Vietnam <.VNI> extended its gains into a fourth session, adding 1.5 percent to a one-week high.

Tuesday, October 26, 2010

Trader's Highlight

DJI-NEW YORK, Oct 25 (Reuters) - U.S. stocks rose to a five-and-a-half month high on Monday as a falling dollar, partly driven by expectations of further stimulus by the Federal Reserve, prompted investors to buy riskier assets.

The slide in the greenback continued after a weekend meeting of the Group of 20 stopped short of setting targets to reduce trade imbalances. Bets the Fed will stimulate growth by effectively printing money to buy assets has weakened the dollar, which in turn has lifted commodity prices.

The Dow Jones industrial average <.DJI> gained 31.49 points, or 0.28 percent, to 11,164.05. The Standard & Poor's 500 Index <.SPX> added 2.54 points, or 0.21 percent, to 1,185.62. The Nasdaq Composite Index <.IXIC> advanced 11.46 points, or 0.46 percent, to 2,490.85.

MYMEX-NEW YORK, Oct 25 (Reuters) - U.S. crude oil futures ended 1 percent higher, rising for a second straight session, as the dollar weakened and equities rose, and on comments from Greece's central bank that the worst was over for Greek banks.

Crude futures seesawed all day, retreating from the day's high when the dollar pared losses after falling when the Group of 20 meeting over the weekend disappointed investors.

On the New York Mercantile Exchange, December crude settled up 83 cents, or 1.02 percent, at $82.52 a barrel, trading from $81.45 to $83.28.

CBOT-CHICAGO, Oct 25 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYBEANS - November up 18-1/4 cents at $12.17-3/4 per
bushel; January up 18-1/2 at $12.30. Falling dollar and brisk export sales of U.S. soy, especially to China, combined to lift soybean futures.

CBOT-SOYOIL - December up 1.17 cents at 49.47 cents per lb. Gains in crude oil, soybean markets supportive.

FCPO-KUALA LUMPUR, Oct 25 (Reuters) - Vegetable oil markets jumped to two-year highs on Monday as the dollar fell broadly after a Group of 20 meeting and on concerns over delayed output in main soy producing areas.

The dollar slid against Asian currencies on Monday after the gathering produced enough agreement to keep in place a status quo trade of selling the U.S. currency and buying equities and commodities. [MKTS/GLOB]

Malaysian benchmark January palm oil ended at 3,071 ringgit ($986.5) after climbing as much as 2.4 percent to hit its highest since July 28, 2008. Volume almost doubled to 19,159 lots from the usual 10,000 lots.

REGIONAL EQUITIES-HONG KONG, Oct 25 (Reuters) - Most Southeast Asian stock markets rose on Monday, with Jakarta hovering near an all-time
high on optimism that Indonesian companies will report upbeat earnings this week, underpinned by the country's solid growth.

Shares in Singapore were trading close to a 29-month high posted in middle of this month, with the market focusing on a $8.3 billion takeover bid by local bourse operator Singapore Exchange for Sydney-based ASX Ltd .

In Singapore, the market was riveted by news that SGX had agreed to take over Australia's bourse operator to create Asia's fourth-largest stock exchange.

But traders said there were concerns SGX was paying too high a price, sending its stock 6 percent lower. Shares in ASX ended up 19.4 percent. Sentiment was also buoyed by gains in the broader Asian market, with the MSCI index of Asia-Pacific stocks outside Japan <.MIAPJ0000PUS> up 1.7 percent as of 0924 GMT. Malaysian shares <.KLSE> were little changed.

Monday, October 25, 2010

Trader's Highlight

DJI-NEW YORK, Oct 22 (Reuters) - U.S. stocks capped a third straight week of gains on Friday as encouraging earnings helped the market sustain upward momentum, led by Baidu Inc , the latest tech company to beat estimates.

The market has defied expectations for a pullback following a strong rally prior to the earnings season. Some investors were expecting the results to provide an excuse for broad profit-taking.

The Dow Jones industrial average <.DJI> dropped 14.01 points, or 0.13 percent, to 11,132.56. The Standard & Poor's 500 Index <.SPX> gained 2.82 points, or 0.24 percent, to 1,183.08. The Nasdaq Composite Index <.IXIC> gained 19.72 points, or 0.80 percent, to 2,479.39.

NYMEX-NEW YORK, Oct 22 (Reuters) - U.S. crude oil futures ended more than 1 percent higher on Friday, on late short-covering ahead of the weekend and positive German business sentiment data lifting prices, as the dollar index seesawed ahead of a G20 finance ministers' decision on currencies.

Strikes in France over pension reform that passed the French senate late in the day remained supportive, analysts said. The strike included walkouts in French refineries and a key oil port.

On the New York Mercantile Exchange, crude for December delivery settled at $81.69 a barrel, up $1.13, or 1.4 percent. It traded from $80.41 to $81.78, an "inside" day, in which the day's high and low are within the previous day's range. It followed a 2 percent price slump on Thursday.

CBOT-CHICAGO, Oct 22 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Friday.

CBOT-SOYBEANS - November down 2 cents at $11.99-1/2 per bushel; January down 1-1/2 at $12.11-1/2. Pre-weekend profit-taking and consolidation weighed on the market with light fund selling adding pressure. November options expired on Friday and November futures settled near the $12-per-bushel options strike price.

CBOT-SOYOIL - December up 0.06 cent at 48.30 cents per lb.

FCPO-KUALA LUMPUR, Oct 22 (Reuters) - Global vegetable oils stayed just below their two year highs on Friday as traders awaited more signs of continued demand from China for agriculture commodities and a stronger crude oil market.

China, over the past week, purchased large quantities of soybeans to satisfy strong cooking oil and animal feed demand -- helping boost vegetable oil markets.

The rally was also supported by a general weakness in the U.S. dollar, making palm oil, soybeans and soyoil cargoes priced in that currency cheaper.

The benchmark January 2011 crude palm oil on the Bursa Malaysia Derivatives Exchange ended 0.6 percent higher at 3,007 ringgit ($968.7) -- hovering below a more than two-year high of 3,021 ringgit hit the previous day.

REGIONAL EQUITIES-BANGKOK, Oct 22 (Reuters) - Most Southeast Asian stock markets posted small gains on Friday, with foreign buying helping push Philippine shares to a record high, amid optimism about profits as the earnings season gets under way.

Share markets pulled back on the week, however, failing to pass multi-year highs set the week before, and dealers said investors were waiting for details of a second round of quantitative easing in the United States, probably in November.

Singapore <.FTSTI> hovered below a 29-month high, Malaysia <.KLSE> came off a 33-month high and Indonesia <.JKSE> moved below a record high, while Thailand <.SETI> failed to get past the 1,000 mark, which was within sight last week for the first time since the 1997-98 Asian financial crisis.