NEW DELHI, March 3 (Reuters) - India's edible oil imports may fall by around 500,000 tonnes as domestic supply is expected to rise 15 percent to 7.5 million tonnes in 2010/11 on higher oilseeds output, a leading trader said on Thursday.
Higher local supply in the world's No. 1 edible oil buyer and lower imports could put a downward pressure on global prices.
Friday, March 4, 2011
Breaking News-RTRS-Argentine dock workers continue to block grain ports
BUENOS AIRES, March 3 (Reuters) - Argentine dock workers continued to block two grains export terminals on Thursday in the Rosario port area over pay demands, but most soy-crushing plants in the hub operated normally, the stevedores' cooperative said.
Approximately 16 percent of the country's soyoil processing capacity is affected by the industrial action.
The blockade began on Wednesday evening after talks between exporters and the dock workers' cooperative over wage demands ended without a deal.
Approximately 16 percent of the country's soyoil processing capacity is affected by the industrial action.
The blockade began on Wednesday evening after talks between exporters and the dock workers' cooperative over wage demands ended without a deal.
Trader's Highlight
DJI-NEW YORK, March 3 (Reuters) - Wall Street scored its best one-day rally in three months on Thursday, due to a pullback in oil prices and upbeat labor market data, while the euro jumped on the European Central Bank president's inflation warning.
Data showing new U.S. claims for unemployment benefits fell last week to their lowest level in more than 2-1/2 years represented the latest optimistic reading to bolster hopes for an upside surprise in Friday's key payrolls report.
The Dow Jones industrial average <.DJI> gained 191.40 points, or 1.59 percent, to end at 12,258.20. The S&P 500 rose 22.53 points, or 1.72 percent, to finish at 1,330.97. The Nasdaq Composite Index <.IXIC> jumped 50.67 points, or 1.84 percent, to close at 2,798.74.
CBOT-CHICAGO, March 3 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Thursday.
CBOT-SOYBEANS - May up 17-3/4 cents at $14.12 per bushel. Support from talk China may be lowering import tariffs, labor unrest at Argentina's Rosario port and wet weather in portions of Brazil that was slowing soybean harvest. A weak dollar also lending support.
CBOT-SOYOIL - May down 0.03 cent at 58.77 cents per lb. Weighed down by unwinding of oil/meal spreads and weak crude oil.
FCPO-JAKARTA, March 3 (Reuters) - Malaysian palm oil futures hit a one-week peak before paring gains late on Thursday, as potential import tariff cuts in top consumer China offset falling crude prices weighed by a possible peace plan in Libya.
China will cut tariffs and red tape to boost imports this year and "maintain balanced trade," Zhong Shan, the country's vice minister of commerce said in comments published on Thursday, but did not disclose details.
The benchmark May 2011 crude palm oil contract on Bursa Malaysia Derivatives added 0.3 percent to 3,600 Malaysian ringgit ($1,185) a tonne. Earlier, prices rose to a high of 3,648 ringgit -- a level not seen since Feb.22.
The most-active Sept 2011 soyoil on the Dalian Commodity Exchange traded at 10,308 yuan versus an open at 10,366 yuan.
REGIONAL EQUITIES-BANGKOK, March 3 (Reuters) - Southeast Asian stock markets rose on Thursday as oil dipped and some investors took heart from news of a peace plan for Libya, with airlines in particular seeing strong demand.
But volume across the region was relatively weak as many investors preferred to wait and see what happened to the peace plan. The energy-driven Thai stock market saw turnover drop to 0.8 times its 30-day average and oil-linked shares dropped.
Share markets ended off their day's highs, with Singapore <.FTSTI>, Malaysia <.KLSE>, Indonesia <.JKSE> and Thailand <.SETI> posting only small gains on the day.
Oil prices briefly dropped by more than $3 after the Arab League said a peace plan for Libya was under consideration, before recovering.
Malaysia had $40 million in outflows and Thailand posted $56 million in outflows, exchange data showed.
Thailand's national carrier, Thai Airways International, surged 7.2 percent, Malaysia's AirAsia climbed 2.5 percent and Singapore Airlines , Southeast Asia's biggest airline, rose 0.8 percent
Palm plantation stocks were among bright spots as Malaysian palm oil futures rose to a one-week peak on Thursday, buoyed by a potential import tariff cut in top consumer China.
Shares in Wilmar International, the world's largest listed palm oil company, gained 1.8 percent and Golden Agri-Resources climbed 2.2 percent.
Data showing new U.S. claims for unemployment benefits fell last week to their lowest level in more than 2-1/2 years represented the latest optimistic reading to bolster hopes for an upside surprise in Friday's key payrolls report.
The Dow Jones industrial average <.DJI> gained 191.40 points, or 1.59 percent, to end at 12,258.20. The S&P 500 rose 22.53 points, or 1.72 percent, to finish at 1,330.97. The Nasdaq Composite Index <.IXIC> jumped 50.67 points, or 1.84 percent, to close at 2,798.74.
CBOT-CHICAGO, March 3 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Thursday.
CBOT-SOYBEANS - May
CBOT-SOYOIL - May
FCPO-JAKARTA, March 3 (Reuters) - Malaysian palm oil futures hit a one-week peak before paring gains late on Thursday, as potential import tariff cuts in top consumer China offset falling crude prices weighed by a possible peace plan in Libya.
China will cut tariffs and red tape to boost imports this year and "maintain balanced trade," Zhong Shan, the country's vice minister of commerce said in comments published on Thursday, but did not disclose details.
The benchmark May 2011 crude palm oil contract
The most-active Sept 2011 soyoil
REGIONAL EQUITIES-BANGKOK, March 3 (Reuters) - Southeast Asian stock markets rose on Thursday as oil dipped and some investors took heart from news of a peace plan for Libya, with airlines in particular seeing strong demand.
But volume across the region was relatively weak as many investors preferred to wait and see what happened to the peace plan. The energy-driven Thai stock market saw turnover drop to 0.8 times its 30-day average and oil-linked shares dropped.
Share markets ended off their day's highs, with Singapore <.FTSTI>, Malaysia <.KLSE>, Indonesia <.JKSE> and Thailand <.SETI> posting only small gains on the day.
Oil prices briefly dropped by more than $3 after the Arab League said a peace plan for Libya was under consideration, before recovering.
Malaysia had $40 million in outflows and Thailand posted $56 million in outflows, exchange data showed.
Thailand's national carrier, Thai Airways International
Palm plantation stocks were among bright spots as Malaysian palm oil futures rose to a one-week peak on Thursday, buoyed by a potential import tariff cut in top consumer China.
Shares in Wilmar International
Thursday, March 3, 2011
Breaking News-RTRS-CHINA TO CUT IMPORT TARIFFS ON A RANGE OF PRODUCTS -CHINA DAILY QUOTES VICE MINISTER OF COMMERCE
BEIJING, March 3 (Reuters) - China will cut import tariffs and red tape to boost imports this year and "maintain balanced trade," China's vice minister of commerce said in comments published on Thursday.
"We will launch a series of measures to stimulate imports this year, including adjusting tariffs on some categories of goods and further simplifying the administrative process," Zhong Shan told the official China Daily newspaper.
He did not give details on the measures to be introduced.
Sources told Reuters that the Commerce Ministry was consulting other ministries about cutting import taxes
"We will launch a series of measures to stimulate imports this year, including adjusting tariffs on some categories of goods and further simplifying the administrative process," Zhong Shan told the official China Daily newspaper.
He did not give details on the measures to be introduced.
Sources told Reuters that the Commerce Ministry was consulting other ministries about cutting import taxes
Trader's Highlight
DJI-NEW YORK, March 2 (Reuters) - Brent crude oil prices rose on Wednesday as news of an airstrike in Libya near an oil terminal spurred supply worries, while investors' flight to safety drove gold to a record high.
World stocks dipped, while Wall Street stocks advanced. U.S. economic data, including a Federal Reserve report saying the U.S. economy has slowly gained strength this year, helped to offset worries that higher oil prices will dampen growth.
Oil prices jumped to approach 2-1/2-year highs on news that airstrikes hit Brega about 1.2 miles (about 2 kilometers) from a Libyan oil terminal, after Libyan leader Muammar Gaddafi launched land and air offensives to retake territory in Libya's eastern region.
Investors are worried that political instability could spread to major oil producer Saudi Arabia, a central U.S. ally in the region, and other oil suppliers.
The Dow Jones industrial average <.DJI> rose 8.78 points, or 0.07 percent, to settle at 12,066.80. The Standard & Poor's 500 Index <.SPX> gained 2.11 points, or 0.16 percent, to end at 1,308.44. The Nasdaq Composite Index <.IXIC> advanced 10.66 points, or 0.39 percent, to settle at 2,748.07.
CBOT-CHICAGO, March 2 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.
CBOT-SOYBEANS - May up 19 cents at $13.94-1/4 per bushel. Boosted by wet weather in Brazil that was slowing soy harvest, firm crude oil, fund buying and talk China may be lifting price controls on vegoils. Also talk that China is seeking soybeans from South America or the United States.
CBOT-SOYOIL - May up 1.20 cents at 58.80 cents per lb. Support from gains in soybeans, higher crude oil and talk China may lift price controls on vegoils.
FCPO-JAKARTA, March 2 (Reuters) - Malaysian palm oil futures rose more than 2 percent before easing on Wednesday as traders eyed growing demand for biodiesel while tension in the Middle East boosted crude oil.
Palm oil is less likely to be channeled into biofuels due to a lack of government subsidies, but mandates in Brazil and the United States may see more soyoil taken up, which leaves palm oil to lead the food sector.
The benchmark May 2011 crude palm oil contract on Bursa Malaysia Derivatives added 1.2 percent to 3,590 Malaysian ringgit ($1,183) a tonne. Earlier, prices rose to a high at 3,629 ringgit -- a level not seen since Feb. 22.
Palm oil has been volatile, like most commodities, as traders are trying to decide whether rising crude oil prices, owing to the spreading Middle East unrest, will slow economic growth or fuel demand for feedstocks that can be converted into diesel.
REGIONAL EQUITIES-BANGKOK, March 2 (Reuters) - Southeast Asian stocks fell on Wednesday in broad-based selling as escalating geopolitical risks in the Middle East made emerging market investors wary of the impact of oil-driven inflation on the global economic recovery.
Oil rose towards a 2-1/2-year high and stocks around Asia fell as investors shunned risky assets on concern that the unrest in Libya would spread through the Middle East and disrupt fuel supplies.
The drop in stocks was led by a 1.3 percent loss in Singapore <.FTSTI>, with most other markets falling less than 1 percent. The Thai market <.SETI> ended down 0.7 percent, with even upstream oil firms giving up some of their recent gains.
Market volume was low. Turnover on the Thai market, for example, dropped to just 0.6 times its 30-day average, followed by Malaysia's 0.8 and Singapore's 0.9.
The region mostly saw foreign outflows, led by Malaysia's $54 million, its exchange said. Indonesia saw $11.2 million in outflows and the Philippines $6 million, according to Thomson Reuters data.
World stocks dipped, while Wall Street stocks advanced. U.S. economic data, including a Federal Reserve report saying the U.S. economy has slowly gained strength this year, helped to offset worries that higher oil prices will dampen growth.
Oil prices jumped to approach 2-1/2-year highs on news that airstrikes hit Brega about 1.2 miles (about 2 kilometers) from a Libyan oil terminal, after Libyan leader Muammar Gaddafi launched land and air offensives to retake territory in Libya's eastern region.
Investors are worried that political instability could spread to major oil producer Saudi Arabia, a central U.S. ally in the region, and other oil suppliers.
The Dow Jones industrial average <.DJI> rose 8.78 points, or 0.07 percent, to settle at 12,066.80. The Standard & Poor's 500 Index <.SPX> gained 2.11 points, or 0.16 percent, to end at 1,308.44. The Nasdaq Composite Index <.IXIC> advanced 10.66 points, or 0.39 percent, to settle at 2,748.07.
CBOT-CHICAGO, March 2 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.
CBOT-SOYBEANS - May
CBOT-SOYOIL - May
FCPO-JAKARTA, March 2 (Reuters) - Malaysian palm oil futures rose more than 2 percent before easing on Wednesday as traders eyed growing demand for biodiesel while tension in the Middle East boosted crude oil.
Palm oil is less likely to be channeled into biofuels due to a lack of government subsidies, but mandates in Brazil and the United States may see more soyoil taken up, which leaves palm oil to lead the food sector.
The benchmark May 2011 crude palm oil contract
Palm oil has been volatile, like most commodities, as traders are trying to decide whether rising crude oil prices, owing to the spreading Middle East unrest, will slow economic growth or fuel demand for feedstocks that can be converted into diesel.
REGIONAL EQUITIES-BANGKOK, March 2 (Reuters) - Southeast Asian stocks fell on Wednesday in broad-based selling as escalating geopolitical risks in the Middle East made emerging market investors wary of the impact of oil-driven inflation on the global economic recovery.
Oil rose towards a 2-1/2-year high and stocks around Asia fell as investors shunned risky assets on concern that the unrest in Libya would spread through the Middle East and disrupt fuel supplies.
The drop in stocks was led by a 1.3 percent loss in Singapore <.FTSTI>, with most other markets falling less than 1 percent. The Thai market <.SETI> ended down 0.7 percent, with even upstream oil firms giving up some of their recent gains.
Market volume was low. Turnover on the Thai market, for example, dropped to just 0.6 times its 30-day average, followed by Malaysia's 0.8 and Singapore's 0.9.
The region mostly saw foreign outflows, led by Malaysia's $54 million, its exchange said. Indonesia saw $11.2 million in outflows and the Philippines $6 million, according to Thomson Reuters data.
Wednesday, March 2, 2011
Trader's Highlight
DJI-NEW YORK, March 1 (Reuters) - Concerns that rising oil prices could hurt economic recovery prompted investors on Tuesday to sell stocks and hedge against further declines.
The CBOE Volatility Index VIX <.VIX>, Wall Street's so-called fear gauge, jumped 13.1 percent to 20.75 on growing uncertainty about oil. The index measures the cost of using options as insurance against a decline in the S&P 500 <.SPX> index.
The Dow Jones industrial average <.DJI> fell 169.38 points, or 1.39 percent, at 12,056.96. The Standard & Poor's 500 Index dropped 21.04 points, or 1.59 percent, to 1,306.18. The Nasdaq Composite Index <.IXIC> lost 44.86 points, or 1.61 percent, to 2,737.41.
NYMEX-NEW YORK, March 1 (Reuters) - U.S. crude oil futures settled at their highest level in 2-1/2 years on Tuesday, as Libya's popular revolt flared up, raising more concerns that similar upheavals may engulf other oil producers in the Middle East and North Africa.
The United States warned Libya could descend into civil war unless Muammar Gaddafi steps down intensifying its pressure against the intransigent leader.
On the New York Mercantile Exchange, crude for Aprildelivery settled at $99.63a barrel, gaining $2.66, or 2.74 percent, after trading from $96.37 to $99.72. It was the highest closing price since front-month NYMEX crude settled at $100.64 on Sept. 30, 2008.
CBOT-CHICAGO, March 1 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.
CBOT-SOYBEANS - May up 10-1/2 cents at $13.75-1/4.
New-crop November up 3-1/2 at $13.28-1/4. Late fund buying lifted soy to a higher close but the volume of buying was not huge, traders said. Gains in crude oil supportive.
CBOT-SOYOIL - May up 0.27 cent at 57.60 cents per lb. Gains in crude and palm oil supportive.
FCPO-KUALA LUMPUR, March 1 (Reuters) - Malaysian palm oil futures jumped as much as 2.6 percent on Tuesday as traders focused on buoyant crude markets setting the stage for growing biodiesel demand.
Although palm oil is less likely to be channelled into biofuels due to lack of government subsidies, aggressive mandates in Brazil and the United States may see more soyoil taken up, which leaves palm oil to dominate the food sector.
Palm oil has been volatile like most commodities as traders are trying to process whether rising crude oil, owing to the spreading Middle East unrest, will slow economic growth or fuel demand for feedstocks that can be converted into diesel.
The benchmark May crude palm oil contract on Bursa Malaysia Derivatives rose as much as 90 ringgit to 3,562 ringgit $1,167.677) before settling at 3,546 ringgit. Overall volumes shot up to 24,896 lots at 25 tonnes each from the usual 15,000 lots traded.
REGIONAL EQUITIES-BANGKOK, March 1 (Reuters) - Southeast Asian stock markets ended higher on Tuesday as investors bought commodity shares because of rising inflation expectations and banks gained due to the prospect of higher interest rates around the region.
Indonesia <.JKSE> rose 1.2 percent and Thailand <.SETI> gained 0.7 percent, led by banks, after both reported inflation data for February and economists forecast a rise in interest rates there.
Other markets in the region gained, led by Singapore's Straits Time Index <.FTSTI>, climbing almost 2 percent to around a one-week high of 3,067.60.
Singapore suffered a 5.3 percent loss in February, its worst monthly fall since May and the second worst in Southeast Asia after Vietnam's 9.6 percent.
Malaysia <.KLSE> and the Philippines <.PSI> each gained less than 1 percent on the day. Vietnam <.VNI> rose 1 percent after losing 10 percent in February after a dong devaluation.
Volume was relatively active across the region on Tuesday, with turnover in Singapore rising to 1.4 times its 30-day average, followed by Indonesia's 1.2 times. Turnover in Malaysia and Vietnam both fell short of their 30-day average.
The Singapore Exchange started all-day trading on Tuesday from 9 a.m. to 5 p.m. Malaysia suffered an outflow of $27 million on the day, after straight outflows over the past three weeks, the exchange said.
Shares in palm oil firms climbed across the region as Malaysian palm oil futures rose 1.3 percent. Singapore's Wilmar International, the world's largest palm oil plantation firm by market value, gained 1.4 percent and Malaysia's second-largest palm company, IOI Corp , added 0.7 percent.
The CBOE Volatility Index VIX <.VIX>, Wall Street's so-called fear gauge, jumped 13.1 percent to 20.75 on growing uncertainty about oil. The index measures the cost of using options as insurance against a decline in the S&P 500 <.SPX> index.
The Dow Jones industrial average <.DJI> fell 169.38 points, or 1.39 percent, at 12,056.96. The Standard & Poor's 500 Index dropped 21.04 points, or 1.59 percent, to 1,306.18. The Nasdaq Composite Index <.IXIC> lost 44.86 points, or 1.61 percent, to 2,737.41.
NYMEX-NEW YORK, March 1 (Reuters) - U.S. crude oil futures settled at their highest level in 2-1/2 years on Tuesday, as Libya's popular revolt flared up, raising more concerns that similar upheavals may engulf other oil producers in the Middle East and North Africa.
The United States warned Libya could descend into civil war unless Muammar Gaddafi steps down intensifying its pressure against the intransigent leader.
On the New York Mercantile Exchange, crude for Aprildelivery
CBOT-CHICAGO, March 1 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.
CBOT-SOYBEANS - May
New-crop November
CBOT-SOYOIL - May
FCPO-KUALA LUMPUR, March 1 (Reuters) - Malaysian palm oil futures jumped as much as 2.6 percent on Tuesday as traders focused on buoyant crude markets setting the stage for growing biodiesel demand.
Although palm oil is less likely to be channelled into biofuels due to lack of government subsidies, aggressive mandates in Brazil and the United States may see more soyoil taken up, which leaves palm oil to dominate the food sector.
Palm oil has been volatile like most commodities as traders are trying to process whether rising crude oil, owing to the spreading Middle East unrest, will slow economic growth or fuel demand for feedstocks that can be converted into diesel.
The benchmark May crude palm oil contract
REGIONAL EQUITIES-BANGKOK, March 1 (Reuters) - Southeast Asian stock markets ended higher on Tuesday as investors bought commodity shares because of rising inflation expectations and banks gained due to the prospect of higher interest rates around the region.
Indonesia <.JKSE> rose 1.2 percent and Thailand <.SETI> gained 0.7 percent, led by banks, after both reported inflation data for February and economists forecast a rise in interest rates there.
Other markets in the region gained, led by Singapore's Straits Time Index <.FTSTI>, climbing almost 2 percent to around a one-week high of 3,067.60.
Singapore suffered a 5.3 percent loss in February, its worst monthly fall since May and the second worst in Southeast Asia after Vietnam's 9.6 percent.
Malaysia <.KLSE> and the Philippines <.PSI> each gained less than 1 percent on the day. Vietnam <.VNI> rose 1 percent after losing 10 percent in February after a dong devaluation.
Volume was relatively active across the region on Tuesday, with turnover in Singapore rising to 1.4 times its 30-day average, followed by Indonesia's 1.2 times. Turnover in Malaysia and Vietnam both fell short of their 30-day average.
The Singapore Exchange
Shares in palm oil firms climbed across the region as Malaysian palm oil futures rose 1.3 percent. Singapore's Wilmar International
Tuesday, March 1, 2011
Trader's Highlight
NYMEX-NEW YORK, Feb 28 (Reuters) - Bullish comments from Warren Buffett helped U.S. stocks end another good month on a high note on Monday, but uncertainty about oil prices could keep investors from pushing the market much higher.
A sign stocks may stall out was evident in the lackluster volume, in contrast with last week's selloff which occurred on heavy volume. Just 7.49 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq, well below last year's daily average of 8.47 billion.
The Dow Jones industrial average <.DJI> was up 95.89 points, or 0.79 percent, at 12,226.34. The Standard & Poor's 500 Index <.SPX> was up 7.35 points, or 0.56 percent, at 1,327.23. The Nasdaq Composite Index <.IXIC> was up 1.22 points, or 0.04 percent, at 2,782.27.
NYMEX-NEW YORK, Feb 28 (Reuters) - U.S. crude oil prices ended lower on Monday, after Saudi Arabia reassured the market that extra supply needed due to disruptions in Libya had been met.
For the month, however, prices rose more than 5 percent, as the supply outages and violence in Libya spurred worries that tensions could spread to other oil producers in the Middle East and North Africa.
On the New York Mercantile Exchange, April crude settled down down 91 cents, or 0.93 percent, at $96.97 a barrel. For the month, front-month crude futures rose $4.78, or 5.18 percent, their best performance since December 2010, when prices rose $7.27, or 8.64 percent.
CBOT-CHICAGO, Feb 28 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Monday.
CBOT-SOYBEANS - May down 10-1/4 cents at $13.64-3/4 per bushel. Pressured by harvesting of a likely bumper soy crop in South America while a rally in corn and wheat limited declines.
CBOT-SOYOIL - May down 0.25 cent at 57.33 cents per lb. Following soybeans and pressure from fall of Malaysian palm oil.
FCPO-KUALA LUMPUR, Feb 28 (Reuters) - Malaysian palm oil fell 1.2 percent on Friday and marked its worst monthly loss in over a year as traders grew concerned that the spreading Middle East unrest may cloud global economic recovery.
The market swung into losses after posting gains earlier in the day with a U.S. report signalled growing demand for vegetable oil-based biofuel with competing crude oil markets.
The benchmark May crude palm oil contract on Bursa Malaysia Derivatives settled down 43 ringgit to 3,472 ringgit ($1,137.428) per tonne. Overall volumes rose to 26,407 lots of 25 tonnes each, up from the usual 15,000 lots
REGIONAL EQUITIES-COLOMBO, Feb 28 (Reuters) - Indonesia and the Philippines led most Southeast Asian stock markets higher on Monday, and financials were in demand around the region against a background of rising interest rates.
Inflationary expectations as oil and food prices rose also pushed investors towards energy and food companies.
Indonesia <.JKSE> and the Philippines <.PSI> rose 0.8 percent each, while Thailand rose 0.2 percent, mainly thanks to banks. A 3.9 percent gain in Bangkok Bank and a 1.7 percent rise in PTT Exploration and Production helped the Thai index reverse an early loss in thin volume. Malaysia saw a net outflow of 218.6 million ringgit ($71 million).
Singapore and Malaysia saw higher volumes than their 30-day average, but other markets recorded low volume.
A sign stocks may stall out was evident in the lackluster volume, in contrast with last week's selloff which occurred on heavy volume. Just 7.49 billion shares traded on the New York Stock Exchange, NYSE Amex and Nasdaq, well below last year's daily average of 8.47 billion.
The Dow Jones industrial average <.DJI> was up 95.89 points, or 0.79 percent, at 12,226.34. The Standard & Poor's 500 Index <.SPX> was up 7.35 points, or 0.56 percent, at 1,327.23. The Nasdaq Composite Index <.IXIC> was up 1.22 points, or 0.04 percent, at 2,782.27.
NYMEX-NEW YORK, Feb 28 (Reuters) - U.S. crude oil prices ended lower on Monday, after Saudi Arabia reassured the market that extra supply needed due to disruptions in Libya had been met.
For the month, however, prices rose more than 5 percent, as the supply outages and violence in Libya spurred worries that tensions could spread to other oil producers in the Middle East and North Africa.
On the New York Mercantile Exchange, April crude
CBOT-CHICAGO, Feb 28 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Monday.
CBOT-SOYBEANS - May
CBOT-SOYOIL - May
FCPO-KUALA LUMPUR, Feb 28 (Reuters) - Malaysian palm oil fell 1.2 percent on Friday and marked its worst monthly loss in over a year as traders grew concerned that the spreading Middle East unrest may cloud global economic recovery.
The market swung into losses after posting gains earlier in the day with a U.S. report signalled growing demand for vegetable oil-based biofuel with competing crude oil markets.
The benchmark May crude palm oil contract
REGIONAL EQUITIES-COLOMBO, Feb 28 (Reuters) - Indonesia and the Philippines led most Southeast Asian stock markets higher on Monday, and financials were in demand around the region against a background of rising interest rates.
Inflationary expectations as oil and food prices rose also pushed investors towards energy and food companies.
Indonesia <.JKSE> and the Philippines <.PSI> rose 0.8 percent each, while Thailand rose 0.2 percent, mainly thanks to banks. A 3.9 percent gain in Bangkok Bank and a 1.7 percent rise in PTT Exploration and Production
Singapore and Malaysia saw higher volumes than their 30-day average, but other markets recorded low volume.
Monday, February 28, 2011
Trader's Highlight
DJI-NEW YORK, Feb 25 (Reuters) - U.S. stocks rose on Friday, bouncing back from a three-day sell-off as oil prices stabilized, but unease over the Libyan rebellion could be enough to keep buying in check.
The S&P 500 lost 1.7 percent for the week, breaking a three-week streak of gains. Friday's bounce followed a late recovery Thursday that showed buyers were ready to support shares after a bout of selling.
Analysts have been calling for a correction in stocks, with the S&P 500 up 25.8 percent since the start of September. Much weaker-than-average volume on Friday cast doubt on stocks' ability to move higher.
The Dow Jones industrial average <.DJI> gained 61.95 points, or 0.51 percent, to end at 12,130.45. The Standard & Poor's 500 Index <.SPX> advanced 13.78 points, or 1.06 percent, to finish at 1,319.88. The Nasdaq Composite Index <.IXIC> rose 43.15 points, or 1.58 percent, to close at 2,781.05.
NYMEX-NEW YORK, Feb 25 (Reuters) - U.S. crude oil futures rose on Friday, posting their highest weekly settlement since September 2008, as supply worries arising from the Libyan unrest persisted.
In volatile trading, prices closed well below Thursday's 2-1/2 year highs, as top oil Saudi Arabia raised its production to calm market fears due to outages in Libyan output.
Short-covering ahead of the weekend developed on concerns that tensions would spread to other oil-producers and after the United States announced it was imposing sanctions against Libya for Muammar Gaddafi's treatment of his opponents.
On the New York Mercantile Exchange, crude for April delivery settled at $97.88 a barrel, up 60 cents, or 0.62 percent, trading from $96.17 to $99.20. It was the highest settlement since Sept. 26, 2008's close at $106.89. For the week, the contract rose $11.68, gaining 13.5 percent.
CBOT-CHICAGO, Feb 25 (Reuters) - Chicago Board of Trade grain and soy complex closing trends on Friday.
CBOT-SOYBEANS - May up 45-3/4 cents at $13.75 a bushel. Rallied from steep declines this week, buoyed by technical buying and forecasts for continued tight U.S. soy stocks. Market briefly rose the 70-cent daily limit before easing.
CBOT-SOYOIL - May up 2.30 cents at 57.58 cents per lb. Soared after USDA projected 2011/12 soyoil ending stocks at 2.073 billion lbs, down from 2.573 billion in 2010/11. Spillover strength from soybeans added support. Market briefly traded up the 2.5-cent limit before setting back.
FCPO-KUALA LUMPUR, Feb 25 (Reuters) - Malaysian palm oil futures rose as much as 2.5 percent on Friday after sharp sell-off the previous day as investors snapped up bargains although concerns lingered over Middle East unrest slowing economic growth.
Palm oil hit its lowest since Nov. 29 on Thursday with traded volumes hitting a record high of 48,704 lots of 25 tonnes each on selling pressure from refiners and funds cutting positions. [ID:nL3E7DO0WM]
The benchmark May crude palm oil futures climbed as much as 86 ringgit to 3,541 ringgit($1,155)before settling at 3,515 ringgit. Traded volume at the time stood at 29,810 lots of 25 tonnes each from the usual 15,000 lots.
REGIONAL EQUITIES-COLOMBO, Feb 25 (Reuters) - Southeast Asian stock markets rallied on Friday but volume was thin and worries about rising oil prices, which could hurt economic growth, meant trading would continue volatile next week, analysts said.
Brent oil traded above $112 a barrel as the revolt in Libya sparked fears of supply shortages, despite assurances by top oil exporter Saudi Arabia that it would step in to fill any shortfall.
Singapore <.FTSTI> gained 1.8 percent and the Philippines <.PSE> edged up 0.2 percent as both markets recovered from a near-six-month low.
The S&P 500 lost 1.7 percent for the week, breaking a three-week streak of gains. Friday's bounce followed a late recovery Thursday that showed buyers were ready to support shares after a bout of selling.
Analysts have been calling for a correction in stocks, with the S&P 500 up 25.8 percent since the start of September. Much weaker-than-average volume on Friday cast doubt on stocks' ability to move higher.
The Dow Jones industrial average <.DJI> gained 61.95 points, or 0.51 percent, to end at 12,130.45. The Standard & Poor's 500 Index <.SPX> advanced 13.78 points, or 1.06 percent, to finish at 1,319.88. The Nasdaq Composite Index <.IXIC> rose 43.15 points, or 1.58 percent, to close at 2,781.05.
NYMEX-NEW YORK, Feb 25 (Reuters) - U.S. crude oil futures rose on Friday, posting their highest weekly settlement since September 2008, as supply worries arising from the Libyan unrest persisted.
In volatile trading, prices closed well below Thursday's 2-1/2 year highs, as top oil Saudi Arabia raised its production to calm market fears due to outages in Libyan output.
Short-covering ahead of the weekend developed on concerns that tensions would spread to other oil-producers and after the United States announced it was imposing sanctions against Libya for Muammar Gaddafi's treatment of his opponents.
On the New York Mercantile Exchange, crude for April delivery
CBOT-CHICAGO, Feb 25 (Reuters) - Chicago Board of Trade grain and soy complex closing trends on Friday.
CBOT-SOYBEANS - May
CBOT-SOYOIL - May
FCPO-KUALA LUMPUR, Feb 25 (Reuters) - Malaysian palm oil futures rose as much as 2.5 percent on Friday after sharp sell-off the previous day as investors snapped up bargains although concerns lingered over Middle East unrest slowing economic growth.
Palm oil hit its lowest since Nov. 29 on Thursday with traded volumes hitting a record high of 48,704 lots of 25 tonnes each on selling pressure from refiners and funds cutting positions. [ID:nL3E7DO0WM]
The benchmark May crude palm oil futures
REGIONAL EQUITIES-COLOMBO, Feb 25 (Reuters) - Southeast Asian stock markets rallied on Friday but volume was thin and worries about rising oil prices, which could hurt economic growth, meant trading would continue volatile next week, analysts said.
Brent oil traded above $112 a barrel as the revolt in Libya sparked fears of supply shortages, despite assurances by top oil exporter Saudi Arabia that it would step in to fill any shortfall.
Singapore <.FTSTI> gained 1.8 percent and the Philippines <.PSE> edged up 0.2 percent as both markets recovered from a near-six-month low.
Friday, February 25, 2011
Trader's Highlight
DJI-NEW YORK, Feb 24 (Reuters) - Bruised but not bowed, bulls staged a rebound on Thursday and helped stocks stabilize in a volatile session suggesting investors aren't ready to give up on the market's rally.
The S&P 500 recovered off early lows triggered by deepening concerns that higher oil could stifle economic activity. Stocks hit their worst levels when Brent crude neared $120 a barrel on Libya's turmoil.
The Dow Jones industrial average <.DJI> fell 37.28 points, or 0.31 percent, to end at 12,068.50. The Standard & Poor's 500 Index <.SPX> slipped 1.30 points, or 0.10 percent, to finish at 1,306.10. But the Nasdaq Composite Index <.IXIC> rose 14.91 points, or 0.55 percent, to close at 2,737.90.
NYMEX-NEW YORK, Feb 24 (Reuters) - U.S. crude oil futures dropped more than 2 percent in a late sell-off on Thursday on rumors that Libyan strongman Muammar Gaddafi had been shot, wiping out gains in a rally to near 2-1/2-year highs.
Earlier, news that Saudi Arabia was in talks with European companies affected by the disruption of Libyan supplies and was willing and able to plug any gap appeared to have capped the day's highs, traders said.
On the New York Mercantile Exchange, crude for April delivery settled at $97.28 a barrel, down 82 cents, or 0.84 percent, after rallying to $103.41, the highest since Sept. 29, 2008's intraday peak of $106.91. Post-settlement, it fell further to $95.62, down $2.48, or 2.52 percent.
CBOT-CHICAGO, Feb 24 (Reuters) - Chicago Board of Trade grain and soy complex closing trends on Thursday.
CBOT-SOYBEANS - May down 2-1/4 cents at $13.29-1/4 per bushel. Lower on long liquidation amid fears that ongoing turmoil in the Middle East and North Africa could crimp long-term demand for grains. Losses pared by late short-covering.
CBOT-SOYOIL - May down 0.42 cent at 55.28 cents per lb. Following soybeans lower.
FCPO-KUALA LUMPUR, Feb 24 (Reuters) - Palm oil ended off three-month lows on Thursday with other vegetable oil markets limiting losses on surging crude oil although concerns lingered over Libyan unrest spreading and slowing economic growth.
Palm oil hit its lowest since Nov. 29 with much of the selling pressure coming from refiners and funds cutting positions.
Traders said palm oil's high premium to soyoil narrowed to about $10 from $70, which may attract demand from price sensitive India and China -- the world's top two buyers of the vegetable oil.
The benchmark May crude palm oil contract on the Bursa Malaysia Derivatives Exchange dived 5.1 percent to 3,336 ringgit ($1,095) before settling much higher at 3,457 ringgit per tonne. Traded volumes surged to 48,704 lots of 25 tonnes each, more than triple of the usual 15,000 lots seen at the close.
REGIONAL EQUITIES-BANGKOK, Feb 24 (Reuters) - Southeast Asian stock markets fell on Thursday, fretting over the potential impact of the spike in global energy costs on economic growth, with airlines coming under particular pressure but palm oil and bank stocks also hit.
Markets gave up early gains as Brent oil surged more than 7.5 percent to its highest since August 2008.
Other stock markets finished around their day's lows. Singapore's stock index <.FTSTI> lost nearly 1 percent, at one point hitting the lowest in six months, and Malaysia <.KLSE> fell 1.4 percent to the lowest in almost three months. Indonesia <.JKSE> fell 1 percent.
Airline companies pulled back further amid concerns over the rise in fuel costs, led by a 5 percent drop in Malaysia's AirAsia and a 4.6 percent fall in the Philippines' Cebu Air .
In an effort to attract more funds, stock exchanges in Malaysia, the Philippines, Singapore and Thailand are keen to set up trading links between their markets to help liquidity.
Finance Minister Korn Chatikavanij said on Wednesday that liquidity was the key to market success for Thailand and similar small equity markets.
The S&P 500 recovered off early lows triggered by deepening concerns that higher oil could stifle economic activity. Stocks hit their worst levels when Brent crude neared $120 a barrel on Libya's turmoil.
The Dow Jones industrial average <.DJI> fell 37.28 points, or 0.31 percent, to end at 12,068.50. The Standard & Poor's 500 Index <.SPX> slipped 1.30 points, or 0.10 percent, to finish at 1,306.10. But the Nasdaq Composite Index <.IXIC> rose 14.91 points, or 0.55 percent, to close at 2,737.90.
NYMEX-NEW YORK, Feb 24 (Reuters) - U.S. crude oil futures dropped more than 2 percent in a late sell-off on Thursday on rumors that Libyan strongman Muammar Gaddafi had been shot, wiping out gains in a rally to near 2-1/2-year highs.
Earlier, news that Saudi Arabia was in talks with European companies affected by the disruption of Libyan supplies and was willing and able to plug any gap appeared to have capped the day's highs, traders said.
On the New York Mercantile Exchange, crude for April delivery
CBOT-CHICAGO, Feb 24 (Reuters) - Chicago Board of Trade grain and soy complex closing trends on Thursday.
CBOT-SOYBEANS - May
CBOT-SOYOIL - May
FCPO-KUALA LUMPUR, Feb 24 (Reuters) - Palm oil ended off three-month lows on Thursday with other vegetable oil markets limiting losses on surging crude oil although concerns lingered over Libyan unrest spreading and slowing economic growth.
Palm oil hit its lowest since Nov. 29 with much of the selling pressure coming from refiners and funds cutting positions.
Traders said palm oil's high premium to soyoil narrowed to about $10 from $70, which may attract demand from price sensitive India and China -- the world's top two buyers of the vegetable oil.
The benchmark May crude palm oil contract
REGIONAL EQUITIES-BANGKOK, Feb 24 (Reuters) - Southeast Asian stock markets fell on Thursday, fretting over the potential impact of the spike in global energy costs on economic growth, with airlines coming under particular pressure but palm oil and bank stocks also hit.
Markets gave up early gains as Brent oil
Other stock markets finished around their day's lows. Singapore's stock index <.FTSTI> lost nearly 1 percent, at one point hitting the lowest in six months, and Malaysia <.KLSE> fell 1.4 percent to the lowest in almost three months. Indonesia <.JKSE> fell 1 percent.
Airline companies pulled back further amid concerns over the rise in fuel costs, led by a 5 percent drop in Malaysia's AirAsia
In an effort to attract more funds, stock exchanges in Malaysia, the Philippines, Singapore and Thailand are keen to set up trading links between their markets to help liquidity.
Finance Minister Korn Chatikavanij said on Wednesday that liquidity was the key to market success for Thailand and similar small equity markets.
Thursday, February 24, 2011
Breaking News-RTRS - Indonesia keeps March palm oil, cocoa export tax unchanged
JAKARTA, Feb 23 (Reuters) - Indonesia will keep its palm oil and cocoa bean export tax for March unchanged from February at 25 percent and 10 percent respectively, a trade ministry official said on Wednesday, confirming an earlier Reuters report.
The base export price for crude palm oil (CPO), which is used to calculate the export tax in the world's largest producer of the oil, will be set at $1,222 a tonne, up from $1,194 a tonne in February, the official said.
The base export price for crude palm oil (CPO), which is used to calculate the export tax in the world's largest producer of the oil, will be set at $1,222 a tonne, up from $1,194 a tonne in February, the official said.
Trader's Highlight
DJI-NEW YORK, Feb 23 (Reuters) - U.S. stocks dropped for a second straight session on Wednesday as Libya's violence sent oil prices up briefly to $100 a barrel and tech shares sank, adding credence to calls for a market correction.
Oil futures jumped to their highest since October 2008 amid worries about supply disruptions in Libya, a top oil producer. Late in the day, oil eased off the day's highs, helping stocks trim losses.
The day's drop follows a 2.1 percent decline in the S&P 500 on Wednesday, and the second straight session of above-average trading volume. However, since a modest correction is expected, investors at this point are taking the declines in stride.
The Dow Jones industrial average <.DJI> fell 107.01 points, or 0.88 percent, at 12,105.78. The Standard & Poor's 500 Index <.SPX> lost 8.04 points, or 0.61 percent, to 1,307.40. The Nasdaq Composite Index <.IXIC> declined 33.43 points, or 1.21 percent, to 2,722.99.
NYMEX-NEW YORK, Feb 23 (Reuters) - U.S. crude oil futures rose for a second day on Wednesday, touching $100 a barrel briefly and ending at the highest level since October 2008, as escalating violence in Libya disrupted its oil production.
Fears persisted that Libya's unrest could spread to other oil producers in the Middle East and North Africa, further raising oil's geopolitical risk premium, traders said.
The International Energy Agency will rely first of all on OPEC to meet any loss of Libyan oil and would save its emergency stockpiles as a last resort, its executive director said.
On the New York Mercantile Exchange, crude for April delivery, the new front-month contract, settled at $98.10 a barrel, up $2.68, or 2.81 percent, the highest close since Oct. 1, 2008, when prices ended at $98.53. It traded from $95.14 to $100, the highest intraday price since Oct. 2, 2008, when prices hit $100.37.
CBOT-CHICAGO, Feb 23 (Reuters) - Chicago Board of Trade grain and soy complex closing trends on Wednesday.
CBOT-SOYBEANS - March up 22 cents at $13.20 per bushel. Rallied on technical buying, including short-covering, after Tuesday's sell-off left the market oversold.
CBOT-SOYOIL - March up 1.03 cents at 55.02 cents per lb. Spillover support from soybeans and crude oil.
FCPO-KUALA LUMPUR, Feb 23 (Reuters) - Vegetable oil markets tumbled on Wednesday as spreading Libyan unrest spurred investors to flee agriculture assets to the safe haven plays, although traders said the sell-off was a knee-jerk reaction and prices will recover.
Protests have spread to oil-producing Libya and should lift crude oil and other commodity markets but investors are increasingly concerned economic growth in the Middle East will stall and complicate the global recovery.
In the morning session, Malaysian palm oil dived as much as 4.5 percent to a 2-month low before crawling back gains to close at 3,514 ringgit ($1,154.97) per tonne.
China's Dalian soyoil lost 3.7 percent. U.S. soyoil for March rose 0.8percent after tumbling the previous day when the sell-off in agriculture markets started.
REGIONAL EQUITIES-BANGKOK, Feb 23 (Reuters) - Some Southeast Asian stock markets regained lost ground on Wednesday as investors bought oil-related shares after a jump in oil prices, although Singapore slumped further in heavy turnover.
Despite the better trend in places, the unrest in Libya continued to hang over stock markets, since it could further raise global oil prices and slow the recovery in the world economy.
Export-dependent emerging Southeast Asian economies, already plagued by inflationary pressures, would be vulnerable to slower global growth and the uncertainty is keeping some investors on the sidelines, dealers said.
Indonesia's main share index <.JKSE> rose 0.7 percent but Malaysia <.KLSE> ended down 0.2 percent after briefly climbing into positive territory. Both posted relatively weak volume at 0.9 times their 30 day average.
Turnover in the Thai and Singapore markets rose to 1.2 times and 2.5 times their 30-day average respectively. Airline companies extended losses, with Southeast Asia's biggest airline, Singapore Airlines, easing 0.9 percent, Malaysia's AirAsia sliding 2.4 percent and Philippine Cebu Air dropping 5.4 percent.
Oil futures jumped to their highest since October 2008 amid worries about supply disruptions in Libya, a top oil producer. Late in the day, oil eased off the day's highs, helping stocks trim losses.
The day's drop follows a 2.1 percent decline in the S&P 500 on Wednesday, and the second straight session of above-average trading volume. However, since a modest correction is expected, investors at this point are taking the declines in stride.
The Dow Jones industrial average <.DJI> fell 107.01 points, or 0.88 percent, at 12,105.78. The Standard & Poor's 500 Index <.SPX> lost 8.04 points, or 0.61 percent, to 1,307.40. The Nasdaq Composite Index <.IXIC> declined 33.43 points, or 1.21 percent, to 2,722.99.
NYMEX-NEW YORK, Feb 23 (Reuters) - U.S. crude oil futures rose for a second day on Wednesday, touching $100 a barrel briefly and ending at the highest level since October 2008, as escalating violence in Libya disrupted its oil production.
Fears persisted that Libya's unrest could spread to other oil producers in the Middle East and North Africa, further raising oil's geopolitical risk premium, traders said.
The International Energy Agency will rely first of all on OPEC to meet any loss of Libyan oil and would save its emergency stockpiles as a last resort, its executive director said.
On the New York Mercantile Exchange, crude for April delivery
CBOT-CHICAGO, Feb 23 (Reuters) - Chicago Board of Trade grain and soy complex closing trends on Wednesday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Feb 23 (Reuters) - Vegetable oil markets tumbled on Wednesday as spreading Libyan unrest spurred investors to flee agriculture assets to the safe haven plays, although traders said the sell-off was a knee-jerk reaction and prices will recover.
Protests have spread to oil-producing Libya and should lift crude oil
In the morning session, Malaysian palm oil
China's Dalian soyoil
REGIONAL EQUITIES-BANGKOK, Feb 23 (Reuters) - Some Southeast Asian stock markets regained lost ground on Wednesday as investors bought oil-related shares after a jump in oil prices, although Singapore slumped further in heavy turnover.
Despite the better trend in places, the unrest in Libya continued to hang over stock markets, since it could further raise global oil prices and slow the recovery in the world economy.
Export-dependent emerging Southeast Asian economies, already plagued by inflationary pressures, would be vulnerable to slower global growth and the uncertainty is keeping some investors on the sidelines, dealers said.
Indonesia's main share index <.JKSE> rose 0.7 percent but Malaysia <.KLSE> ended down 0.2 percent after briefly climbing into positive territory. Both posted relatively weak volume at 0.9 times their 30 day average.
Turnover in the Thai and Singapore markets rose to 1.2 times and 2.5 times their 30-day average respectively. Airline companies extended losses, with Southeast Asia's biggest airline, Singapore Airlines
Wednesday, February 23, 2011
Trader's Highlight
DJI-NEW YORK, Feb 22 (Reuters) - Wall Street suffered its worst day since August on Tuesday as investors dumped stocks on turmoil in oil exporter Libya, in what could be the start of a long-anticipated pullback after a lengthy rally.
Rising volatility and heavy volume added heft to the possibility of a larger pullback. With 9.76 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, it was the highest volume session for the month and the second-highest for the year.
The CBOE Volatility Index <.VIX>, Wall Street's so-called fear gauge, surged 26.6 percent to end at 20.80, its highest one-day jump since May 20, 2010.
The Dow Jones industrial average <.DJI> lost 178.46 points, or 1.44 percent, to end at 12,212.79. The Standard & Poor's 500 Index <.SPX> fell 27.57 points, or 2.05 percent, to 1,315.44. The Nasdaq Composite Index <.IXIC> dropped 77.53 points, or 2.74 percent, to 2,756.42.
NYMEX-NEW YORK, Feb 22 (Reuters) - U.S. crude oil futures jumped to their highest level in almost 2-1/2 years on Tuesday as the citizen revolt against long-time Libyan leader Muammar Gaddafi escalated.
Fighting in Libya, the latest flashpoint in the spreading turmoil in the Middle East and North Africa, added to investor worries that oil supplies from those regions may be disrupted.
Libya's oil terminals were blocked while Italy, heavily reliant on energy imports, said it was ready to tap emergency gas stocks if Libyan supplies are interrupted.
On the New York Mercantile Exchange, crude for March delivery was up $6.61, or 7.67 percent, at $92.81 a barrel, after surging to a session high of $94.49, the highest since prices hit $96.03 on Oct. 3, 2008. It posted its early low at $86.25.
CBOT-CHICAGO, Feb 22 (Reuters) - Chicago Board of Trade grain and soy complex closing trends on Tuesday.
CBOT-SOYBEANS - March down 70 cents at $12.98 per bushel.Investors liquidate amid political turmoil in Libya, with prices falling to lowest since Dec. 20, 2010. Expectations for big acreage forecasts also weigh.
CBOT-SOYOIL - March down 2.50 cents at 53.99 cents per lb.Pressure from falling soybeans overwhelms support from soaring crude oil.
FCPO-KUALA LUMPUR, Feb 22 (Reuters) - Malaysian palm oil rose 0.4 percent on Tuesday with traders taking positions on Libyan unrest that boosted most commodity markets, but the upside was capped by concerns of slower demand.
Palm oil futures treaded water after hitting a four-week low on Monday as traders looked for signs that the recent rally in prices may dampen demand.
But if unrest continues in Libya, which is a key oil producer, U.S. crude could rally further, pulling along prices of palm oil used as a feedstock in biofuels that competes with petroleum diesel.
The benchmark May 2011 palm oil futures on the Bursa Malaysia Derivatives Exchange rose 13 ringgit to 3,669 ringgit ($1,209) in choppy trade. Overall trade almost doubled to 29,573 lots at 25 tonnes each from the usual 15,000 lots.
REGIONAL EQUITIES-BANGKOK, Feb 22 (Reuters) - Southeast Asian stock markets tumbled on Tuesday as unrest in Libya stoked worries about rising global oil prices and the potential hit to sectors such as airlines.
U.S. crude futures surged to a 2-1/2-year high, hurting confidence among emerging market investors.
Singapore's Straits Times Index <.FTSTI> suffered its biggest loss in three months, falling 1.7 percent, while the Philippine index <.PSI> dropped 1.4 percent and Vietnam <.VNI> hit its lowest level in more than two months.
Singapore-based Najeeb Jarhom, head of research at AmFraser Securities, said the Straits Times Index could now test 2,900 after a fast drop towards the psychological level of 3,000. It closed at 3,019.12 on Tuesday. Malaysia, Thaland and Indonesia reported a drop in turnover to around 0.8 times the 30-day average.
Rising volatility and heavy volume added heft to the possibility of a larger pullback. With 9.76 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, it was the highest volume session for the month and the second-highest for the year.
The CBOE Volatility Index <.VIX>, Wall Street's so-called fear gauge, surged 26.6 percent to end at 20.80, its highest one-day jump since May 20, 2010.
The Dow Jones industrial average <.DJI> lost 178.46 points, or 1.44 percent, to end at 12,212.79. The Standard & Poor's 500 Index <.SPX> fell 27.57 points, or 2.05 percent, to 1,315.44. The Nasdaq Composite Index <.IXIC> dropped 77.53 points, or 2.74 percent, to 2,756.42.
NYMEX-NEW YORK, Feb 22 (Reuters) - U.S. crude oil futures jumped to their highest level in almost 2-1/2 years on Tuesday as the citizen revolt against long-time Libyan leader Muammar Gaddafi escalated.
Fighting in Libya, the latest flashpoint in the spreading turmoil in the Middle East and North Africa, added to investor worries that oil supplies from those regions may be disrupted.
Libya's oil terminals were blocked while Italy, heavily reliant on energy imports, said it was ready to tap emergency gas stocks if Libyan supplies are interrupted.
On the New York Mercantile Exchange, crude for March delivery
CBOT-CHICAGO, Feb 22 (Reuters) - Chicago Board of Trade grain and soy complex closing trends on Tuesday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Feb 22 (Reuters) - Malaysian palm oil rose 0.4 percent on Tuesday with traders taking positions on Libyan unrest that boosted most commodity markets, but the upside was capped by concerns of slower demand.
Palm oil futures treaded water after hitting a four-week low on Monday as traders looked for signs that the recent rally in prices may dampen demand.
But if unrest continues in Libya, which is a key oil producer, U.S. crude could rally further, pulling along prices of palm oil used as a feedstock in biofuels that competes with petroleum diesel.
The benchmark May 2011 palm oil futures
REGIONAL EQUITIES-BANGKOK, Feb 22 (Reuters) - Southeast Asian stock markets tumbled on Tuesday as unrest in Libya stoked worries about rising global oil prices and the potential hit to sectors such as airlines.
U.S. crude futures surged to a 2-1/2-year high, hurting confidence among emerging market investors.
Singapore's Straits Times Index <.FTSTI> suffered its biggest loss in three months, falling 1.7 percent, while the Philippine index <.PSI> dropped 1.4 percent and Vietnam <.VNI> hit its lowest level in more than two months.
Singapore-based Najeeb Jarhom, head of research at AmFraser Securities, said the Straits Times Index could now test 2,900 after a fast drop towards the psychological level of 3,000. It closed at 3,019.12 on Tuesday. Malaysia, Thaland and Indonesia reported a drop in turnover to around 0.8 times the 30-day average.
Tuesday, February 22, 2011
Trader's Highlight
NYMEX-SINGAPORE, Feb 21 (Reuters) - U.S. crude futures rose more than $1/bbl on Monday as the threat of supply disruptions from OPEC member Libya grew as unrest in the country intensified, with protesters calling for the departure of veteran ruler Muammar Gaddafi.
The leader of the Al-Zuwayya tribe in eastern-Libya threatened on Sunday to cut oil exports to Western countries within 24-hours unless authorities stopped the "oppression of protesters".
On the New York Mercantile Exchange, March crude rose to $87.37, up $1.17 by 2347 GMT, after settling at $86.20 in the previous session.
FCPO-KUALA LUMPUR, Feb 21 (Reuters) - Malaysian palm oil futures fell to a one-month low on Monday, on concerns demand from China may slow after the government moved to drain cash from the economy and rein in inflation.
Palm oil followed last Friday's declines in the U.S. soy complex when China raised its required reserves for big banks to record levels.
Weaker Malaysian exports worsened the declines but shipments to China doubled in Feb. 1-25, signalling some restocking demand after Lunar New Year holidays earlier this month.
The benchmark May crude palm oil contract fell 0.7 percent to 3,656 ringgit ($1,205.010) per tonne after touching its lowest level since January 18 at 3,621 ringgit. Overall traded volume more than tripled to 25,633 lots of 25 tonnes each from the usual 15,000 lots.
REGIONAL EQUITIES-BANGKOK, Feb 21 (Reuters) - Most Southeast Asian stock markets fell on Monday as spreading tension in Libya and other oil-producing countries put a lid on risk appetite, but investors selectively bought banks due to optimism over loan growth.
Market turnover remained weak, with volume in Malaysia and Thailand falling to around 0.8 times the 30-day average.
Singapore's main index <.FTSTI> ended down 0.5 percent in a range-bound session, similar to others in the region. Indonesia <.JKSE> inched down 0.1 percent and the Philippines <.PSI> 0.4 percent.
Thai stocks <.SETI> were flat, but Malaysia <.KLSE> rose 0.6 percent, led by a 3.1 percent gain in the biggest lender by assets, Malayan Banking, after stong quarterly net profit.
Generally, earnings plays were prominent in the region. Singapore's Oversea-Chinese Banking Corp fell almost 1 percent to S$9.32, with broker UOB Kay Hian lowering its target price to S$11.80 from S$11.96 after the bank missed market forecasts for its quarterly profit.
The leader of the Al-Zuwayya tribe in eastern-Libya threatened on Sunday to cut oil exports to Western countries within 24-hours unless authorities stopped the "oppression of protesters".
On the New York Mercantile Exchange, March crude
FCPO-KUALA LUMPUR, Feb 21 (Reuters) - Malaysian palm oil futures fell to a one-month low on Monday, on concerns demand from China may slow after the government moved to drain cash from the economy and rein in inflation.
Palm oil followed last Friday's declines in the U.S. soy complex when China raised its required reserves for big banks to record levels.
Weaker Malaysian exports worsened the declines but shipments to China doubled in Feb. 1-25, signalling some restocking demand after Lunar New Year holidays earlier this month.
The benchmark May crude palm oil contract
REGIONAL EQUITIES-BANGKOK, Feb 21 (Reuters) - Most Southeast Asian stock markets fell on Monday as spreading tension in Libya and other oil-producing countries put a lid on risk appetite, but investors selectively bought banks due to optimism over loan growth.
Market turnover remained weak, with volume in Malaysia and Thailand falling to around 0.8 times the 30-day average.
Singapore's main index <.FTSTI> ended down 0.5 percent in a range-bound session, similar to others in the region. Indonesia <.JKSE> inched down 0.1 percent and the Philippines <.PSI> 0.4 percent.
Thai stocks <.SETI> were flat, but Malaysia <.KLSE> rose 0.6 percent, led by a 3.1 percent gain in the biggest lender by assets, Malayan Banking
Generally, earnings plays were prominent in the region. Singapore's Oversea-Chinese Banking Corp
Monday, February 21, 2011
Trader's Highlight
DJI-NEW YORK, Feb 18 (Reuters) - Late arrivals to the speediest rally in stocks since the Great Depression pushed stocks higher for a third week on Friday, despite growing signals of an overheating market.
More than $8 billion flowed into U.S. equity funds for the week ended Feb. 16, according to Thomson Reuters Lipper data. Analysts said investors appear reluctant to sell despite slack volume and a narrowing spread between winners and losers.
On Friday the Dow Jones industrial average <.DJI> gained 73.11 points, or 0.59 percent, to 12,391.25. The Standard & Poor's 500 Index <.SPX> added 2.58 points, or 0.19 percent, to 1,343.01. The Nasdaq Composite Index <.IXIC> edged up 2.37 points, or 0.08 percent, to 2,833.95.
NYMEX-NEW YORK, Feb 18 (Reuters) - U.S. crude oil futures ended lower in volatile trading on Friday in a bout of profit-taking and position-squaring ahead of a three-day holiday weekend.
Late liquidations ahead of NYMEX front-month March crude's expiration on Tuesday snuffed out gains spurred by pre-weekend short-covering.
But persistent worries that the unrest in Middle East and North Africa could disrupt oil supplies from those regions kept investors cautious and helped limit the day's losses.
On the New York Mercantile Exchange, crude for March delivery settled at $86.20 a barrel, down 16 cents, or 0.19 percent, after trading from $85.65 to $87.8.
CBOT-CHICAGO, Feb 18 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Friday.
CBOT-SOYBEANS - March down 36-1/2 cents at $13.68 per bushel. Options-related selling and pressured by China's move to raise bank reserve requirements and advance of South American soy harvest leading to shifts of business from the U.S. to South America.
CBOT-SOYOIL - March down 1.76 cents at 56.49 cents per lb. Following soybeans and on talk China bought three cargoes of soyoil from Argentina.
FCPO-JAKARTA, Feb 18 (Reuters) - Malaysian palm oil futures fell on Friday, reversing earlier gains as they took direction largely from other oil markets and possible food import tax changes in China.
The benchmark May 2011 crude palm oil contract on Bursa Malaysia Derivatives fell 1 percent to 3,683 Malaysian ringgit ($1,209) a tonne after touching a low at 3,660 ringgit. Overall, traded volume stood at 17,870 lots of 25 tonnes each, compared with a total of 20,321 lots on Thursday.
On Feb. 10, palm oil prices touched 3,967 ringgit, a peak not seen since March 2008, on concerns that seasonally heavy rains had stalled harvesting in top producers Indonesia and Malaysia.
Prices this week have fallen around 7 percent in volatile trading, on worries that prices had overrun the bullish fundamentals and as some investors closed their positions. The benchmark notched its biggest weekly loss since August 2010.
REGIONAL EQUITIES-COLOMBO, Feb 18 (Reuters) - Most Southeast Asian stock markets gained on Friday led by Indonesia with net foreign inflows as investors bought beaten-down shares as they shrugged off worry about inflation.
Most of the stock markets in the region gained this week, erasing losses since the beginning of the year. Analysts said foreign inflows had improved in the region this week as investors were starting to find good value again in Southeast Asia.
Indonesia <.JKSE> rose 2 percent to a 3-week high led by banks, extending a gain for the week to 3.2 percent as investors bought battered shares amid hope of low inflation. Singapore saw a higher trading with the day's volume 1.5 percent of its 30-day daily average, while Indonesia's volume was 1.2 percent higher than its 30-day average.
More than $8 billion flowed into U.S. equity funds for the week ended Feb. 16, according to Thomson Reuters Lipper data. Analysts said investors appear reluctant to sell despite slack volume and a narrowing spread between winners and losers.
On Friday the Dow Jones industrial average <.DJI> gained 73.11 points, or 0.59 percent, to 12,391.25. The Standard & Poor's 500 Index <.SPX> added 2.58 points, or 0.19 percent, to 1,343.01. The Nasdaq Composite Index <.IXIC> edged up 2.37 points, or 0.08 percent, to 2,833.95.
NYMEX-NEW YORK, Feb 18 (Reuters) - U.S. crude oil futures ended lower in volatile trading on Friday in a bout of profit-taking and position-squaring ahead of a three-day holiday weekend.
Late liquidations ahead of NYMEX front-month March crude's
But persistent worries that the unrest in Middle East and North Africa could disrupt oil supplies from those regions kept investors cautious and helped limit the day's losses.
On the New York Mercantile Exchange, crude for March delivery
CBOT-CHICAGO, Feb 18 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Friday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-JAKARTA, Feb 18 (Reuters) - Malaysian palm oil futures fell on Friday, reversing earlier gains as they took direction largely from other oil markets and possible food import tax changes in China.
The benchmark May 2011 crude palm oil contract
On Feb. 10, palm oil prices touched 3,967 ringgit, a peak not seen since March 2008, on concerns that seasonally heavy rains had stalled harvesting in top producers Indonesia and Malaysia.
Prices this week have fallen around 7 percent in volatile trading, on worries that prices had overrun the bullish fundamentals and as some investors closed their positions. The benchmark notched its biggest weekly loss since August 2010.
REGIONAL EQUITIES-COLOMBO, Feb 18 (Reuters) - Most Southeast Asian stock markets gained on Friday led by Indonesia with net foreign inflows as investors bought beaten-down shares as they shrugged off worry about inflation.
Most of the stock markets in the region gained this week, erasing losses since the beginning of the year. Analysts said foreign inflows had improved in the region this week as investors were starting to find good value again in Southeast Asia.
Indonesia <.JKSE> rose 2 percent to a 3-week high led by banks, extending a gain for the week to 3.2 percent as investors bought battered shares amid hope of low inflation. Singapore saw a higher trading with the day's volume 1.5 percent of its 30-day daily average, while Indonesia's volume was 1.2 percent higher than its 30-day average.
Friday, February 18, 2011
Trader's Highlight
DJI-NEW YORK, Feb 17 (Reuters) - U.S. investors piled on a dizzying two-year advance in stocks on Thursday, using a brief slip on negative economic news as an opportunity to buy into market leaders.
The technology sector showed strength, with Nvidia Corp up 9.8 percent to $25.68 a day after posting a bullish revenue forecast on accelerating sales of its processors.
The Dow Jones industrial average <.DJI> gained 29.97 points, or 0.24 percent, to 12,318.14. The Standard & Poor's 500 Index <.SPX> rose 4.11 points, or 0.31 percent, to 1,340.43. The Nasdaq Composite Index <.IXIC> added 6.02 points, or 0.21 percent, to 2,831.58.
NYMEX-NEW YORK, Feb 17 (Reuters) - U.S. crude oil futures rose
for a second day on Thursday as fears grew that escalating citizen protests could engulf oil producers in the Middle East and cause supply disruptions.
Unrest spread across the Middle East and North Africa as Bahrain's military cracked down on anti-government protestors and clashes were reported in Libya and Yemen.
On the New York Mercantile Exchange, crude for March delivery settled up $1.37, or 1.61 percent, at $86.36 a barrel, after trading from $84.38 to $86.50.
CBOT-CHICAGO, Feb 17 (Reuters) - Chicago Board of Trade grain and soy complex close on Thursday.
CBOT-SOYBEANS - March up 38-1/2 cents at $14.04-1/2 per bushel. Snaps five-day losing streak on China import tax news, technical short covering. Prices rally back above 50-day moving average.
CBOT-SOYOIL - March up 1.64 cents at 58.25 cents per lb. Following soybeans. Firm crude oil also supports soyoil prices.
FCPO-JAKARTA, Feb 17 (Reuters) - Malaysian palm oil futures dropped to a fresh three-week low Thursday as traders grew concerned that a possible cut in taxes for a range of imported goods by China may not benefit the vegetable oil.
The benchmark May 2011 crude palm oil contract on Bursa Malaysia Derivatives fell 0.5 percent to 3,725 Malaysian ringgit ($1,223) a tonne after going as low as 3,648 ringgit -- a level unseen since Jan. 26.
Malaysian and Singaporean traders dealing with China say Beijing may reduce import duties for soybean oil to 5 percent from 9 percent and cut soybean import taxes to 1 percent from 3 percent while keeping palm oil duties at 9 percent.
Cutting soy import duties will set the stage for more orders of the oilseed and limit palm oil shipments to the world's largest food shopper.
REGIONAL EQUITIES-BANGKOK, Feb 17 (Reuters) - Most Southeast Asian stock markets gained on Thursday as high global oil prices lifted energy-related stocks, but concerns over tighter monetary policy squeezed Singapore's banks.
Several beaten-down markets, including Thailand and Indonesia, saw a return of foreign funds after recent sell-offs, sending Thai SET index <.SETI> to its highest in almost four weeks and Indonesia <.JKSE> to near a one-week high.
A shift in global asset allocation has funneled money in recent weeks to developed equities markets, drawn by relatively attractive valuations. But dealers said investors were starting to find good value again in Southeast Asia.
Turnover of Singapore was relatively active of 1.2 times its 30-day average. Singapore shares pulled back amid concerns about rising interest rates hurting bank stocks.
Singapore earlier on Thursday revised downward its GDP growth for 2010 and warned that inflation will be higher than previously forecast, raising expectations of further monetary policy tightening.
The technology sector showed strength, with Nvidia Corp
The Dow Jones industrial average <.DJI> gained 29.97 points, or 0.24 percent, to 12,318.14. The Standard & Poor's 500 Index <.SPX> rose 4.11 points, or 0.31 percent, to 1,340.43. The Nasdaq Composite Index <.IXIC> added 6.02 points, or 0.21 percent, to 2,831.58.
NYMEX-NEW YORK, Feb 17 (Reuters) - U.S. crude oil futures rose
for a second day on Thursday as fears grew that escalating citizen protests could engulf oil producers in the Middle East and cause supply disruptions.
Unrest spread across the Middle East and North Africa as Bahrain's military cracked down on anti-government protestors and clashes were reported in Libya and Yemen.
On the New York Mercantile Exchange, crude for March delivery
CBOT-CHICAGO, Feb 17 (Reuters) - Chicago Board of Trade grain and soy complex close on Thursday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-JAKARTA, Feb 17 (Reuters) - Malaysian palm oil futures dropped to a fresh three-week low Thursday as traders grew concerned that a possible cut in taxes for a range of imported goods by China may not benefit the vegetable oil.
The benchmark May 2011 crude palm oil contract
Malaysian and Singaporean traders dealing with China say Beijing may reduce import duties for soybean oil to 5 percent from 9 percent and cut soybean import taxes to 1 percent from 3 percent while keeping palm oil duties at 9 percent.
Cutting soy import duties will set the stage for more orders of the oilseed and limit palm oil shipments to the world's largest food shopper.
REGIONAL EQUITIES-BANGKOK, Feb 17 (Reuters) - Most Southeast Asian stock markets gained on Thursday as high global oil prices lifted energy-related stocks, but concerns over tighter monetary policy squeezed Singapore's banks.
Several beaten-down markets, including Thailand and Indonesia, saw a return of foreign funds after recent sell-offs, sending Thai SET index <.SETI> to its highest in almost four weeks and Indonesia <.JKSE> to near a one-week high.
A shift in global asset allocation has funneled money in recent weeks to developed equities markets, drawn by relatively attractive valuations. But dealers said investors were starting to find good value again in Southeast Asia.
Turnover of Singapore was relatively active of 1.2 times its 30-day average. Singapore shares pulled back amid concerns about rising interest rates hurting bank stocks.
Singapore earlier on Thursday revised downward its GDP growth for 2010 and warned that inflation will be higher than previously forecast, raising expectations of further monetary policy tightening.
Thursday, February 17, 2011
Trader's Highlight
DJI-NEW YORK, Feb 16 (Reuters) - The S&P 500 rose on Wednesday to twice its value from just two years ago, a bounce whose vigor has not been seen since the Great Depression.
Stocks were boosted by Dell earnings and deal announcements fueling hope for more gains, but light volume makes the recent move more tenuous. The market overcame concerns about tensions between Israel and Iran, and indexes slowly climbed back to close near the session's high.
The Dow Jones industrial average <.DJI> gained 61.53 points, or 0.50 percent, to 12,288.17. The Standard & Poor's 500 Index <.SPX> rose 8.31 points, or 0.63 percent, to 1,336.32. The Nasdaq Composite Index <.IXIC> added 21.21 points, or 0.76 percent, to 2,825.56.
NYMEX-NEW YORK, Feb 16 (Reuters) - U.S. crude futures settled higher on Wednesday as fresh tensions between Israel and Iran added to concerns about Middle East unrest that already had markets on edge.
Trading was volatile after Israel's foreign minister said Iran planned to send two Iranian warships through the Suez Canal en route to Syria, rattling markets already eyeing Egyptian-style protests spreading to Libya and other countries in North Africa and the Middle East.
On the New York Mercantile Exchange, March crude rose 67 cents, or 0.79 percent, to settle at $84.99 a barrel, having traded from $84.12 to $85.95.
CBOT-CHICAGO, Feb 16 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.
CBOT-SOYBEANS - March down 2 cents at $13.66 per bushel. Pressured by fund long-liquidation but soy closed above
the day's lows on late short-covering and bargain buying.
CBOT-SOYOIL - March up 0.07 cent at 56.61 cents per lb. Support from gains in crude oil.
FCPO-JAKARTA, Feb 16 (Reuters) - Malaysian palm oil futures fell more than 3 percent on Wednesday, tracking many commodity prices lower, as traders said many opted to book profits as the vegetable oil had overrun its positive fundamentals in recent weeks.
Investors, also wary of funds liquidating positions in other commodity markets, maintained the bullish near-term outlook for palm oil, with falling output and rising demand seen supporting prices in the coming weeks.
The benchmark May 2011 crude palm oil contract on Bursa Malaysia Derivatives fell 3.6 percent to 3,745 Malaysian ringgit ($1,226) a tonne after going as low as 3,741 ringgit -- a level unseen since Jan. 31. Overall traded volume stood at 14,551 lots of 25 tonnes each, compared with a total of 11,265 lots on Monday.
REGIONAL EQUITIES-BANGKOK, Feb 16 (Reuters) - Most Southeast Asian stock markets rose in choppy sessions on Wednesday as investors sought bargains from energy and resource shares to capitalise on a strong global oil market.
Turnover was generally weak, with the impact of rising inflation on corporate profits looming large. Indonesia saw market turnover falling to 0.6 times its 30-day average, with Thailand and Malaysia each dropping to around 0.8 times.
Other sharemarkets reversed early losses, with Singapore's Straits Times Index <.FTSTI> ending up 0.46 percent. Malaysia <.KLSE> and Indonesia stocks <.JKSE> both finished flat.
Kuala Lumpur added $55 million in outflows to $640 million over the past six sessions while Bangkok had a combined $270 million inflows for three sessions to Wednesday.
Stocks were boosted by Dell earnings and deal announcements fueling hope for more gains, but light volume makes the recent move more tenuous. The market overcame concerns about tensions between Israel and Iran, and indexes slowly climbed back to close near the session's high.
The Dow Jones industrial average <.DJI> gained 61.53 points, or 0.50 percent, to 12,288.17. The Standard & Poor's 500 Index <.SPX> rose 8.31 points, or 0.63 percent, to 1,336.32. The Nasdaq Composite Index <.IXIC> added 21.21 points, or 0.76 percent, to 2,825.56.
NYMEX-NEW YORK, Feb 16 (Reuters) - U.S. crude futures settled higher on Wednesday as fresh tensions between Israel and Iran added to concerns about Middle East unrest that already had markets on edge.
Trading was volatile after Israel's foreign minister said Iran planned to send two Iranian warships through the Suez Canal en route to Syria, rattling markets already eyeing Egyptian-style protests spreading to Libya and other countries in North Africa and the Middle East.
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO, Feb 16 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.
CBOT-SOYBEANS - March
the day's lows on late short-covering and bargain buying.
CBOT-SOYOIL - March
FCPO-JAKARTA, Feb 16 (Reuters) - Malaysian palm oil futures fell more than 3 percent on Wednesday, tracking many commodity prices lower, as traders said many opted to book profits as the vegetable oil had overrun its positive fundamentals in recent weeks.
Investors, also wary of funds liquidating positions in other commodity markets, maintained the bullish near-term outlook for palm oil, with falling output and rising demand seen supporting prices in the coming weeks.
The benchmark May 2011 crude palm oil contract
REGIONAL EQUITIES-BANGKOK, Feb 16 (Reuters) - Most Southeast Asian stock markets rose in choppy sessions on Wednesday as investors sought bargains from energy and resource shares to capitalise on a strong global oil market.
Turnover was generally weak, with the impact of rising inflation on corporate profits looming large. Indonesia saw market turnover falling to 0.6 times its 30-day average, with Thailand and Malaysia each dropping to around 0.8 times.
Other sharemarkets reversed early losses, with Singapore's Straits Times Index <.FTSTI> ending up 0.46 percent. Malaysia <.KLSE> and Indonesia stocks <.JKSE> both finished flat.
Kuala Lumpur added $55 million in outflows to $640 million over the past six sessions while Bangkok had a combined $270 million inflows for three sessions to Wednesday.
Wednesday, February 16, 2011
Breaking News-RTRS - Malaysia Feb palm oil output to stay low-Oil World
HAMBURG, Feb 15 (Reuters) - February palm oil output in key producer Malaysia is likely to remain low following a sharp fall in January production, helping transfer global demand to soyoil, Hamburg-based oilseeds analysts Oil World said on Tuesday.
Trader's Highlight
DJI-NEW YORK, Feb 15 (Reuters) - Market breadth weakened and a prominent investor retreated from bullish positions as a vulnerable U.S. stock market slipped off 2-1/2-year highs on Tuesday.
Energy and basic materials stocks led the slide in the S&P 500's worst day since Jan. 28, and billionaire investor Ken Fisher told Reuters he is "more neutral on stocks than I've been in years."
The Dow Jones industrial average <.DJI> lost 41.55 points, or 0.34 percent, at 12,226.64. The Standard & Poor's 500 Index <.SPX> fell 4.31 points, or 0.32 percent, at 1,328.01. The Nasdaq Composite Index <.IXIC> slipped 12.83 points, or 0.46 percent, at 2,804.35.
NYMEX-NEW YORK, Feb 15 (Reuters) - U.S. crude oil futures ended lower for a third session on Tuesday, tracking equities, which fell as a smaller-than-expected rise in retail sales last month raised worries about the strength of the economic recovery.
The dollar rebounded from its early lows, keeping crude down. That overshadowed earlier news showing that inflation was lower than expected in China, and continuing worries about spreading unrest in the Middle East.
On the New York Mercantile Exchange, March crude settled down 49 cents, or 0.58 percent, at $84.32 a barrel, the lowest close since Nov. 30, 2010, when front-month crude closed at $84.11. It traded from $83.85 to $85.97.
CBOT-CHICAGO, Feb 15 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.
CBOT-SOYBEANS - March down 34-3/4 cents at $13.68 per bushel. New-crop November down 32-3/4 at $13.32-3/4. A seasonal shift of export business to South America, news of a cancellation of an export sale of U.S. soy, fund long-liquidation and spillover pressure from the release by USDA on Monday of a larger U.S. soy acreage this year than expected combine to weigh on soybean futures.
CBOT-SOYOIL - March down 1.15 cent at 56.54 cents per lb. Spillover pressure from decline in soy.
FCPO-JAKARTA, Feb 14 (Reuters) - Malaysian palm oil futures dropped as much as 1 percent on Monday, with trading range-bound as investors booked profits ahead of eagerly anticipated export data due later this week.
The benchmark April 2011 crude palm oil contract on Bursa Malaysia Derivatives fell 0.6 percent to 3,933 Malaysian ringgit ($1,288) a tonne. Overall, traded volume stood at 11,265 lots of 25 tonnes each, compared with a total of 11,568lots on Friday.
REGIONAL EQUITIES-BANGKOK, Feb 15 (Reuters) - Most Southeast Asian stock markets pulled back on Tuesday as China's closely watched inflation data failed to allay concerns over price pressures in emerging markets, but loan growth optimism lifted banks.
Inflation concerns plagued regional sentiment and kept investors cautious over the outlook of corporate profits. Turnover of Thai stocks <.SETI> fell to 0.86 times their 30-day average, similar to Vietnam's <.VNI> 0.85 times.
Singapore's Straits Times Index <.FTSTI> dropped 0.8 percent, in relatively active volume of 1.36 times its 30-day average. Philippines <.PSI> eased 0.2 percent.
Indonesia and Malaysia were shut for a market holiday and trading will resume on Wednesday. Asian stocks were broadly steady on Tuesday after traders took China's inflation data in stride.
Palm oil shares were among weak spots, with Malaysian palm oil futures dropping as much as 1 percent on Monday, with Singapore-listed Noble Group sliding 2.8 percent and Bangkok-listed Sri Trang Agro down 4.2 percent.
Energy and basic materials stocks led the slide in the S&P 500's worst day since Jan. 28, and billionaire investor Ken Fisher told Reuters he is "more neutral on stocks than I've been in years."
The Dow Jones industrial average <.DJI> lost 41.55 points, or 0.34 percent, at 12,226.64. The Standard & Poor's 500 Index <.SPX> fell 4.31 points, or 0.32 percent, at 1,328.01. The Nasdaq Composite Index <.IXIC> slipped 12.83 points, or 0.46 percent, at 2,804.35.
NYMEX-NEW YORK, Feb 15 (Reuters) - U.S. crude oil futures ended lower for a third session on Tuesday, tracking equities, which fell as a smaller-than-expected rise in retail sales last month raised worries about the strength of the economic recovery.
The dollar rebounded from its early lows, keeping crude down. That overshadowed earlier news showing that inflation was lower than expected in China, and continuing worries about spreading unrest in the Middle East.
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO, Feb 15 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-JAKARTA, Feb 14 (Reuters) - Malaysian palm oil futures dropped as much as 1 percent on Monday, with trading range-bound as investors booked profits ahead of eagerly anticipated export data due later this week.
The benchmark April 2011 crude palm oil contract
REGIONAL EQUITIES-BANGKOK, Feb 15 (Reuters) - Most Southeast Asian stock markets pulled back on Tuesday as China's closely watched inflation data failed to allay concerns over price pressures in emerging markets, but loan growth optimism lifted banks.
Inflation concerns plagued regional sentiment and kept investors cautious over the outlook of corporate profits. Turnover of Thai stocks <.SETI> fell to 0.86 times their 30-day average, similar to Vietnam's <.VNI> 0.85 times.
Singapore's Straits Times Index <.FTSTI> dropped 0.8 percent, in relatively active volume of 1.36 times its 30-day average. Philippines <.PSI> eased 0.2 percent.
Indonesia and Malaysia were shut for a market holiday and trading will resume on Wednesday. Asian stocks were broadly steady on Tuesday after traders took China's inflation data in stride.
Palm oil shares were among weak spots, with Malaysian palm oil futures dropping as much as 1 percent on Monday, with Singapore-listed Noble Group
Monday, February 14, 2011
Breaking News-RTRS - Asia oils-China restocks with palm oil after Lunar Year holidays
KUALA LUMPUR, Feb 11 (Reuters) - China, the world's No.2 vegetable oil buyer, is seeking nearby palm oil shipments to replenish stocks after the Lunar New Year holiday although the pace of orders will be slower due to the recent price rally.
China's domestic refined palm olein used in cooking oil is selling at around 10,300 yuan ($1,563)a tonne with import prices for the spot month standing at a much higher 10,800 yuan, potentially limiting the size of purchases, traders said.
Benchmark Malaysia palm oil futures have hit successive three-year highs on strong export demand, particularly from China and concerns of a further stock draw.
China's domestic refined palm olein used in cooking oil is selling at around 10,300 yuan ($1,563)a tonne with import prices for the spot month standing at a much higher 10,800 yuan, potentially limiting the size of purchases, traders said.
Benchmark Malaysia palm oil futures
Trader's Highlight
DJI-NEW YORK, Feb 11 (Reuters) - U.S. stocks closed out their second straight week of gains on Friday with a rally sparked after Egyptian President Hosni Mubarak resigned, easing tension around the region for now.
The S&P's five-month surge, which has taken it up almost 27 percent, has confounded those calling for a correction, but weak volume recently has been undercutting the unfailingly bullish direction in equities. Only 7.7 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, below last year's daily average of 8.47 billion.
The Dow Jones industrial average <.DJI> was up 43.97 points, or 0.36 percent, at 12,273.26. The Standard & Poor's 500 Index <.SPX> was up 7.28 points, or 0.55 percent, at 1,329.15. The Nasdaq Composite Index <.IXIC> was up 18.99 points, or 0.68percent, at 2,809.44.
NYMEX-NEW YORK, Feb 11 (Reuters) - U.S. crude oil futures ended at their lowest level in 10 weeks on Friday after Egypt's President Hosni Mubarak's resignation eased worries about potential disruption of oil supplies along the Suez Canal and a strategic pipeline.
The dollar rose against the euro, after a brief dip on the news, helping pressure oil prices.
On the New York Mercantile Exchange, March crude settled at $85.58, down $1.15, or 1.33 percent, the lowest close for a front-month contract since Nov. 30's settlement at $84.11. It traded from from $85.10 to $87.77.
CBOT-CHICAGO, Feb 11 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.
CBOT-SOYBEANS - March down 17 cents at $14.16 per bushel. Pressure from a seasonal shift in export business to South America and a firm U.S. dollar, traders said.
CBOT-SOYOIL - March down 0.55 cent at 58.49 cents per lb. Weighed down by falling soybeans.
FCPO-KUALA LUMPUR, Feb 11 (Reuters) - Malaysian palm oil futures rose 0.7 percent on Friday on concerns that earlier floods and rains could further weaken yields at a time of strong demand despite prices logging their weakest weekly gain in two weeks.
Traders expect continued tightening in vegetable oil supplies on strong export demand from China and a possible shift in U.S. farming acreage this year to more lucrative corn from soybeans, an oilseed crushed into competing soyoil.
The benchmark April crude palm oil contract on the Bursa Malaysia Derivatives Exchange rose 29 ringgit to 3,955 ringgit ($1,299). The previous day, the market hit 3,967 ringgit, a level not reached since March 2008.
Overall volumes more than doubled to 22,982 lots at 25 tonnes each, compared to the usual 15,000 lots.
REGIONAL EQUITIES-BANGKOK, Feb 11 (Reuters) - Most Southeast Asian stock markets fell on Friday, with Singapore and Malaysia posting their biggest weekly loss in almost nine months, as growing tension in Egypt eroded appetite for risk among emerging market investors.
Foreign funds fled the region just as domestic investors in most markets stayed on the sidelines. The Indonesian <.JKSE> and Thai <.SETI> markets saw subdued trading, with volumes falling to about 0.8 times their 30-day average.
Malaysia, along with Thailand and the Philippines, recorded outflows on the day and the week, amid persistent concern over inflation and as central banks in Asia moved to tighten monetary policy, including interest rate rises by China and Indonesia.
Strong capital inflows into emerging markets last year has lost steam and the region has seen outflows since January.
Dealers expect inflation fears to ease later this year as a result of policy tightening while a recovery in the U.S. economy should shore up global oil prices, luring investors to the resource- and commodity-driven region again.
Singapore's Straits Times Index <.FTSTI> ended down 0.8 percent, with a 4.2 percent loss for the week, the biggest weekly loss since May. Malaysia <.KLSE> eased 0.6 percent on the day. Singapore-listed DBS Group, Southeast Asia's biggest lender, inched down 0.1 percent, as weak sentiment outweighed its better-than-expected quarterly earnings, traders said.
The S&P's five-month surge, which has taken it up almost 27 percent, has confounded those calling for a correction, but weak volume recently has been undercutting the unfailingly bullish direction in equities. Only 7.7 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, below last year's daily average of 8.47 billion.
The Dow Jones industrial average <.DJI> was up 43.97 points, or 0.36 percent, at 12,273.26. The Standard & Poor's 500 Index <.SPX> was up 7.28 points, or 0.55 percent, at 1,329.15. The Nasdaq Composite Index <.IXIC> was up 18.99 points, or 0.68percent, at 2,809.44.
NYMEX-NEW YORK, Feb 11 (Reuters) - U.S. crude oil futures ended at their lowest level in 10 weeks on Friday after Egypt's President Hosni Mubarak's resignation eased worries about potential disruption of oil supplies along the Suez Canal and a strategic pipeline.
The dollar rose against the euro, after a brief dip on the news, helping pressure oil prices.
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO, Feb 11 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Feb 11 (Reuters) - Malaysian palm oil futures rose 0.7 percent on Friday on concerns that earlier floods and rains could further weaken yields at a time of strong demand despite prices logging their weakest weekly gain in two weeks.
Traders expect continued tightening in vegetable oil supplies on strong export demand from China and a possible shift in U.S. farming acreage this year to more lucrative corn from soybeans, an oilseed crushed into competing soyoil.
The benchmark April crude palm oil contract
Overall volumes more than doubled to 22,982 lots at 25 tonnes each, compared to the usual 15,000 lots.
REGIONAL EQUITIES-BANGKOK, Feb 11 (Reuters) - Most Southeast Asian stock markets fell on Friday, with Singapore and Malaysia posting their biggest weekly loss in almost nine months, as growing tension in Egypt eroded appetite for risk among emerging market investors.
Foreign funds fled the region just as domestic investors in most markets stayed on the sidelines. The Indonesian <.JKSE> and Thai <.SETI> markets saw subdued trading, with volumes falling to about 0.8 times their 30-day average.
Malaysia, along with Thailand and the Philippines, recorded outflows on the day and the week, amid persistent concern over inflation and as central banks in Asia moved to tighten monetary policy, including interest rate rises by China and Indonesia.
Strong capital inflows into emerging markets last year has lost steam and the region has seen outflows since January.
Dealers expect inflation fears to ease later this year as a result of policy tightening while a recovery in the U.S. economy should shore up global oil prices
Singapore's Straits Times Index <.FTSTI> ended down 0.8 percent, with a 4.2 percent loss for the week, the biggest weekly loss since May. Malaysia <.KLSE> eased 0.6 percent on the day. Singapore-listed DBS Group
Subscribe to:
Posts (Atom)
