Tuesday, November 1, 2011

Trader's Highlight

DJI-NEW YORK, Oct 31 (Reuters) - Wall Street closed its best month in 20 years on a down note on Monday as the failure of trading firm MF Global Holdings Ltd and new worries about Europe's debt crisis hammered financial shares.

In a sign that Europe's woes were far from over, Italian and Spanish bond yields soared, prompting the European Central Bank to buy the debt, while shares of European banks came under heavy selling pressure.

The Dow Jones industrial average <.DJI> dropped 276.10 points, or 2.26 percent, to 11,955.01. The Standard & Poor's 500 Index <.SPX> fell 31.79 points, or 2.47 percent, to 1,253.30. The Nasdaq Composite Index <.IXIC> lost 52.74 points, or 1.93 percent, to 2,684.41.

NYMEX-NEW YORK, Oct 31 (Reuters) - U.S. crude oil futures ended lower for a second day in a row on Monday as investors trimmed holdings of risky assets after the dollar strengthened following Japan's intervention to curb the yen's gains.

But for October, crude futures finished more than 17 percent higher, the biggest monthly gain since May 2009, reflecting speculators' recent bullish bets as prices shifted to backwardation, in which the nearby contract is more expensive that outlying months -- usually a sign of tightening supplies.

On the New York Mercantile Exchange, crude for December delivery fell 13 cents, or 0.14 percent, to settle at $93.13 a barrel, after trading between $91.36 and $93.80.

CBOT-SOYBEANS, Soybean futures on the Chicago Board of Trade closed lower on a strong dollar, falling equities and hesitant trading tied to the bankruptcy filing of futures broker MF Global.

U.S. export sales of soybeans have been dismal due to competition from Brazil. Some traders say the export season in Brazil could begin sooner in 2012, which could further depress demand for supplies from the United States.

FCPO-KUALA LUMPUR, Oct 31 (Reuters) - Malaysian palm oil futures dropped on Monday, sliding along with other commodities as the dollar jumped on Japanese intervention to weaken the yen, and on continuing caution over the state of the global economy.

The dollar jumped to a three-month high against the yen and was up 1.2 percent against a basket of currencies <.DXY> after the Japanese move.

Benchmark January palm oil futures on the Bursa Malaysia Derivatives Exchange settled down 1.1 percent to 2,938 ringgit ($959.034). Last week prices hit 3,007, a level not seen since Sept. 22.

REGIONAL EQUITIES-BANGKOK, Oct 31 (Reuters) - Stocks in Indonesia and Singapore fell on Monday as investors locked in quick gains in market big-caps, showing their caution about the state of the global economy, but selective buying helped reverse losses elsewhere, including flood-hit Thailand.

Volume was low ahead of big events this week including central bank meetings, U.S. payroll data and a Group of 20 meeting that will be watched for coordinated efforts to stabilise financial markets.

Late selling sent Singapore's Straits Times Index <.FTSTI> 1.72 percent lower while Jakarta's Composite Index <.JKSE> ended down 1 percent. Malaysia <.KLSE> and Thailand <.SETI> erased early losses to post limited gains on the day.

Malaysia took in $63 million in inflows on Monday after $253 million last week while Indonesia reported $0.16 million in outflows after $253 million in inflows last week, Thomson Reuters and stock exchange data showed.

Among weak spots, Singapore's top lender, DBS Group Holdings Ltd , dropped 3.4 percent and Indonesian micro lender PT Bank Rakyat Indonesia Tbk eased 0.7 percent. Both had gained around 8 percent last week.

In Bangkok, investors picked commodity-related firms and stocks offering a high dividend yield, with the impact of the floods still fairly limited. Mobile operator Advanced Info Service Pcl hit a record high and coal miner Banpu Pcl gained 0.3 percent.


Friday, October 28, 2011

Trader's Highlight

DJI-NEW YORK, Oct 27 (Reuters) - U.S. stocks surged 3 percent on Thursday as an agreement by European leaders to help contain the region's two-year debt crisis lifted a cloud hovering over markets.

Optimism that a deal would be struck to prevent widespread financial distress fueled the market's rebound in October. The S&P 500 is up more than 13 percent this month, on pace for its biggest monthly gain since October 1974.

The Dow Jones industrial average <.DJI> was up 339.51 points, or 2.86 percent, at 12,208.55. The Standard & Poor's 500 Index <.SPX> was up 42.59 points, or 3.43 percent, at 1,284.59. The Nasdaq Composite Index <.IXIC> was up 87.96 points, or 3.32 percent, at 2,738.63.

NYMEX-NEW YORK, Oct 27 (Reuters) - U.S. crude futures jumped more than 4 percent on Thursday, propelled by Europe's latest plans to tackle its debt problems, supportive U.S. economic data and the dollar's weakness as the euro rallied.

Euro zone leaders struck a deal with private banks and insurers for them to accept a 50 percent loss on their Greek government bonds in a plan to lower Greece's debt burden and try to contain the currency bloc's crisis.

On the New York Mercantile Exchange, December crude rose $3.76, or 4.17 percent, to settle at $93.96 a barrel, trading from $90.74 to $94.25.

CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended up more than 2 percent, the biggest rise in two weeks, buoyed by a drop in the U.S. dollar after European leaders agreed on a plan to solve the region's debt crisis, traders said.

The U.S. dollar index <.DXY> was down nearly 1.9 percent by 1:20 p.m. CDT (1820 GMT), lifting a range of commodities. U.S. crude oil futures were up nearly 4 percent.

FCPO-JAKARTA, Oct 27 (Reuters) - Malaysian palm oil futures rose to a five-week high on Thursday, as a euro zone debt deal boosted investor sentiment, with higher crude prices and lower output expectations offering additional support.

Benchmark January palm oil futures on the Bursa Malaysia Derivatives Exchange closed 1 percent higher at 2,980 Malaysian ringgit ($952) a tonne, after having earlier touched 3,007, a high not seen since Sept. 22.

Traded volumes for the January palm contract stood at 13,281 lots of 25 tonnes each, compared with 14,264 lots on Tuesday, before Wednesday's holiday in Malaysia for the Hindu Diwali festival of lights.


REGIONAL EQUITIES-Oct 27 (Reuters) - Southeast Asian stock markets gained on Thursday and foreigners were active buyers as a euro zone deal to lower Greece's debt burden and boost the zone's rescue fund increased investors' appetite for risk.[ID:nL5E7LR04T]

AB Capital Securities equities analyst Jose Vistan said the worst-case scenario may have been avoided but the boost to confidence may be temporary.

Singapore <.FTSTI>, outperforming the region, jumped 2.8 percent to a seven-week high led by banks and property shares with the day's trading volume jumping to 1.84 percent of its 30-day average.

Indonesia enjoyed foreign inflows of $66.2 million and Manila $12.7 million. Thailand saw net offshore buying of $39.2 million and Malaysia $85.6 million.

The day's trading volume in Kuala Lumpur was 1.65 percent of its 30-day average and 1.43 percent in Jakarta.

In Singapore, property firms with exposure to China jumped on hopes that Beijing may loosen policy after Premier Wen Jiabao pledged to maintain appropriate credit growth.

Singaporean banks also helped the overall market to gain with top lender DBS rising 2.8 percent and Oversea-Chinese Banking Corp and United Overseas Bank adding 1.9 percent.

Thursday, October 27, 2011

Trader's Highlight

DJI-NEW YORK, Oct 26 (Reuters) - U.S. stocks rose on Wednesday as the slow progress from European leaders in resolving their debt crisis was enough to satisfy investors, even if early reports from an EU summit were short on detail.

The euro zone aims to leverage its 440 billion euro bailout fund "several fold," but details are not expected until November, according to a draft statement obtained by Reuters.

The Dow Jones industrial average <.DJI> gained 162.42 points, or 1.39 percent, to 11,869.04. The Standard & Poor's 500 Index <.SPX><.INX> rose 12.94 points, or 1.05 percent, to 1,241.99. The Nasdaq Composite Index <.IXIC> added 12.25 points, or 0.46 percent, to 2,650.67.

NYMEX-NEW YORK, Oct 26 (Reuters) - Oil prices fell on Wednesday as concerns about rising U.S. inventories added to caution about Europe's ability to agree on a plan to address the debt crisis.

U.S. oil futures dropped 3 percent, leading the complex lower and widening the contract's discount to European Brent crude by nearly $1, partially retracing two days of heavy selling on the spread.

ICE Brent crude for December fell $2.01 to settle at $108.91 a barrel. U.S. December crude traded down $2.97, settling at $90.20 a barrel.

CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell as the dollar firmed on worries about the outcome of a crucial European Union summit seeking solutions to the euro zone debt crisis, traders said. Spillover weakness from crude oil, corn and wheat added pressure.

FCPO-JAKARTA, Oct 25 (Reuters) - Malaysian palm oil futures rose to a near one-month high on Tuesday, buoyed by export data and expectations of lower output, with additional support from optimism over a possible solution to the euro zone's debt problems.

Uncertainty about just how close European Union leaders will come to solving the euro zone debt crisis kept many markets trading in a tight range on Tuesday.

Benchmark January palm oil futures on the Bursa Malaysia Derivatives Exchange ended 2.1 percent higher at 2,951 Malaysian ringgit ($941) a tonne, their highest since Sept. 26.

Traded volumes for the January palm contract stood at 14,264 lots of 25 tonnes each, compared with 12,213 lots on Monday.

REGIONAL EQUITIES-HONG KONG, Oct 26 (Reuters) - Southeast Asian stocks were mixed on Wednesday as Indonesia eked out gains with foreign investors continuing to tiptoe back but caution over a euro zone debt summit later in the day.

Public holidays in Singapore and Malaysia kept regional market turnover light.

Thailand's benchmark stock index <.SETI> ended the day down 0.4 percent as the country's worst flooding in five decades threatened Bangkok.

Indonesia's market <.JKSE> closed up 0.8 percent, helped by a 5.5 percent bounce for
state-controlled PT Perusahaan Gas Negara Tbk (PGN) on the firm's plan to lift prices and improve margins.