Thursday, August 26, 2010

Trader's Highlight

DJI-NEW YORK, Aug 25 (Reuters) - U.S. stocks staged a comeback on Wednesday, breaking a four-day losing streak by major indexes, as key technical support triggered bargain hunting that offset weak economic data.

The S&P 500 index had sagged as much as 1 percent after data showed new single-family home sales slumped to a record slow pace in July and orders for manufactured durable goods rose far less than anticipated.

The Dow Jones industrial average <.DJI> rose 19.61 points, or 0.20 percent, to 10,060.06. The Standard & Poor's 500 Index <.SPX> added 3.46 points, or 0.33 percent, to 1,055.33. The Nasdaq Composite Index <.IXIC> gained 17.78 points, or 0.8percent, to 2,141.54.

NYMEX-NEW YORK, Aug 25 (Reuters) - U.S. crude oil futures settled higher on Wednesday, bouncing off an 11-week low hit earlier in the day and snapping a five-day streak of lower settlements as the market shrugged off government data showing across-the-board rises in crude oil and product inventories.

The stock market also ended higher after a seesaw session, helping support crude prices.

On the New York Mercantile Exchange, October crude rose 89 cents, or 1.24 percent, to settle at $72.52 a barrel, trading from $70.76 to $72.87, extending the high trade in post-settlement trading.

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

CBOT-SOYBEANS - September up 1/2 cent at $10 per bushel, November unchanged at $9.99. Consolidation trade with some short-covering after Tuesday's drop lending support but a drop in wheat and the approach of an expected record-large U.S. soybean harvest also hangs over the market.

CBOT-SOYOIL - September down 0.34 cent at 39.14 cents per lb. Pressured as oil/meal spreads unwind.

FCPO-KUALA LUMPUR, Aug 25 (Reuters) - Malaysian crude palm oil futures dropped to one-month lows on Wednesday as slower overseas demand and concerns over the pace of global economic recovery weakened sentiment.

Palm oil fell for a second consecutive day after cargo surveyors reported declines for Malaysian exports during Aug 1-25 from a month ago.

The benchmark November crude palm oil contract dropped almost 1 percent, or 24 ringgit, to close at 2,486 ringgit ($791.4). The 2,486 ringgit level was last touched on July 28. Overall traded volume nearly tripled to 29,218 lots of 25 tonnes each.

REGIONAL EQUTIES-BANGKOK, Aug 25 (Reuters) - Indonesia's main share index climbed to a fresh all-time high on Wednesday as investors sought bargains from resource-related shares just as regional equities remained wary of a spate of worrying U.S. economic data.

Cautious investors cut positions in overbought markets, lopping 0.6 percent each off Thai stocks <.SETI> and Malaysian shares <.KLSE>. Economic optimism had pushed the Thai index to a 33-month high and Malaysia's index to a 2-½ year high.

Singapore <.FTSTI> gained 0.1 percent, reversing its early loss to a one-month low and ended its three-day loss. The Philippines <.PSI> gained 0.7 percent while Vietnam <.VNI> dropped 2.4 percent, extending losses for a third session and hitting its lowest since July 23, 2009.

Among bright spots in the region, Southeast Asia's largest telcom firm Singapore Telecommunications rose 1.3 percent as investors bought shares in companies whose earnings are more resilient in an economic downturn.

Singapore's 14-day RSI was 46.2, Indonesia's was 66.09 and Philippnes' was 59.56. Vietnam's 14-day RSI was 19.9 at the close, indicating the market is oversold.

Wednesday, August 25, 2010

Trader's Highlight

DJI-NEW YORK, Aug 24 (Reuters) - U.S. stocks fell to their lowest level in seven weeks on Tuesday as an unexpectedly large drop in home sales ratcheted up concerns that the economic recovery is even weaker than had been feared.

The Dow and S&P 500 racked up their fourth day of losses in a row after an industry group reported that sales of U.S. existing homes in July fell to their slowest pace in 15 years.

The Dow Jones industrial average <.DJI> fell 133.96 points, or 1.32 percent, to 10,040.45. The Standard & Poor's 500 Index <.SPX> shed 15.49 points, or 1.45 percent, to 1,051.87. The Nasdaq Composite Index <.IXIC> lost 35.87 points, or 1.66 percent, to 2,123.76.

NYMEX-NEW YORK, Aug 24 (Reuters) - U.S. crude oil futures ended down for the fifth day in a row on Tuesday, hitting the lowest level in 11 weeks, as fears persisted an economic slowdown would further erode oil demand.

Those fears were reinforced by data showing sales of previously owned U.S. homes plunged in July and a warning from Chicago Federal Reserve president that the risk of a double-dip recession was higher than six months ago.

On the New York Mercantile Exchange, October crude settled down $1.47, or 2.01percent, at $71.63 a barrel, the lowest close since prices ended at $71.44 on June.

CBOT-CHICAGO, Aug 24 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.

CBOT-SOYBEANS - September down 7-1/2 cents at $9.99-1/2 per bushel, November down 6-1/2 at $9.99. Outlooks for record large U.S. 2010 soy production, spillover from falling wheat futures, lower crude oil and equities markets combine to weigh on soy futures. Additional weight from seasonal harvest pressure.

CBOT-SOYOIL - September up 0.23 cent at 39.48 cents per lb. Supported by funds buying 2,000 contracts, traders said.

FCPO-KUALA LUMPUR, Aug 24 (Reuters) - Malaysian crude palm oil futures fell to a three-week low on Tuesday on technical selling and a slowdown in demand thanks to a surge in cash prices.

Palm oil has lost 5.7 percent so far this year thanks to expectations of bountiful supply of U.S. soybeans although losses were limited by oilseeds output in Europe due to drought and rainy weather in oil palm growing Southeast Asia.

Traders say demand has been lacklustre due to a slowdown in orders from China and Pakistan. Refiners have been cautious as the recent strength in the Malaysian ringgit may hit their margins from processing and exporting palm oil.

The benchmark November crude palm oil contract on the Bursa Malaysia Derivatives Exchange fell almost 2 percent, or 50 ringgit, to 2,510 ringgit ($801.9) a tonne after touching its lowest since July 30 at 2,502 ringgit. Traded volume nearly tripled to 28,938 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Aug 24 (Reuters) - Southeast Asian stock markets fell on Tuesday, with Indonesia's benchmark index coming off an all-time high, as investors cut positions in riskier assets ahead of U.S. economic data.

Late selling pulled markets off intraday highs. Singapore's main share index <.FTSTI> inched down 0.1 percent, while Thailand <.SETI> reversed early gains. Optimism fueled by better-than-expected second quarter economy had pushed the Thai market to its highest in 33 months on Monday.

The Philippines <.PSI> dropped 2.3 percent, ending a five-day rise to a 2-½ year high, while Vietnam <.VNI> lost 3.01 percent to an 8-month low, with an outflow of $233,000 for the session, Thomson Reuters data show. Bucking the trend, Malaysia <.KLSE> inched up 0.2 percent, marking a new 2-½ year high.

Tuesday, August 24, 2010

Trader's Highlight

DJI-NEW YORK, Aug 23 (Reuters) - U.S. stocks slipped in one of the lightest volume sessions of the year on Monday as investors took refuge in defensive shares after the latest corporate M&A failed to soothe concerns the recovery is stalling.

Technology shares weighed on the broad market and sent the Nasdaq composite lower as a possible bidding war over data storage company 3PAR between Hewlett Packard Co and Dell Inc sent shares of HP 2 percent lower.

The Dow Jones industrial average <.DJI> slipped 39.21 points, or 0.38 percent, to 10,174.41. The Standard & Poor's 500 Index <.SPX> lost 4.33 points, or 0.40 percent, to 1,067.36. The Nasdaq Composite Index <.IXIC> fell 20.13 points, or 0.92 percent, to 2,159.63.

NYMEX-NEW YORK, Aug 23 (Reuters) - U.S. crude oil futures ended lower for the fourth day in a row on Monday, dragged down by a steep slide in gasoline futures and as dollar remained firm, having recovered from early weakness.

There were no major economic indicators for the day and oil traders turned to the financial markets early for market guidance.

On the New York Mercantile Exchange, crude for October delivery settled down 72 cents, or 0.98 percent, at $73.10 a barrel, the lowest close since front-month contract prices ended at $71.98 on July 6. It traded from $72.75 to $74.48.

CBOT-CHICAGO, Aug 23 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYBEANS - September down 2-1/4 cents at $10.07 per bushel, most-active November up 1-1/2 at $10.05-1/2. Supported by brisk export demand for soybeans and the strength in wheat. Rally limited by seasonal pressure as U.S. harvest nears; market expects a large soy crop.

CBOT-SOYOIL - September down 0.27 cent at 39.25 cents per lb. Pressured by declines in crude oil.

FCPO-KUALA LUMPUR, Aug 23 (Reuters) - Malaysian crude palm oil futures ended 0.6percent higher on Monday after touching fresh three-week lows earlier in the session over concerns that a stronger ringgit will hurt refiner margins.

Traders are on the lookout for new cues after palm oil futures last week notchedtheir biggest weekly fall since October as traders took profits from a recent weather-induced rally in agriculture markets as well as lower palm oil exports.

The benchmark November crude palm oil contract rose by 16 ringgit to 2,560 ringgit ($815.3) a tonne, after reaching an intraday low of 2,532 ringgit -- a level unseen since July 30. Overall traded volume rose to 18,218 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Aug 23 (Reuters) - Thai stocks edged higher on Monday to their highest in 33-months after better-than expected second-quarter economic data and an improving outlook.

Thailand's economy unexpectedly grew in the second quarter from the first as a surge in exports offset deadly political unrest, cementing expectations interest rates will rise further this year.

Economic optimism continued to boost investor appetite in the region, sending Malaysia <.KLSE> and the Philippines <.PSI> each to a 2-½ year high with each adding about 0.6 percent.

Several Southeast Asian stock markets closed above their 5-day moving average, showing a near-term buy signal, including Thaiand's 5-day moving avearage of 886, Malaysia's 1,390.91, Indonesia's 3,101.12 and Philippines' 3,569.63.

Among weak spots in Singapore, Wilmar , the world's largest listed palm oil firm, fell 0.3 percent.

It announced its subsidiaries will acquire the business of a Singapore sugar trading company, Windsor & Brook Trading, and all of the shares of PT Jawamanis Rafinasi, which owns sugar refineries in Indonesia.

In Kuala Lumpur, Telekom Malaysia Bhd gained 0.9 percent. It released after market close a second-quarter net profit of 124.38 million ringgit, versus 265.97 million ringgit a year ago.

Monday, August 23, 2010

Trader's Highlight

DJI-NEW YORK, Aug 20 (Reuters) - U.S. stocks slipped on Friday and the S&P 500 and Dow fell for a second straight week on persistent concerns the recovery has tapered off.

Even so, major indexes came off Friday's lows as some investors homed in on positive outlooks in the tech sector and used this week's M&A news as an excuse for late-day buying.

The Dow Jones industrial average <.DJI> slipped 57.59 points, or 0.56 percent, to 10,213.62. The Standard & Poor's 500 Index <.SPX> was off 3.94 points, or 0.37 percent, to 1,071.69. The Nasdaq Composite Index <.IXIC> added 0.81 points, or 0.04 percent, to 2,179.76.

NYMEX-NEW YORK, Aug 20 (Reuters) - U.S. crude oil futures closed lower on Friday as the front-month September contract expired, losing for the third day in a row and down for the second straight week as worries about a stalling economic recovery festered.

U.S. equities fell as concern about the jobs market and slower manufacturing pace that prevailed on Thursday continued, helping spark another day of selling in oil futures.

On NYMEX, September crude settled down 97 cents, or 1.3 percent, at $73.46 a barrel, the lowest since front-month prices ended at $71.98 on July 6. It traded from $73.19, lowest since July 7's intraday low of $71.44, to $74.60.

CBOT-CHICAGO, Aug 20 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.

CBOT-SOYBEANS - September down 7-1/2 cents per bushel at $10.09-1/4. Outlooks for a record large U.S. soy crop for this year's harvest, a firm dollar, lower crude oil and weak equities combine to weigh on market. Talk China may sell soybeans from its reserves also weighing on market.

CBOT-SOYOIL - September down 0.37 cent per lb at 39.52 cents per lb. Spillover pressure from lower soybeans and weak crude oil. Talk China may sell soyoil from its reserves also weighing on market.

FCPO-KUALA LUMPUR, Aug 20 (Reuters) - Malaysian crude palm oil futures notched their biggest weekly fall since last October as traders took profits from a recent weather rally in global soyoil markets and lower palm oil exports.

Palm oil tumbled 2.4 percent to a three-week low after surveyors reported lacklustre Malaysian exports for August 1-20. It also took cues from sharp declines in China's soyoil market as both commodities compete for use in the food and fuel sectors.

The benchmark November crude palm oil contract on Bursa Malaysia Derivatives Exchange ended almost 2 percent, or 51 ringgit, lower to 2,544 ringgit ($813) after going as low as 2,533 -- a level unseen since July 30. Traded volume almost doubled, to 19,861 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Aug 20 (Reuters) - Most Southeast Asian stock markets rose on Friday, bolstered by foreign inflows into most of the region's emerging economies, with Indonesia hitting a record high for a second day and Malaysia finishing at a one-year high.

Indonesia <.JKSE>, Asia's second-best performer this year, gained 0.4 percent, beating its previous record a day earlier.

Malaysia <.KLSE> scaled a one-year high, just shy of an all-time record, gaining 0.18percent, while Thailand <.SETI>, Southeast Asia's second-best performer, closed up 0.3 percent, hovering near 33-month highs on continued foreign buying.

Singapore's Straits Times Index <.FTSTI> bucked the regional trend, slumping 0.61 percent before closing at 0.35 percent, with investors staying on the sidelines after poor U.S. economic data led to Wall Street losses overnight.

Friday, August 20, 2010

Breaking News-RTRS - Malaysia liberalises ringgit trade

SINGAPORE, Aug 19 (Reuters) - The Malaysian ringgit (MYR=) hit a 13-year high on Thursday after the country's central bank announced rules to allow the currency to be used to settle cross-border trade.

Breaking News-RTRS - Malaysia liberalises ringgit trade

SINGAPORE, Aug 19 (Reuters) - The Malaysian ringgit (MYR=) hit a 13-year high on Thursday after the country's central bank announced rules to allow the currency to be used to settle cross-border trade. (ID: nSGE67HOGQ)
Here are facts about financial regulation in Malaysia for non-residents:
THE REGULATORS The central bank, Bank Negara Malaysia, sets and manages forex policy, and regulates the financial industry.
The Securities Commission regulates the securities and futures market, is responsible for corporate takovers and mergers, and oversees the clearing house.
The Labuan Offshore Financial Services Authority oversees Malaysia's offshore financial centre.

Trader's Highlight

DJI-NEW YORK, Aug 19 (Reuters) - Fear gripped world markets on Thursday, pummeling stocks and driving the dollar to a near 15-year low against the yen as the latest economic data spurred new worries of a deepening slowdown in the United States that could reverberate around the world.

Investors fled for the safety of U.S. Treasuries and gold, sending the yield on the 30-year Treasury bond to its lowest level since April 2009 and driving gold to a seven-week high in New York.

New U.S. claims for first-time jobless benefits scaled a nine-month high last week, while the Federal Reserve Bank of Philadelphia reported an unexpected contraction in manufacturing in the Mid-Atlantic region.

The Dow Jones industrial average <.DJI> was down 144.33 points, or 1.39 percent, at 10,271.21. The benchmark Standard & Poor's 500 Index <.SPX> was down 18.53 points, or 1.69 percent, at 1,075.63. The Nasdaq Composite Index <.IXIC> was down 36.75 points, or 1.66 percent, at 2,178.95.

NYMEX-NEW YORK, Aug 19 (Reuters) - U.S. crude oil futures prices fell a second straight session on Thursday as weak U.S. economic data fueled concerns about demand in a tepid economic recovery.

Factory activity in the U.S. Mid-Atlantic region unexpectedly contracted in August to its lowest level in more than a year, according to the Philadelphia Federal Reserve Bank, which said its business activity index fell to minus 7.7 in August from July's 5.1.

On the New York Mercantile Exchange, September crude fell 99 cents, or 1.31 percent, to settle at $74.43 a barrel, trading from $73.96 to $76.10.


CBOT-CHICAGO, Aug 19 (Reuters) - Chicago Board of Trade grain and soy complex close on Thursday.

CBOT-SOYBEANS - September down 18-1/2 cents per bushel at $10.16-3/4. Opened higher on a surge in wheat and big exports, but turned weak on profit-taking and outlooks for a potential record large U.S. soy crop in 2010.

CBOT-SOYOIL - September down 0.97 cent per lb at 39.89. Pressure from lower soy and weak crude oil.

FCPO-KUALA LUMPUR, Aug 19 (Reuters) - Malaysian crude palm oil futures fell to their lowest in more than two weeks on Thursday over concerns the appreciating ringgit currency would hit refining margins while the soy production outlook stayed strong.

Palm oil has recouped some of its losses in 2010 although it may fall further as a stronger ringgit against the U.S. dollar could lead to lower margins for refiners who buy crude palm oil in the Malaysian currency for processing and export in the U.S. currency.

The benchmark November crude palm oil contract on Bursa Malaysia Derivatives Exchange dropped 0.6 percent, or 15 ringgit, to 2,595 ringgit ($825.6) per tonne after falling as low as 2,567 ringgit, a level unseen since Aug. 3. Overall traded volume nearly doubled to 19,817 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Aug 19 (Reuters) - Southeast Asian stock markets rose on Thursday as optimism over the region's emerging economies lured capital inflows, with Indonesian equities scaling an all-time high and Thai stocks hitting a 33-month high.

Indonesia gained the largest daily net foreign inflow this year of $197 million while Thailand recorded a fourth straight session of foreign buying and the biggest daily net inflow in three weeks worth $82.3 million.

Singapore <.FTSTI> rose nearly 1 percent to a 1-week high, Malaysia <.KLSE> and the Philippines <.PSI> each hovered at their highest in 2-½ years, gaining 0.5 percent and 0.7 percent, respectively.

In Singapore, investors bought property stocks on improving demand for office space in the city-state.

Property developer CapitaLand and City Developments each rose 2.8percent.

Thursday, August 19, 2010

Trader's Highlight

DJI-NEW YORK, Aug 18 (Reuters) - Wall Street rose on Wednesday, led by gains in consumer stocks after a sales forecast from discounter Target Corp temporarily quelled concerns about consumer demand.

Shares of Target rose 2.5 percent to $51.95 after the company said it expects same-store sales to increase 1 percent to 3 percent in the third quarter and be up slightly more in the fourth quarter. The outlook came a day after the stock market rallied on higher-than-expected earnings from Wal-Mart Stores and Home Depot .

The Dow Jones industrial average <.DJI> was up 9.69 points, or 0.09 percent, at 10,415.54. The Standard & Poor's 500 Index <.SPX> was up 1.62 points, or 0.15 percent, at 1,094.16. The Nasdaq Composite Index <.IXIC> was up 6.26 points, or 0.28 percent, at 2,215.70.

NYMEX-NEW YORK, Aug 18 (Reuters) - U.S. crude oil futures prices fell on Wednesday as government data showed total domestic commercial petroleum inventories soared to a record last week.

Losses were pared, however, as oil traders took guidance from higher U.S. equities, an alternative marker for oil demand going forward.

On the New York Mercantile Exchange, September crude settled down 35 cents, or 0.46 percent, at $75.42 a barrel, trading from $73.83, lowest since July 7's intraday low of $71.44, to $75.74.

CBOT-CHICAGO, Aug 18 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.

CBOT-SOYBEANS - September down 10 cents at $10.35-1/4, new-crop November down 11-1/4 cents at $10.30-3/4. Cooler U.S. Midwest weather weighed on soy as it helped boost prospects a record large U.S. soybean crop this year. Decline slowed by gains in wheat and corn and outlooks for a big number for soybeans in Thursday's USDA weekly export sales report.

CBOT-SOYOIL - September down 0.73 cent at 40.86 cents per lb. Pressure from lower soy and meal/oil spreading.

FCPO-KUALA LUMPUR, Aug 18 (Reuters) - Malaysia crude palm oil futures fell to a fresh one-week low on Wednesday as market players booked profit on lacklustre soyoil markets.

The benchmark November crude palm oil contract dropped 1.4 percent, or 36 ringgit, to 2,610 ringgit ($827.5) per tonne after going as low as 2,592 ringgit -- a level unseen since Aug 5.

Overall traded volume almost tripled to 28,152 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Aug 18 (Reuters) - Thai shares rose to their highest in more than two years on Wednesday as investors snapped up energy and bank stocks, but stubborn global economic concerns capped sentiment elsewhere in the region.

Thailand recorded its third straight session of foreign inflows for a combined $52.95 million, stock exchange data showed. Strong capital flows, lured by the economic recovery, pushed Thai baht to its strongest level in 28 months.

Malaysia <.KLSE> edged up 0.5 percent, extending gains for a fourth-session to a new 2-½ year high. Malaysia's central bank issued second-quarter gross domestic production data after the market close, showing the economy accelerating 8.9 percent from a year earlier, beating consensus.

Indonesia <.JKSE> rose 0.6 percent, with net foreign inflows on the session of $23.9 million, according to Thomson Reuters data. Singapore <.FTSTI> inched down 0.14 percent and Philippines <.PSI> was up 0.9 percent at a one-week high.

In Kuala Lumpur, rallying gaming group Genting fell 0.7 percent, pausing after a 3-day rally to a three-year high. Its Genting Malaysia , the country's sole casino operator, was up 1.7 percent.

The group's Singapore-listed Genting Singapore rose 2 percent. Investor bullishness about the tourism sector helped the outlook of casino market and pushed shares in the group to overbought zone. The stock's 14-day relative strength index (RSI) was above 70 on Wednesday, which indicates overbought.

Shipping firms in the region tracked rising freight rates, with the Baltic Exchange's main sea freight index <.BADI>, which tracks rates to ship dry commodities, rising on Tuesday.

Wednesday, August 18, 2010

Trader's Highlight

DJI-NEW YORK, Aug 17 (Reuters) - U.S. stocks rose on Tuesday after earnings from Wal-Mart and Home Depot and a $39 billion takeover bid in the agriculture sector bolstered confidence in the corporate outlook.

The two retailing giants reported profit that topped expectations, buoying the Dow industrials.

The Dow Jones industrial average <.DJI> was up 103.84 points, or 1.01 percent, at 10,405.85. The Standard & Poor's 500 Index <.SPX> was up 13.16 points, or 1.22 percent, at 1,092.54. The Nasdaq Composite Index <.IXIC> was up 27.57 points, or 1.26 percent, at 2,209.44.

NYMEX-NEW YORK, Aug 17 (Reuters) - U.S. crude oil futures ended higher on Tuesday, rebounding from a five-day losing streak, as stronger equities and growth in U.S. industrial production eased some economic worries while the dollar weakened, prompting more risk-taking in commodities.

Options on NYMEX September crude expired at the close, with open positions concentrated at the $77 call, creating a gravitational pull toward that level.

On the New York Mercantile Exchange, September crude settled up 53 cents, or 0.7 percent, at $75.77, trading from $75.01 to $76.63.

CBOT-CHICAGO, Aug 17 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.

CBOT-SOYBEANS - September up 11-1/4 cents at $10.45-1/4, new-crop November up 10-1/2 cents at $10.42. Soy/wheat spreading and some support from drier-than-desired weather in roughly 15 to 20 percent of the eastern Midwest. Higher equities, crude oil and a weak dollar added support.

CBOT-SOYOIL - September up 0.14 cent at 41.59 cents per lb. Support from gains in soybeans and firm crude oil.

FCPO-KUALA LUMPUR, Aug 17 (Reuters) - Malaysian crude palm oil futures fell to more than one-week lows on Tuesday along with other vegetable oil markets although prospects of lower production reined in losses.

Traders were concerned palm oil demand might have slowed after a cargo surveyor reported Malaysian exports fell 16 percent for the first half of August.

The benchmark November crude palm oil futures on Bursa Malaysia Derivatives fell 1.2 percent, or 32 ringgit, to 2,646 ringgit ($832.1) per tonne after touching its lowest point since August 6 of 2,637 ringgit by midday. Traded volume more than doubled to 21,589 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Aug 17 (Reuters) - Malaysian shares rose on Tuesday, hovering near 2-½ year highs, as earnings optimism pushed up banks and heavyweight gaming group Genting while concerns over global growth plagued other Southeast Asian bourses.

Malaysia's main share index <.KLSE> ended up 0.6 percent. The index, which outperformed Southeast Asian bourses last week, extended gains for a third session for a combined 2.15 percent rise ahead of second-quarter GDP on Wednesday.

Financial firm AMMB Holdings Bhd rose 3.4 percent to a 2-year high after its quarterly earnings rose 43 percent, while top lender Maybank gained 0.4 percent to near a 2-½ year high on positive expectations for fourth-quarter results due on Aug. 20.

Genting Malaysia , Malaysia's sole casino operator, rose 6 percent while gaming firm Genting Bhd was up 2.4 percent after strong profits from its Singapore operations.

But overbought Singapore-listed Genting dropped 3.8 percent, reversing a 6.3 percent rise in morning trade. Its 14-day relative strength index (RSI) was at 76.65 at the close on Tuesday, breaching the 70-plus mark that indicates overbought.

Singapore's benchmark Straits Times Index <.FTSTI> extended losses for a second session, ending 0.35 percent lower.

Tuesday, August 17, 2010

Trader's Highlight

DJI-NEW YORK, Aug 16 (Reuters) - The Nasdaq advanced on Monday as investors bought beaten-down technology stocks after a four-day selloff, but concerns about the economy after weak data kept investors wary. The Standard & Poor's 500 index and the Dow industrials fell modestly.

The Dow Jones industrial average <.DJI> was down 9.69 points, or 0.09 percent, at 10,293.46. The Standard & Poor's 500 Index <.SPX> was down 0.60 point, or 0.06 percent, at 1,078.65. The Nasdaq Composite Index <.IXIC> was up 8.13 points, or 0.37 percent, at 2,181.61.

NYMEX-NEW YORK, Aug 16 (Reuters) - Crude oil futures ended lower for the fifth consecutive session on Monday as weak economic data from Japan and the United States fueled more worries about energy demand, erasing support from a weaker dollar.

The down day extended the oil market's losing streak to five sessions, with losses rising to more than 7 percent, the worst performance since a similar period ending July 6.

On the New York Mercantile Exchange, crude for September delivery settled down 15 cents, or 0.2 percent, at $75.24 a barrel, after trading $74.86 to $75.95.

CBOT-CHICAGO, Aug 16 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYBEANS - September down 9-1/2 cents at $10.34, new-crop November down 12-1/2 at $10.31-1/2. Pressure from falling wheat futures and from a turn to better crop weather this week in the U.S. Midwest.

CBOT-SOYOIL - September down 1.07 cents per lb at 41.45 cents per lb. Funds sold 3,000 to 4,000 contracts.

FCPO-KUALA LUMPUR, Aug 16 (Reuters) - Malaysian crude palm oil futures closed almost half a percent lower on Monday on weaker overseas demand but weather concerns in key soy-growing regions limited losses.

Traders were concerned that strong demand was tapering off when cargo surveyors reported up to 16.4 percent decline in Malaysian palm oil exports for August 1-15.

The benchmark November crude palm oil futures ended 0.45 percent, or 12 ringgit, lower at 2,678 ringgit ($845.8) per tonne. Overall traded volume more than doubled to 24,510 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Aug 16 (Reuters) - Malaysian stocks rose to their highest in nearly 2-½ years on Monday on optimism over domestic economic growth, while Southeast Asia's other big stock markets retreated on concerns over the global economy.

Malaysia's main share index <.KLSE> ended up 0.8 percent at the highest since February 2008, helped by expectations second-quarter economic data on Aug. 18 will show the economy grew about 8.1 percent from a year earlier.

While that's slower than the first quarter's 10.1 percent growth, it still shows the economy in sturdy shape, drawing investors into shares with good earnings prospects such as gaming group Genting Bhd and top lender Maybank .

Malaysia has been a regional stock market laggard with gains for the year of 7.7 percent, Southeast Asia's third-worst performer, followed by Singapore's 1.2 percent gain and Vietnam's 6.1 percent loss.

Outperforming Genting rose 6.6 percent, with foreigners seen buying the stock, dealers said. It rose on Friday after its Singapore operations posted a second-quarter profit. Singapore-listed Genting surged 8.2 percent.

Maybank rose 2.9 percent on expectations of positive fourth-quarter results scheduled for Aug. 20.

Major stock markets, including Singapore <.FTSTI>, Indonesia <.JKSE> and Thailand <.SETI>, were weaker as soft U.S. economic figures and escalating risk aversion took a toll.

Singapore edged down 0.2 percent, Indonesia <.JKSE>, Asia's best performing bourse this year, recovered from early losses to end almost unchanged. Jakarta will be shut on Tuesday for a national holiday and trading will resume on Wednesday.

In Singapore, Singapore Telecommunications , Southeast Asia's largest telecoms firm, fell 2.6 percent to S$2.96, having hit S$2.95, the lowest since June 11.

Broker Citi Investment Research cut the stock's target price to S$3 as it reduced its earnings forecast for 2011 and 2012 by 2-5 percent, in part due to lower contributions from foreign affiliates.

Monday, August 16, 2010

Breaking News-RTRS-Wilmar to buy 20 pct of Indonesian palm oil firm

SINGAPORE, Aug 13 (Reuters) - Singapore's Wilmar International , the world's largest listed palm oil firm, will take a 20 percent stake in Kencana Agri , the Indonesian firm said on Friday.
The deal involves Kencana, which is also involved in palm oil, raising S$52.5 million via a placement of new shares to Wilmar. The new shares represent about 15 percent of Kencana's enlarged capital.
Kencana's existing shareholder Kencana Holdings will sell another 5 percent of the firm to Wilmar.
The deal values Kencana at S$0.35 a share, which is less than the firm's last traded price of S$0.395.
Reuters reported on Wednesday that Wilmar was planning to take a 20 percent stake in Kencana.

Trader's Highlight

DJI-NEW YORK, Aug 13 (Reuters) - U.S. stocks closed out their worst week in six with a whimper on Friday, slumping toward the close as economic data gave little reason to reverse a string of sell-offs.

In a thinly traded session, indexes posted their fourth day of losses though selling pressure was limited in the Dow by strength in Bank of America Corp .

The Dow Jones industrial average <.DJI> dropped 16.80 points, or 0.16 percent, to 10,303.15. The Standard & Poor's 500 Index <.SPX> dropped 4.36 points, or 0.40 percent, to 1,079.25. The Nasdaq Composite Index <.IXIC> dropped 16.79 points, or 0.77 percent, to 2,173.48.

NYMEX-NEW YORK, Aug 13 (Reuters) - U.S. crude oil futures prices ended lower for a fourth day in a row on Friday and finished the week with the biggest percentage loss in six weeks, as fears grew that the slowing economic recovery would further erode oil demand.

U.S. retail sales rebounded in July but had signs of lingering economic softness while another indicator, consumer sentiment, appears to have stabilized so far this month, but consumers appeared still nervous over the near term, they said.

On the New York Mercantile Exchange, September crude settled down 35 cents, or 0.46 percent, at $75.39 a barrel. For the week, prices fell $5.31, or 6.6 percent, the worst week for front-month crude since the week to July 2, when prices finished $6.72 lower, or 8.52 percent.

CBOT-CHICAGO, Aug 13 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.

CBOT-SOYBEANS - August expired down 5 cents per bushel at $10.52. September up 17-1/2 at $10.43-1/2, new-crop November up 15-1/2 cents at $10.44. Soybean futures rallied due to good demand from top buyer China and forecasts for heat that could stress the U.S. crop during its key pod filling phase.

CBOT-SOYOIL - August expired up 0.71 cent per lb at 41.80. September up 1.31cents at 42.52 cents per lb. Spillover strength from soybean rally supportive.

FCPO-KUALA LUMPUR, Aug 13 (Reuters) - Malaysian crude palm oil futures hit a 15-month high on renewed concerns about weather following a pessimistic grain production report from the U.S. Department of Agriculture.

The U.S. government made a bigger-than-expected cut in its forecast for world wheat production, pushing U.S. wheat futures to close more than 2 percent higher on Thursday. Soybean and corn also followed wheat higher.

The benchmark October crude palm oil contract on Bursa Malaysia Derivatives Exchange climbed 45 ringgit, or 1.7 percent, to 2,718 ringgit ($857.4) a tonne, after rising as high as 2,737 ringgit -- a level unseen since May 15 last year. Overall volume more than doubled to 23,782 lots of 25 tonnes each.

REGIONAL EQUITIES-COLOMBO, Aug 13 (Reuters) - Most Southeast Asian stock markets rose on Friday as investors looked for bargains after earlier losses that were driven by concern over the global economic recovery.

Indonesia <.JKSE> gained 0.9 percent, Singapore <.FTSTI> rose 0.4 percent after hitting a three-week low on Thursday, Malaysia <.JKSE> closed 0.6 percent firmer, and Vietnam <.VNI> added 1 percent.

Singapore shares rose after falling for three straight sessions with Genting Singapore surging over 14 percent after the casino operator posted strong second-quarter earnings.

Shares in Singapore's banks also recovered marginally with 0.3 percent rise in top lender DBS Group , a 0.1 percent gain in United Overseas Bank and a 0.4 percent rise in Oversea Chinese Banking Corp .

Bucking the trend, Wilmar , the world's biggest listed palm oil firm, fell 2.2 percent after posting a fall in earnings.

Malaysian shares rebounded with Genting Malaysia jumping 6.2 percent and Axiata Group gaining 2.8 percent.

Friday, August 13, 2010

Breaking News-RTRS-INDONESIA'S PALM OIL ASSOCIATION SAYS SEES SLOWER OUTPUT GROWTH IN 2010 OF 4.5-5 PCT DUE TO RAINS

JAKARTA, Aug 13 (Reuters) - Indonesia's crude palm oil (CPO) production may grow at a slower pace of 4.5-5 percent this year, versus last year's 7.5 percent growth, as prolonged rains have affected yields, the head of the country's palm oil association said on Friday.

Breaking News-RTRS - US 2010 CORN YIELD 165.0 BU/AC (VS TRADE ESTIMATE 164.08), SOYBEANS 44.0 BU/AC (VS TRADE 43.06)-USDA

WASHINGTON, Aug 12 (Reuters) - U.S. farmers will reap record-large corn and soybean crops this fall, barely keeping pace with demand, while a surge in wheat exports will offset a devastating drought in Russia, the government forecast on Thursday.
The Agriculture Department also forecast a cotton crop of 18.5 million bales weighing 480 lbs (218 kg), based on conditions at the start of August. It raised its wheat estimate by 2 percent, to 2.26 billion bushels. Corn, wheat and soybean yields would be record-high.

Trader's Highlight

DJI-NEW YORK, Aug 12 (Reuters) - U.S. stocks ended down for a third straight day on Thursday as an unexpected rise in jobless claims and a sobering revenue outlook from Cisco underscored the hurdles to economic recovery.

Thursday's drop comes a day after all three major indexes posted their worst percentage declines in more than a month, erasing gains for the year in the aftermath of a gloomier outlook from the U.S. Federal Reserve.

The Dow Jones industrial average <.DJI> slipped 58.88 points, or 0.57 percent, to 10,319.95. The Standard & Poor's 500 Index <.SPX> dropped 5.86 points, or 0.54 percent, to 1,083.61. The Nasdaq Composite Index <.IXIC> tumbled 18.36 points, or 0.83 percent, to 2,190.27.

NYMEX-NEW YORK, Aug 12 (Reuters) - U.S. crude oil futures prices fell a third straight day on Thursday, sliding nearly 3 percent as an unexpected rise in U.S. jobless claims fueled concerns about faltering economic growth and tepid oil demand.

A stronger dollar index and the greenback's strength against the euro also pressured oil.

The slide followed a 2.78 percent tumble on Wednesday, when the U.S. government reported inventories of gasoline and distillates rose more than expected last week and China reported that growth in investment and factory output there slowed further in July.

On the New York Mercantile Exchange, September crude fell $2.28, or 2.92 percent, to settle at $75.74 a barrel, trading post-settlement as low as $75.52 on the Globex platform.

CBOT-CHICAGO, Aug 12 (Reuters) - Chicago Board of Trade grain and soy complex close on Thursday. Each market, with the exception of soyoil, closed higher but below the day's highs on late computer-generated positioning.

CBOT-SOYBEANS - August up 12-1/2 cents at $10.57 per bushel; new-crop November up 13 cents at $10.28-1/2. Support from big number for soy in USDA's weekly export sales report, soaring wheat and gains slowed by USDA's forecast for record large 2010 U.S. soy producti

CBOT-SOYOIL - August down 0.54 cent at 41.09 cents per lb. Decline in crude oil weighs on soyoil in addition to soymeal/soyoil spreading.

FCPO-KUALA LUMPUR, Aug 12 (Reuters) - Malaysian crude palm oil futures barely moved on Thursday as traders awaited a key U.S. report on world grains demand and supply that has recently driven vegetable oil markets.

But some investors were concerned that the palm oil market may come under some pressure if export demand slows further on a recent rally that pushed palm oil to a 15-month high earlier this week.

The U.S. government is set to forecast a bigger decline in world wheat stocks and a modest drop in global production as Russia's worst drought in over a century halts exports and threatens to whither the next crop.

The benchmark October crude palm oil contract on Bursa Malaysia Derivatives Exchange ended 4 ringgit lower to 2,673 ringgit ($843.2) per tonne. Overall volume doubled to 20,250 lot of 25 tonnes each.

REGIONAL EQUITIES-COLOMBO, Aug 12 (Reuters) - Southeast Asian stock markets fell on Thursday on growing concerns over the global economic recovery.

Indonesia <.JKSE>, the region's best performing market this year, closed 0.3 percent down, Singapore fell 0.8 percent to a three-week low, and Malaysia lost 0.3 percent.

Vietnam <.VNI>, the region's worst performing market, ended 3.2 percent weaker, while Philippines <.PSI> dropped 1.1 percent. Thailand <.SETI> was closed for a holiday.

In Singapore, banks fell for a second straight day with top lender DBS Group falling 0.7 percent, United Overseas Bank down 1 percent and Oversea Chinese Banking Corp dropping 0.8 percent.

Malaysian shares touched a three-week low in early trade but later recovered. Genting Malaysia fell 1 percent and Malalayan Bank closed 0.5 percent weaker.

Thursday, August 12, 2010

Trader's Highlight

DJI-NEW YORK, Aug 11 (Reuters) - U.S. stocks erased the year's gains in the broadest selloff in a month-and-a-half on Wednesday as fears of sustained global economic stagnation caused investors to flee to safer assets.

All three major indexes posted their worst percentage drop since July 16 following the Federal Reserve's bleaker assessment of the economy on Tuesday. The U.S. central bank said it would take steps to hold down borrowing costs. However, some traders questioned how effective these measures would be.

The Dow Jones industrial average <.DJI> was down 265.42 points, or 2.49 percent, at 10,378.83. The Standard & Poor's 500 Index <.SPX> was down 31.59 points, or 2.82 percent, at 1,089.47. The Nasdaq Composite Index <.IXIC> was down 68.54 points, or 3.01 percent, at 2,208.63.

NYMEX-NEW YORK, Aug 11 (Reuters) - U.S. crude oil futures ended lower for the second day in a row on Wednesday, posting the biggest two-day loss in more than five weeks as a larger-than expected rise in fuel stocks sparked renewed demand worries.

News of slower growth in China's investment, factory output and oil demand as well as cautious economic outlooks from the Federal Reserve and the International Energy Agency raised more anxiety about global economic recovery.

On the New York Mercantile Exchange, crude for September delivery settled down $2.23, or 2.78 percent, at $78.02 a barrel. In two days, the front-month contract has fallen $3.46, or 4.25 percent. That was the biggest two-day loss percentage-wise, since July 1-2, when the combined loss totaled $3.49, or 4.62percent.

CBOT-CHICAGO, Aug 11 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday. Positioning ahead of the release on Thursday of USDA's August crop production reports, which are expected to show large U.S. corn and soybean crops.

CBOT-SOYBEANS - August up 8-1/4 cents per bushel at $10.44-1/2. New-crop November down 6-1/2 at $10.15-1/2. Thinly traded August up as expiration nears on Friday and the posting of no deliveries combined with active exports of U.S. soy, including additional sales to China. Positioning ahead of Thursday's USDA August crop production reports wieghed on the market.

CBOT-SOYOIL - August up 0.17 cent per lb at 41.63. Soyoil/soymeal spreading lifts soyoil.

FCPO-JAKARTA, Aug 11 (Reuters) - Malaysian crude palm oil futures ended up 0.22 percent on Wednesday, as gains in the wheat market offered support but concerns over weaker demand weighed on the market.

Traders fear palm oil demand growth may stall as India and China, the world's two largest vegetable oil consumers, rely more on soyoil imports.

The benchmark October crude palm oil contract on Bursa Malaysia Derivatives Exchange ended up 6 ringgit to 2,676 ringgit ($844) per tonne. Volume rose to 12,394 lots of 25 tonnes each, compared to the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, Aug 11 (Reuters) - Southeast Asian stock markets fell on Wednesday, wary of the weaker U.S. economic outlook, with banks leading Singapore's fall to three-week lows and a softening oil market pushing energy shares down across the region.

The U.S. economic environment kept investors cautious over the pace of recovery in Asia as well as the outlook for exports. Share markets in Malaysia <.KLSE> and Thailand <.SETI> touched their lowest in two weeks and Indonesia <.JKSE> a one-week low.

In Singapore, the benchmark Straits Times Index <.FTSTI> ended down 1.2 percent. Singapore shares have pulled back around 3 percent from a year-high of 3,043.28 set on Aug. 3 as quarterly earnings and GDP numbers are now mostly out and the market is sizing up the possibility of a global economic relapse.

Banks were among losers in Singapore, with DBS Group , Southeast Asia's largest lender, falling 1.7 percent, United Overseas Bank down 1.5 percent and Oversea-Chinese Banking Corp 1 percent lower.

Malaysia's top power producer Tenaga Nasional eased 0.12 percent, Indonesia's biggest coal miner by market value Adaro Energy fell 1.2 percent and Philippine energy producer Aboitiz Power Corp lost 2.7 percent.

Wednesday, August 11, 2010

Trader's Highlight

DJI-NEW YORK, Aug 10 (Reuters) - U.S. stocks fell on Tuesday but closed off their lows after the Federal Reserve said it would take new steps to counter a weak recovery.

The Dow, which was down about 100 points before the Fed's announcement, briefly turned positive, though buying interest waned on the Fed's more pessimistic assessment of the economy.

The Dow Jones industrial average <.DJI> was down 54.50 points, or 0.51 percent, at 10,644.25. The Standard & Poor's 500 Index <.SPX> was down 6.73 points, or 0.60 percent, at 1,121.06. The Nasdaq Composite Index <.IXIC> was down 28.52 points, or 1.24 percent, at 2,277.17.

NYMEX-NEW YORK, Aug 10 (Reuters) - U.S. crude oil futures ended lower on Tuesday but trimmed losses near the close after the Federal Reserve said it will stick to its low-interest policy for an extended period in a move to support the faltering economic recovery.

Earlier, crude futures fell below $80 on data showing a falloff in China's July crude imports and as the dollar rose.

On the New York Mercantile Exchange, September crude settled down $1.23, or 1.5 percent, at $80.25 a barrel, trading from $79.20 to $81.62.

CBOT-CHICAGO, Aug 10 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.

CBOT-SOYBEANS - August down 12-1/4 cents at $10.36-1/4 per bushel; new-crop November down 13 cents at $10.22. Soybean futures dropped on spillover from falling wheat and despite news from USDA of more sales of U.S. soy to China.

CBOT-SOYOIL - August down 0.26 cent at 41.46 cents per lb. Following soybeans and spillover pressure from lower crude oil.

FCPO-KUALA LUMPUR, Aug 10 (Reuters) - Malaysian crude palm oil futures fell on Tuesday from a 15-month high as investors took profits on lower overseas demand and weaker soyoil markets after a string of palm oil data pointed to a possible stock rise.

Although Malaysia's July palm oil stocks fell to its lowest in one year, weaker exports for the first 10 days of August suggest a stock-build up may be on the cards.

The benchmark October crude palm oil contract on Bursa Malaysia Derivatives Exchange fell 2.2 percent or 60 ringgit at 2,670 ringgit ($850.3). The same contract touched over one-year high at 2,736 ringgit the previous day. Overall traded volume almost doubled to 18,007 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Aug 10 (Reuters) - Southeast Asian stock markets fell on Tuesday on caution ahead of a U.S. Federal Reserve meeting, with Thai stocks sliding to their lowest in a week and Indonesia snapping a four-day gain.

Thailand's main index <.SETI>, which had recorded thirteen consecutive gains to 26-month highs until Monday, lost 1.5 percent while Indonesia <.JKSE> slid 0.8 percent after approaching a record high set on July 30.

Singapore <.FTSTI> and Malaysia <.KLSE> posted smaller losses but Vietnam <.VNI> dropped 2.3 percent to a seven-month low. The Philippines <.PSI> bucked the trend, adding 0.3 percent, hovering around 2-1/2-year highs.

In Singapore, the biggest developer, CapitaLand , eased 0.7 percent and top lender DBS Group fell 0.8 percent.

Singapore's index, which fell to 2,984.29 on Tuesday, might still reach 3,000 this week because positive second-quarter GDP numbers reflected the strength of Asian economies, with China an important engine for demand, said David Cohen, an economist at Action Economics.

Tuesday, August 10, 2010

Breaking News-RTRS - Malaysia's July palm oil stocks at one-year lows

KUALA LUMPUR, Aug 10 (Reuters) - Malaysia's July palm oil
stocks fell to their lowest in a year as overall local and
foreign demand still outpaced a recovery in output, data from an
industry regulator showed on Tuesday.
The Malaysian Palm Oil Board (MPOB) said stocks in the
world's No. 2 producer dropped 3.1 percent to 1.41 million
tonnes from a month ago, slightly lower than market estimates
but hitting the lowest since July. 2009.

Trader's Highlight

DJI-NEW YORK, Aug 9 (Reuters) - U.S. stocks rose on Monday in the quietest session of the year on speculation that the Federal Reserve would signal potential steps to boost the sluggish economic recovery.

Volume was a mere 5.71 billion shares, compared with last year's estimated daily volume of 9.65 billion shares, as investors were wary of taking new positions before the Fed's statement on Tuesday.

The Dow Jones industrial average <.DJI> was up 45.19 points, or 0.42 percent, at 10,698.75. The Standard & Poor's 500 Index <.SPX> was up 6.15 points, or 0.55 percent, at 1,127.79. The Nasdaq Composite Index <.IXIC> was up 17.22 points, or 0.75percent, at 2,305.69.

NYMEX-NEW YORK, Aug 9 (Reuters) - U.S. crude oil futures ended higher for the first time in four sessions on Monday as traders speculated that the Federal Reserve was poised to add liquidity to bolster a sputtering economic recovery and weekly inventory data would show a decline in domestic crude stocks.

Oil futures moved in line with a slight rise in equities, where investors speculated about the Fed action on Tuesday afternoon, when it will issue a statement.

On the New York Mercantile Exchange, September crude settled up 78 cents, or 1.0 percent, at $81.48 a barrel, trading from $80.71 to $81.76.

CBOT-CHICAGO, Aug 9 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYBEANS - August down 10-1/2 cents at $10.48-1/2 per bushel; new-crop November up 1-1/2 cents at $10.35. Soybean futures were mixed, with nearby contracts weak but new-crop months buoyed by strong demand from top buyer China.

CBOT-SOYOIL - August up 0.33 cent at 41.72 cents per lb. Gains in crude oil supportive, along with soyoil/soymeal spreading.

FCPO-KUALA LUMPUR, Aug 9 (Reuters) - Malaysia crude palm oil futures soared on Monday to hit over one-year highs on strong demand from China and concerns that dry weather in the United States may stunt oilseed rival soybean crops.

Hot weather and below-normal rains in the U.S. Delta and southern Midwest this week will continue to stress the soybean crop, with favourable conditions expected across the northern and western Midwest.

The benchmark October crude palm oil contract on Bursa Malaysia Derivative Exchange ended 70 ringgit or 2.6 percent higher at 2,731 ringgit ($867.8) a tonne after trading as high as 2,736 ringgit, a level not seen since May 15 last year. Overall traded volume more than doubled to 24,644 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Aug 9 (Reuters) - Thai stocks ended flat on Monday after profit-taking but Indonesia rose again and other Southeast Asian stock markets generally edged higher amid expectations of further Federal Reserve help for the U.S. economy.

Weaker-than-expected U.S. job data for July fanned speculation the Fed may send a clear signal when it meets on Tuesday that it is prepared to print more money to counter renewed economic weakness.

Malaysia <.KLSE> was flat, taking a breather after last week's rise to a 2-1/2-year high. Singapore, shut on Monday, hit a two-year high early last week.

Monday, August 9, 2010

Trader's HIghlight

DJI-NEW YORK, Aug 6 (Reuters) - U.S. stocks fell on Friday after government data showed a larger-than-expected drop in July payrolls, giving investors a stark reminder the economic recovery remains slow.

Stocks had been rising over the past five weeks, largely on the back of solid corporate earnings. The S&P 500 is still up 9.7 percent from its closing low for the year set July 2.

The Dow Jones industrial average <.DJI> dropped 21.42 points, or 0.20 percent, to 10,653.56. The Standard & Poor's 500 Index <.SPX> shed 4.17 points, or 0.37 percent, to 1,121.64. The Nasdaq Composite Index <.IXIC> lost 4.59 points, or 0.20 percent, to 2,288.47.

NYMEX-NEW YORK, Aug 6 (Reuters) - U.S. crude oil futures fell a third straight day on Friday, weighed down by a weak U.S. jobs report that also pulled Wall Street lower.

But crude prices managed to settle above $80 a barrel and a higher finish versus a week ago, as oil's losses were tempered by the dollar's <.DXY> broad slump and weakness against the euro.

On the New York Mercantile Exchange, September crude fell $1.31, or 1.6 percent, to settle at $80.70 a barrel, trading from $80.04 to $82.67.

CBOT-CHICAGO, Aug 6 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.

CBOT-SOYBEANS - August up 4 cents at $10.59 per bushel; new-crop November up 4-1/2 at $10.33-1/2. Boosted by brisk export sales of U.S. soy, especially to China.

CBOT-SOYOIL - August up 0.13 cent at 41.39 cents per lb. Spillover support from soybeans.

FCPO-JAKARTA, Aug 6 (Reuters) - Malaysia crude palm oil futures closed up 1.6 percent on Friday after trading near a five-month high as gains in wheat sparked renewed concern erratic weather could also affect crops like soybean and palm oil, curbing global supplies.

U.S. wheat futures jumped more than 6 percent on Friday, taking weekly gains to around more than 25 percent as Russia's move to temporarily halt grain shipments after drought damaged its wheat crop sparked a buying frenzy.

The benchmark October crude palm oil contract on Bursa Malaysia Derivative Exchange settled up 42 ringgit at 2,661 ringgit ($846) a tonne after trading as high as 2,695 ringgit, a level not seen since March 11.

REGIONAL EQUITIES-BANGKOK, Aug 6 (Reuters) - Indonesian stocks rose on Friday, extending their gains into a third session as investors bet on a recovery in Southeast Asia's biggest economy, but the rest of the region ended flat to lower.

Foreign investors scooped up shares in Indonesia after its central bank said full-year economic growth was likely to exceed its forecast of close to 6 percent after higher-than-expected second-quarter growth.

Singapore <.FTSTI>, which hit a three-month high early this week, ended down 0.4 percent while Malaysia <.KLSE> edged down 0.1 percent, falling for a third session. Malaysia hovered around 29-month highs early this week. Singapore is shut on Monday for its national day.