DJI-NEW YORK, Aug 5 (Reuters) - U.S. stocks closed out their worst week in more than two years on Friday in a volatile session that saw the major indexes whip back and forth before the S&P 500 ended down less than a point.
More than 15.9 billion shares -- or more than twice the daily average volume -- traded in the busiest day in more than a year as investors plowed into cash-rich mega-cap stocks that had been beaten down in recent days as the market dropped.
The market's swings on Friday were fast and furious, with the Dow Jones industrial average covering 416.41 points from its session high to its intraday low.
The Dow Jones industrial average .DJI rose 60.93 points, or 0.54 percent, to end at 11,444.61. But the Standard & Poor's 500 Index .SPX edged down just 0.69 of a point, or 0.06 percent, to finish at 1,199.38. The Nasdaq Composite Index .IXIC slipped 23.98 points, or 0.94 percent, to close at 2,532.41.
NYMEX-NEW YORK, Aug 5 (Reuters) - U.S. crude oil futures rose slightly in volatile trading on Friday to end a five-day losing streak on a positive jobs report and a pipeline fire in Iran.
But for the week, crude futures suffered a loss of more than 9 percent as deeper anxieties over the long-term course of economy sparked risk aversion for most of the recent sessions.
In Asian trading, U.S. crude futures fell to the day's low of $82,87, lowest since Nov. 26 on worries of a global economic slowdown.
On the New York Mercantile Exchange, crude for September delivery CLU1 settled at $86.88 a barrel, edging up 25 cents, or 0.29 percent, after trading from $82.87 to $88.32.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade closed lower, pressured by worries about the global economy and improving U.S. crop weather, traders said.
Front-month soybean futures Sc1 ended the week down 1.8 percent, the third straight weekly decline. Dollar weak; crude oil higher late in choppy trade.
FCPO-JAKARTA, Aug 5 (Reuters) - Malaysian palm oil futures fell as much as 2.6 percent on Friday to a nearly one-month low amid a broad-based sell-off in commodities, as risk-averse investors worried about the health of the U.S. economy ahead of key jobs data.
The benchmark October contract KPOc3 on the Bursa Malaysia Derivatives Exchange closed at 3,051 Malaysian ringgit ($1,023) per tonne, but off an earlier low of 3,021 ringgit -- the lowest since July 6.
Traded volumes for the contract were at two-week highs at 17,939 lots of 25 tonnes each, compared to 10,163 lots on Thursday. Benchmark palm oil prices, which hit a near two-week high at 3,144 ringgit earlier this week, notched a weekly drop of 1.5 percent.
REGIONAL EQUITIES-BANGKOK, Aug 5 (Reuters) - Southeast Asian stock markets tumbled on Friday, with Indonesia suffering its biggest loss in more than 2-1/2 years and Singapore its biggest in over two years as investors sold big-cap and commodity stocks.
The falls came in strong volume and foreign money flowed out as worries about a possible slide back into recession in the United States and Europe's debt crisis prompted investors to get out of risky assets.
Indonesia's .JKSE weekly loss was 5.1 percent, Southeast Asia's second-worst after Singapore's .FTSTI 6.1 percent.
Thai stocks finished down 2.7 percent on the day, with a weekly loss of 3.5 percent. Malaysia and the Philippines fell more than 1 percent on the day and week.
Malaysia's CIMB Group CIMB.KL fell 1.3 percent, refiner Thai Oil TOP.BK plunged 5.8 percent and Philippine Ayala Land ALI.PS lost 2.4 percent.
Singapore-listed commodity trading firm Noble Group NOBG.SI tumbled 6.9 percent, hit by concerns that a slowdown in the global economy would hurt its earnings.
Monday, August 8, 2011
Friday, August 5, 2011
Trader's Highlight
DJI-NEW YORK, Aug 4 (Reuters) - Investors fled Wall Street in the worst stock-market selloff since the middle of the financial crisis in early 2009 in what has turned into a full-fledged correction.
The Dow and the S&P tumbled more than 4 percent on Thursday and the Nasdaq lost 5 percent on fear the United States is staring at another recession and that Europe's sovereign debt crisis is swallowing two of its largest economies.
Analysts predicted further losses even though stocks have fallen on nine of the last 10 days. Two-year Treasury yields fell to a record low as investors sought safety in short-term government bonds.
The Dow Jones industrial average .DJI was down 512.46 points, or 4.31 percent, at 11,383.98. The Standard & Poor's 500 Index .SPX fell 60.21 points, or 4.78 percent, at 1,200.13. The Nasdaq Composite Index .IXIC lost 136.68 points, or 5.08 percent, at 2,556.39.
NYMEX-NEW YORK, Aug 4 (Reuters) - U.S. crude futures fell more than 5 percent on Thursday, dropping through technical support to the lowest since February as mounting fears of a stalled economy sent investors away from riskier assets.
RBOB gasoline futures again were the day's biggest percentage loser in the oil complex, dropping more than 6 percent, while heating oil futures fell more than 4 percent.
On the New York Mercantile Exchange, September crude CLU1 fell $5.30 or 5.77 percent, to settle at $86.63 a barrel, having traded from $86.04 to $92.59.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell nearly 2 percent, their biggest decline since June 30, following a broad sell-off in commodity and equity markets as worries about the U.S. economy and European debt escalated. .N
Front-month August soybean futures Sc1 dipped to $13.34 a bushel, the lowest level on continuous charts since July 7.
FCPO-JAKARTA, Aug 4 (Reuters) - Malaysian palm oil futures closed 1.1 percent lower on Thursday, tracking comparable vegetable oils lower on persistent global economic jitters and crude prices that flirted with one-month lows.
The benchmark October contract KPOc3 on the Bursa Malaysia Derivatives Exchange ended at 3,101 ringgit ($1,043) per tonne, but off an earlier low of 3,100 ringgit.
Traded volumes for the contract were 10,163 lots of 25 tonnes each, compared to 9,607 lots on Wednesday.
REGIONAL EQUITIES-BANGKOK, Aug 4 (Reuters) - Stocks in Singapore, Indonesia and Thailand dropped on Thursday and investors sold recent gainers such as banks as worries about global growth lingered, while quarterly results generally failed to spur much buying interest.
Other markets also erased most of their early gains but Malaysia .KLSE and the Philippines .PSI still ended slightly higher and Vietnam .VNI climbed 1.2 percent, helped by a report the central bank would try to get borrowing costs down for industry.
In Singapore, Oversea-Chinese Banking Corp OCBC.SI fell 2 percent. Singapore's second-biggest lender missed forecasts for its April-June quarterly profit as staff costs and bad debt charges jumped, partially offsetting strong income from loan growth.
The Dow and the S&P tumbled more than 4 percent on Thursday and the Nasdaq lost 5 percent on fear the United States is staring at another recession and that Europe's sovereign debt crisis is swallowing two of its largest economies.
Analysts predicted further losses even though stocks have fallen on nine of the last 10 days. Two-year Treasury yields fell to a record low as investors sought safety in short-term government bonds.
The Dow Jones industrial average .DJI was down 512.46 points, or 4.31 percent, at 11,383.98. The Standard & Poor's 500 Index .SPX fell 60.21 points, or 4.78 percent, at 1,200.13. The Nasdaq Composite Index .IXIC lost 136.68 points, or 5.08 percent, at 2,556.39.
NYMEX-NEW YORK, Aug 4 (Reuters) - U.S. crude futures fell more than 5 percent on Thursday, dropping through technical support to the lowest since February as mounting fears of a stalled economy sent investors away from riskier assets.
RBOB gasoline futures again were the day's biggest percentage loser in the oil complex, dropping more than 6 percent, while heating oil futures fell more than 4 percent.
On the New York Mercantile Exchange, September crude CLU1 fell $5.30 or 5.77 percent, to settle at $86.63 a barrel, having traded from $86.04 to $92.59.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell nearly 2 percent, their biggest decline since June 30, following a broad sell-off in commodity and equity markets as worries about the U.S. economy and European debt escalated. .N
Front-month August soybean futures Sc1 dipped to $13.34 a bushel, the lowest level on continuous charts since July 7.
FCPO-JAKARTA, Aug 4 (Reuters) - Malaysian palm oil futures closed 1.1 percent lower on Thursday, tracking comparable vegetable oils lower on persistent global economic jitters and crude prices that flirted with one-month lows.
The benchmark October contract KPOc3 on the Bursa Malaysia Derivatives Exchange ended at 3,101 ringgit ($1,043) per tonne, but off an earlier low of 3,100 ringgit.
Traded volumes for the contract were 10,163 lots of 25 tonnes each, compared to 9,607 lots on Wednesday.
REGIONAL EQUITIES-BANGKOK, Aug 4 (Reuters) - Stocks in Singapore, Indonesia and Thailand dropped on Thursday and investors sold recent gainers such as banks as worries about global growth lingered, while quarterly results generally failed to spur much buying interest.
Other markets also erased most of their early gains but Malaysia .KLSE and the Philippines .PSI still ended slightly higher and Vietnam .VNI climbed 1.2 percent, helped by a report the central bank would try to get borrowing costs down for industry.
In Singapore, Oversea-Chinese Banking Corp OCBC.SI fell 2 percent. Singapore's second-biggest lender missed forecasts for its April-June quarterly profit as staff costs and bad debt charges jumped, partially offsetting strong income from loan growth.
Wednesday, August 3, 2011
Trader's Highlight
DJI-NEW YORK, Aug 2 (Reuters) - The S&P 500 turned negative for the year on Tuesday as the wrangling over the U.S. debt ceiling faded and investors turned their attention to the stalling economy.
The broad-based index fell for a seventh day and crashed through its key 200-day moving average in an ominous sign for markets. The seven days of losses mark the longest losing streak since October 2008.
The Dow Jones industrial average .DJI dropped 265.87 points, or 2.19 percent, to 11,866.62. The Standard & Poor's 500 Index .SPX dropped 32.89 points, or 2.56 percent, to 1,254.05. The Nasdaq Composite Index .IXIC dropped 75.37 points, or 2.75 percent, to 2,669.24.
NYMEX-NEW YORK, Aug 2 (Reuters) - U.S. crude futures pared losses in post-settlement trading on Tuesday after industry data showed a large drawdown in crude stockpiles last week, against forecasts of a build.
Front-month September crude CLU1 had settled more than 1 percent lower to post a five-week low after data showed U.S. consumer spending dropped in June, feeding jitters about energy demand.
On the New York Mercantile Exchange, crude for September delivery settled at $93.79 a barrel, down $1.10, or 1.16 percent, the lowest since June 28's close at $92.89 CLc1. It traded between $93.17 and $95.68.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade closed sharply higher on spillover support from limit gains in corn as hot weather in the U.S. threatened the crop, leading to forecasts for low corn yields.
The top U.S. corn and soybean state of Iowa had its hottest July in 56 years, raising worries that crop yields could be hurt, especially corn that pollinated last month, the state climatologist said
FCPO-JAKARTA, Aug 2 (Reuters) - Malaysian palm oil futures ended slightly lower on Tuesday, as worries about the global economy and lower crude prices were offset by expectations of lower production and improving demand in the near-term.
The benchmark October contract KPOc3 on the Bursa Malaysia Derivatives Exchange closed 0.3 percent down at 3,113 ringgit ($1,059) per tonne after going as high as 3,130.
Traded volumes for the contract were 11,213 lots of 25 tonnes each, compared with 11,313 lots on Monday.
REGIONAL EQUITIES-BANGKOK, Aug 2 (Reuters) - Southeast Asian stock markets fell on Tuesday as jitters about the U.S. credit rating outlook limited appetite for risk and weak earnings hurt some shares, although foreign investors continued to buy in Indonesia and the Philippines.
Volume was moderate to light as sluggish U.S. manufacturing data worried markets already nervous about a possible downgrade of the AAA credit rating of the United States, even though a U.S. debt deal is likely to be passed by the Senate later.
Despite the falls, many markets in the region held close to peaks set on Monday after news from the United States of the last-minute deal to escape default.
Stocks in Singapore .FTSTI dropped 1.2 percent as Chinese shipbuilder COSCO Corp COSC.SI plunged 14.2 percent after it reported weak second-quarter earnings and warned about its outlook.
Other markets posted more limited losses, and even Singapore was still not far from four-month highs. Thai stocks .SETI were just below 15-year highs while Indonesia .JKSE and the Philippines .PSI were just shy of all-time highs.
The broad-based index fell for a seventh day and crashed through its key 200-day moving average in an ominous sign for markets. The seven days of losses mark the longest losing streak since October 2008.
The Dow Jones industrial average .DJI dropped 265.87 points, or 2.19 percent, to 11,866.62. The Standard & Poor's 500 Index .SPX dropped 32.89 points, or 2.56 percent, to 1,254.05. The Nasdaq Composite Index .IXIC dropped 75.37 points, or 2.75 percent, to 2,669.24.
NYMEX-NEW YORK, Aug 2 (Reuters) - U.S. crude futures pared losses in post-settlement trading on Tuesday after industry data showed a large drawdown in crude stockpiles last week, against forecasts of a build.
Front-month September crude CLU1 had settled more than 1 percent lower to post a five-week low after data showed U.S. consumer spending dropped in June, feeding jitters about energy demand.
On the New York Mercantile Exchange, crude for September delivery settled at $93.79 a barrel, down $1.10, or 1.16 percent, the lowest since June 28's close at $92.89 CLc1. It traded between $93.17 and $95.68.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade closed sharply higher on spillover support from limit gains in corn as hot weather in the U.S. threatened the crop, leading to forecasts for low corn yields.
The top U.S. corn and soybean state of Iowa had its hottest July in 56 years, raising worries that crop yields could be hurt, especially corn that pollinated last month, the state climatologist said
FCPO-JAKARTA, Aug 2 (Reuters) - Malaysian palm oil futures ended slightly lower on Tuesday, as worries about the global economy and lower crude prices were offset by expectations of lower production and improving demand in the near-term.
The benchmark October contract KPOc3 on the Bursa Malaysia Derivatives Exchange closed 0.3 percent down at 3,113 ringgit ($1,059) per tonne after going as high as 3,130.
Traded volumes for the contract were 11,213 lots of 25 tonnes each, compared with 11,313 lots on Monday.
REGIONAL EQUITIES-BANGKOK, Aug 2 (Reuters) - Southeast Asian stock markets fell on Tuesday as jitters about the U.S. credit rating outlook limited appetite for risk and weak earnings hurt some shares, although foreign investors continued to buy in Indonesia and the Philippines.
Volume was moderate to light as sluggish U.S. manufacturing data worried markets already nervous about a possible downgrade of the AAA credit rating of the United States, even though a U.S. debt deal is likely to be passed by the Senate later.
Despite the falls, many markets in the region held close to peaks set on Monday after news from the United States of the last-minute deal to escape default.
Stocks in Singapore .FTSTI dropped 1.2 percent as Chinese shipbuilder COSCO Corp COSC.SI plunged 14.2 percent after it reported weak second-quarter earnings and warned about its outlook.
Other markets posted more limited losses, and even Singapore was still not far from four-month highs. Thai stocks .SETI were just below 15-year highs while Indonesia .JKSE and the Philippines .PSI were just shy of all-time highs.
Tuesday, August 2, 2011
Trader's Highlight
DJI-NEW YORK, Aug 1 (Reuters) - The S&P 500 fell for a sixth day on Monday as time runs out for the government to pass a deal to avoid default and the economy showed further signs of stalling.
The market pared losses late in the day before Congress was expected to vote on Monday on a debt deal backed by the White House, which includes spending cuts of $2.4trillion over 10 years.
The Dow Jones industrial average .DJI dropped 10.75 points, or 0.09 percent, to 12,132.49. The Standard & Poor's 500 Index .SPX fell 5.34 points, or 0.41 percent, to 1,286.94. The Nasdaq Composite Index .IXIC lost 11.77 points, or 0.43 percent, to 2,744.61.
NYMEX-NEW YORK, Aug 1 (Reuters) - U.S. crude futures ended lower on Monday in volatile trading, giving up early gains after a weak reading from the Institute for Supply Management for its U.S. manufacturing index.
A tentative, White House-backed deal to raise the U.S. borrowing limit and avert an unprecedented debt default lifted oil prices early, before the disappointing manufacturing report weighed on crude and equities markets.
On the New York Mercantile Exchange, September crude CLU1 fell 81 cents, or 0.85 percent, to settle at $94.89 a barrel, the lowest close since ending at $93.46 on June 28. The close was below front-month crude's $94.94 200-day moving average.
CBOT-SOYBEANS-Chicago Board of Trade soybean futures closed higher on a rally in corn as hot weather threatened to trim output of each crop.
Portions of the U.S. corn and soybean growing region will stay stressed from heat this week, but relief was expected by the weekend, an agricultural meteorologist said on Monday.
FCPO-JAKARTA, Aug 1 (Reuters) - Malaysian palm oil futures extended gains on Monday, boosted by export data and as risk aversion eased after Washington reached a last-minute deal to raise the U.S. debt limit and escape default.
The benchmark October contract KPOc3 on the Bursa Malaysia Derivatives Exchange closed 0.8 percent higher at 3,121 Malaysian ringgit ($1,051.550) per tonne after going as high as 3,136.
Traded volumes for the contract were 11,313 lots of 25 tonnes each, compared to 11,125 lots on Friday.
REGIONAL EQUITIES-BANGKOK, Aug 1 (Reuters) - Major Southeast Asian stock markets pushed higher on Monday as investors snapped up financial and resource stocks in reporting season and markets cheered reports that the United States had reached a last-minute deal to escape default.
Worries about the U.S. debt crisis appeared to ease, sending sharemarkets to fresh peaks, including new all-time highs for stocks in Indonesia .JKSE and the Philippines .PSI.
Shares on both bourses gained around one percent on the day. Others posted smaller gains, with Thai stocks .SETI scaling 15-year highs and Singapore .FTSTI rising to its highest in almost six months.
In Singapore, property developer City Developments CTDM.SI rose 2.8 percent, buoyed by hopes that interest rates would stay put in the near term after Washington's deal to cut its deficit, traders said.
The market pared losses late in the day before Congress was expected to vote on Monday on a debt deal backed by the White House, which includes spending cuts of $2.4trillion over 10 years.
The Dow Jones industrial average .DJI dropped 10.75 points, or 0.09 percent, to 12,132.49. The Standard & Poor's 500 Index .SPX fell 5.34 points, or 0.41 percent, to 1,286.94. The Nasdaq Composite Index .IXIC lost 11.77 points, or 0.43 percent, to 2,744.61.
NYMEX-NEW YORK, Aug 1 (Reuters) - U.S. crude futures ended lower on Monday in volatile trading, giving up early gains after a weak reading from the Institute for Supply Management for its U.S. manufacturing index.
A tentative, White House-backed deal to raise the U.S. borrowing limit and avert an unprecedented debt default lifted oil prices early, before the disappointing manufacturing report weighed on crude and equities markets.
On the New York Mercantile Exchange, September crude CLU1 fell 81 cents, or 0.85 percent, to settle at $94.89 a barrel, the lowest close since ending at $93.46 on June 28. The close was below front-month crude's $94.94 200-day moving average.
CBOT-SOYBEANS-Chicago Board of Trade soybean futures closed higher on a rally in corn as hot weather threatened to trim output of each crop.
Portions of the U.S. corn and soybean growing region will stay stressed from heat this week, but relief was expected by the weekend, an agricultural meteorologist said on Monday.
FCPO-JAKARTA, Aug 1 (Reuters) - Malaysian palm oil futures extended gains on Monday, boosted by export data and as risk aversion eased after Washington reached a last-minute deal to raise the U.S. debt limit and escape default.
The benchmark October contract KPOc3 on the Bursa Malaysia Derivatives Exchange closed 0.8 percent higher at 3,121 Malaysian ringgit ($1,051.550) per tonne after going as high as 3,136.
Traded volumes for the contract were 11,313 lots of 25 tonnes each, compared to 11,125 lots on Friday.
REGIONAL EQUITIES-BANGKOK, Aug 1 (Reuters) - Major Southeast Asian stock markets pushed higher on Monday as investors snapped up financial and resource stocks in reporting season and markets cheered reports that the United States had reached a last-minute deal to escape default.
Worries about the U.S. debt crisis appeared to ease, sending sharemarkets to fresh peaks, including new all-time highs for stocks in Indonesia .JKSE and the Philippines .PSI.
Shares on both bourses gained around one percent on the day. Others posted smaller gains, with Thai stocks .SETI scaling 15-year highs and Singapore .FTSTI rising to its highest in almost six months.
In Singapore, property developer City Developments CTDM.SI rose 2.8 percent, buoyed by hopes that interest rates would stay put in the near term after Washington's deal to cut its deficit, traders said.
Monday, August 1, 2011
Trader's Highlight
DJI-NEW YORK, July 29 (Reuters) - Stocks ended the worst week in a year as time runs out on Washington to reach agreement before the U.S. government loses its ability to borrow money.
The S&P 500 fell every day this week and was down 3.9 percent for the week as legislators failed to work out an agreement to raise the federal borrowing limit, which expires on Tuesday. Investors also worry about the likelihood of a U.S. credit downgrade.
The Dow Jones industrial average .DJI was down 96.87 points, or 0.79 percent, at 12,143.24. The Standard & Poor's 500 Index .SPX was down 8.39 points, or 0.65 percent, at 1,292.28. The Nasdaq Composite Index .IXIC was down 9.87 points, or 0.36 percent, at 2,756.38.
NYMEX-NEW YORK, July 29 (Reuters) - U.S. crude oil futures ended down 1.79 percent on Friday, posting the lowest close in two weeks after data showed anemic second-quarter economic growth and Washington remained bogged down in its debt-limit debate.
The latest reading of how the economy has fared this year adds up to a poor first half. It raised the risk of a recession if Washington's the standoff on debt limit remain unresolved by Aug. 2.
On the New York Mercantile Exchange, crude for September delivery CLU1 settled down $1.74 at $95.70 a barrel, the lowest close since July 14's $95.69. It traded from $94.95 to $97.39 in light volume.
CBOT-CHICAGO, July 29 (Reuters) - Chicago Board of Trade soybean futures slipped 1.2 percent on Friday on some rainy weather in the U.S. Midwest that raised expectations for this year's harvest, traders said.
Concerns about economic uncertainty related to the deadlocked U.S. debt talks also pressured the market on Friday. CBOT soybean futures rose 3.4 percent in July, breaking a streak of three straight monthly declines. Soybeans ended the week down 1.9 percent, their second straight week of declines.
FCPO-KUALA LUMPUR, July 29 (Reuters) - Malaysian palm oil futures fell on Friday, but ended the month up almost 1 9 percent, on concerns that the United States may not meet an Aug. 2 deadline to raise its debt limit, hitting global economic growth.
A possible U.S. sovereign credit rating downgrade if the deadline is missed has weighed on financial markets, adding to weak sentiment in palm oil futures which had posted it first weekly drop in four.
Favourable crop weather in the U.S. grain-growing areas, as well as high palm oil stocks in Malaysia and Indonesia also weighed on the market.
The benchmark October contract KPOc3 on the Bursa Malaysia Derivatives Exchange fell 0.6 percent or 20 ringgit to 3,096 ringgit ($1,050.) per tonne after going as low as 3,080 ringgit a level unseen since July 19.
Traded volumes fell to 22,365 lots of 25 tonnes each, compared to the usual 25,000 lots, as investors remained cautious.
REGIONAL EQUITIES-BANGKOK, July 29 (Reuters) - Most Southeast Asian stock markets edged down in moderate to light volume on Friday as investors worried about the possible outcome to the U.S. debt problems and some big caps retreated as results failed to attract fresh buying interest.
Despite the bearish session, foreign investor appetite for the region appears to be growing. Indonesia, the Philippines, Vietnam and Thailand all enjoyed inflows on Friday.
Optimism about the emerging Southeast Asian economy and corporate earnings helped send the region to new highs this month, including a record high in Indonesia, Thailand's 15-year highs and Singapore's three-month highs.
The S&P 500 fell every day this week and was down 3.9 percent for the week as legislators failed to work out an agreement to raise the federal borrowing limit, which expires on Tuesday. Investors also worry about the likelihood of a U.S. credit downgrade.
The Dow Jones industrial average .DJI was down 96.87 points, or 0.79 percent, at 12,143.24. The Standard & Poor's 500 Index .SPX was down 8.39 points, or 0.65 percent, at 1,292.28. The Nasdaq Composite Index .IXIC was down 9.87 points, or 0.36 percent, at 2,756.38.
NYMEX-NEW YORK, July 29 (Reuters) - U.S. crude oil futures ended down 1.79 percent on Friday, posting the lowest close in two weeks after data showed anemic second-quarter economic growth and Washington remained bogged down in its debt-limit debate.
The latest reading of how the economy has fared this year adds up to a poor first half. It raised the risk of a recession if Washington's the standoff on debt limit remain unresolved by Aug. 2.
On the New York Mercantile Exchange, crude for September delivery CLU1 settled down $1.74 at $95.70 a barrel, the lowest close since July 14's $95.69. It traded from $94.95 to $97.39 in light volume.
CBOT-CHICAGO, July 29 (Reuters) - Chicago Board of Trade soybean futures slipped 1.2 percent on Friday on some rainy weather in the U.S. Midwest that raised expectations for this year's harvest, traders said.
Concerns about economic uncertainty related to the deadlocked U.S. debt talks also pressured the market on Friday. CBOT soybean futures rose 3.4 percent in July, breaking a streak of three straight monthly declines. Soybeans ended the week down 1.9 percent, their second straight week of declines.
FCPO-KUALA LUMPUR, July 29 (Reuters) - Malaysian palm oil futures fell on Friday, but ended the month up almost 1 9 percent, on concerns that the United States may not meet an Aug. 2 deadline to raise its debt limit, hitting global economic growth.
A possible U.S. sovereign credit rating downgrade if the deadline is missed has weighed on financial markets, adding to weak sentiment in palm oil futures which had posted it first weekly drop in four.
Favourable crop weather in the U.S. grain-growing areas, as well as high palm oil stocks in Malaysia and Indonesia also weighed on the market.
The benchmark October contract KPOc3 on the Bursa Malaysia Derivatives Exchange fell 0.6 percent or 20 ringgit to 3,096 ringgit ($1,050.) per tonne after going as low as 3,080 ringgit a level unseen since July 19.
Traded volumes fell to 22,365 lots of 25 tonnes each, compared to the usual 25,000 lots, as investors remained cautious.
REGIONAL EQUITIES-BANGKOK, July 29 (Reuters) - Most Southeast Asian stock markets edged down in moderate to light volume on Friday as investors worried about the possible outcome to the U.S. debt problems and some big caps retreated as results failed to attract fresh buying interest.
Despite the bearish session, foreign investor appetite for the region appears to be growing. Indonesia, the Philippines, Vietnam and Thailand all enjoyed inflows on Friday.
Optimism about the emerging Southeast Asian economy and corporate earnings helped send the region to new highs this month, including a record high in Indonesia, Thailand's 15-year highs and Singapore's three-month highs.
Thursday, July 28, 2011
Breaking News-RTRS - Stubbornly high stocks to drag on palm oil futures-Mistry
KUALA LUMPUR, July 28 (Reuters) - Palm oil futures KPOc3 could drop as low as 2,800 Malaysian ringgit ($947.55) in September as stocks in No. 2 producer Malaysia remain stubbornly high, a top analyst said on Thursday.
That represents a drop of around 29 percent from 2011 high of 3,967 ringgit in February as Godrej International's Dorab Mistry said a high output cycle remains in force and will lead to record high stocks for Malaysia by early December.
But price declines could be limited as a palm oil discount to competing soyoil would widen to a new 2011 peak of $250 per tonne, kicking in more demand, Mistry said. The narrowest discount stood at $2 per tonne in late February, according to Reuters data.
That represents a drop of around 29 percent from 2011 high of 3,967 ringgit in February as Godrej International's Dorab Mistry said a high output cycle remains in force and will lead to record high stocks for Malaysia by early December.
But price declines could be limited as a palm oil discount to competing soyoil would widen to a new 2011 peak of $250 per tonne, kicking in more demand, Mistry said. The narrowest discount stood at $2 per tonne in late February, according to Reuters data.
Breaking News-RTRS - Indonesia may cut maximum palm oil export tax rate-official
JAKARTA, July 27 (Reuters) - Indonesia, the world's No. 1 palm oil producer is eyeing a lower maximum palm export tax rate, now 25 percent, as early as next month, Bambang Brojonegoro, head of the fiscal policy section at the finance ministry, said on Wednesday.
The palm oil market has been abuzz with talk that Jakarta may cut the top tax rate to 20 percent or 22.5 percent.
The palm oil market has been abuzz with talk that Jakarta may cut the top tax rate to 20 percent or 22.5 percent.
Trader's Highlight
DJI-NEW YORK, July 26 (Reuters) - The stalemate in U.S. debt talks dragged down stocks for a second day on Tuesday, and light volume showed investors remained reluctant to make bets despite another round of healthy earnings.
Declining issues solidly outpaced advancing ones, even though major averages showed mostly modest declines.
A failure to raise the U.S. debt limit by an Aug. 2 deadline could roil markets and hurt the economy if the United States puts off paying bills. Democrats and Republicans continued to joust on Tuesday over which side's plan has the better chance of passage.
At the close, the Dow Jones industrial average .DJI was down 91.50 points, or 0.73 percent, at 12,501.30. The Standard & Poor's 500 Index .SPX was down 5.49 points, or 0.41 percent, at 1,331.94. The Nasdaq Composite Index .IXIC was down 2.84 points, or 0.10 percent, at 2,839.96.
NYMEX-NEW YORK, July 27 (Reuters) - U.S. crude futures fell 2.2 percent on Wednesday after a surprise increase in domestic crude inventories and on concern that the unsettled debate about the U.S. debt limit may lead to curbed economic growth.
U.S. crude stocks rose 2.3 million barrels last week, the U.S. Energy Information Administration's weekly oil inventory report said, against a forecast for stocks to be down.
On the New York Mercantile Exchange, September crude CLU1 fell $2.19, or 2.2 percent, to settle at $97.40 a barrel, trading as high as $99.50. Prices fell to a low of $97.17 in post-settlement trading.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell on forecasts for increased rains in the U.S. Midwest next week, along with a rally in the U.S. dollar, traders said.
The dollar rebounded as investors took a break from selling, though uncertainty around U.S. debt negotiations may limit the rally.
FCPO-KUALA LUMPUR, July 27 (Reuters) - Malaysia palm oil futures rose 0.4 percent in light trade on Wednesday on strong soy markets as China resumed buying and dry weather in the United States, although gains were limited over concerns of a looming U.S. debt crisis.
A Republican plan to try to break a congressional deadlock over raising the U.S. debt limit stumbled amid delays and a revolt by fiscal conservatives on Tuesday, narrowing the chances for a deal to avert a default and forcing investors to flee to safe-haven assets.
Palm oil, which has lost 17.3 percent so far this year, has been rather steady as traders look out for industry analyst Dorab Mistry presenting his price outlook in Sydney on Thursday.
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives rose 11 ringgit to 3,130 ringgit ($1,059.222) per tonne.
Overall traded volume fell to 18,512 lots of 25 tonnes each from the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, July 27 (Reuters) - Southeast Asian stock markets pushed higher in moderate volume on Wednesday as optimism over earnings helped lift appetite for financial stocks and big-caps although the deadlock in the U.S. debt talks remained a worry.
Stocks in Indonesia .JKSE set fresh all-time highs and Thailand .SETI scaled another 15-year peak amid fund inflows and as emerging market currencies strengthened against the dollar.
Indonesia climbed 1 percent and Thailand rose 0.8 percent. Singapore .FTSTI and Philippine shares .PSI edged up slightly. Malaysia .KLSE bucked the trend, erasing early gains to end a tad lower.
In Singapore, casino operator Genting Singapore GENS.SI surged 6.1 percent after rival Las Vegas Sands LVS.N reported strong earnings from its Marina Bay Sands casino in the city-state.
Declining issues solidly outpaced advancing ones, even though major averages showed mostly modest declines.
A failure to raise the U.S. debt limit by an Aug. 2 deadline could roil markets and hurt the economy if the United States puts off paying bills. Democrats and Republicans continued to joust on Tuesday over which side's plan has the better chance of passage.
At the close, the Dow Jones industrial average .DJI was down 91.50 points, or 0.73 percent, at 12,501.30. The Standard & Poor's 500 Index .SPX was down 5.49 points, or 0.41 percent, at 1,331.94. The Nasdaq Composite Index .IXIC was down 2.84 points, or 0.10 percent, at 2,839.96.
NYMEX-NEW YORK, July 27 (Reuters) - U.S. crude futures fell 2.2 percent on Wednesday after a surprise increase in domestic crude inventories and on concern that the unsettled debate about the U.S. debt limit may lead to curbed economic growth.
U.S. crude stocks rose 2.3 million barrels last week, the U.S. Energy Information Administration's weekly oil inventory report said, against a forecast for stocks to be down.
On the New York Mercantile Exchange, September crude CLU1 fell $2.19, or 2.2 percent, to settle at $97.40 a barrel, trading as high as $99.50. Prices fell to a low of $97.17 in post-settlement trading.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell on forecasts for increased rains in the U.S. Midwest next week, along with a rally in the U.S. dollar, traders said.
The dollar rebounded as investors took a break from selling, though uncertainty around U.S. debt negotiations may limit the rally.
FCPO-KUALA LUMPUR, July 27 (Reuters) - Malaysia palm oil futures rose 0.4 percent in light trade on Wednesday on strong soy markets as China resumed buying and dry weather in the United States, although gains were limited over concerns of a looming U.S. debt crisis.
A Republican plan to try to break a congressional deadlock over raising the U.S. debt limit stumbled amid delays and a revolt by fiscal conservatives on Tuesday, narrowing the chances for a deal to avert a default and forcing investors to flee to safe-haven assets.
Palm oil, which has lost 17.3 percent so far this year, has been rather steady as traders look out for industry analyst Dorab Mistry presenting his price outlook in Sydney on Thursday.
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives rose 11 ringgit to 3,130 ringgit ($1,059.222) per tonne.
Overall traded volume fell to 18,512 lots of 25 tonnes each from the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, July 27 (Reuters) - Southeast Asian stock markets pushed higher in moderate volume on Wednesday as optimism over earnings helped lift appetite for financial stocks and big-caps although the deadlock in the U.S. debt talks remained a worry.
Stocks in Indonesia .JKSE set fresh all-time highs and Thailand .SETI scaled another 15-year peak amid fund inflows and as emerging market currencies strengthened against the dollar.
Indonesia climbed 1 percent and Thailand rose 0.8 percent. Singapore .FTSTI and Philippine shares .PSI edged up slightly. Malaysia .KLSE bucked the trend, erasing early gains to end a tad lower.
In Singapore, casino operator Genting Singapore GENS.SI surged 6.1 percent after rival Las Vegas Sands LVS.N reported strong earnings from its Marina Bay Sands casino in the city-state.
Wednesday, July 27, 2011
Trader's Highlight
DJI-NEW YORK, July 26 (Reuters) - The stalemate in U.S. debt talks dragged down stocks for a second day on Tuesday, and light volume showed investors remained reluctant to make bets despite another round of healthy earnings.
Declining issues solidly outpaced advancing ones, even though major averages showed mostly modest declines.
A failure to raise the U.S. debt limit by an Aug. 2 deadline could roil markets and hurt the economy if the United States puts off paying bills. Democrats and Republicans continued to joust on Tuesday over which side's plan has the better chance of passage.
At the close, the Dow Jones industrial average .DJI was down 91.50 points, or 0.73 percent, at 12,501.30. The Standard & Poor's 500 Index .SPX was down 5.49 points, or 0.41 percent, at 1,331.94. The Nasdaq Composite Index .IXIC was down 2.84 points, or 0.10 percent, at 2,839.96.
NYMEX-NEW YORK, July 26 (Reuters) - U.S. crude oil futures rose on Tuesday as the dollar weakened, encouraging investors to buy riskier assets.
Technical support also spurred buying, helping push up oil futures. Trading volume was moderate as many investors awaited outcome of the stalemated debt talks in Washington.
On the New York Mercantile Exchange, September light sweet crude CLU1 for September delivery settled at $99.59 a barrel, gaining 39 cents, or 0.39 percent, trading from $97.76 to $100.62, the highest level since the June 10 intraday high of $102.15.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended higher, rebounding from Monday's fall on a drop in U.S. soy crop ratings and outlooks for hot and dry weather in the southern Midwest, traders said.
The U.S. Department of Agriculture late on Monday said 62 percent of the U.S. soybean crop was rated in good to excellent condition, down from 64 percent the previous week.
FCPO-KUALA LUMPUR, July 26 (Reuters) - Malaysian palm oil futures bounced back in light trade on Tuesday as investors bet on talk of slower production due to drier weather in major planting areas, although uncertainty about the global economy still weighed.
Output in major producing countries is expected to start slowing during the one-month fasting observance as many Muslim estate workers take a break for a key holiday, Eid Al-Fitr.
The benchmark crude palm oil contract KPOc3 on Bursa Malaysia Derivatives closed 0.6 percent, or 19 ringgit, higher to 3,119 ringgit ($1,049) per tonne.
Overall traded volume was almost halved to 12,932 lots of 25 tonnes each from the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, July 26 (Reuters) - Major Southeast Asian stock markets were mostly higher on Tuesday as investors bought financial stocks and big caps at the start of the reporting season but caution prevailed, with the U.S. debt ceiling negotiations still in deadlock.
The positive outlook for the economy and corporate earnings in the region helped sentiment and strong buying sent stocks in Indonesia .JKSE 1.1 percent higher to a record high, with turnover double the 30-day average.
Others posted more limited gains in moderate volume, with Singapore .FTSTI edging up 0.5 percent to three-month highs and Malaysia .KLSE inching up 0.14 percent. Thai .SETI and Philippine shares .PSI erased early gains to end lower.
Investors were reluctant to chase the region much higher amid fears that squabbling U.S. politicians would not be able to agree on a debt ceiling deal in time to avoid a default.
Declining issues solidly outpaced advancing ones, even though major averages showed mostly modest declines.
A failure to raise the U.S. debt limit by an Aug. 2 deadline could roil markets and hurt the economy if the United States puts off paying bills. Democrats and Republicans continued to joust on Tuesday over which side's plan has the better chance of passage.
At the close, the Dow Jones industrial average .DJI was down 91.50 points, or 0.73 percent, at 12,501.30. The Standard & Poor's 500 Index .SPX was down 5.49 points, or 0.41 percent, at 1,331.94. The Nasdaq Composite Index .IXIC was down 2.84 points, or 0.10 percent, at 2,839.96.
NYMEX-NEW YORK, July 26 (Reuters) - U.S. crude oil futures rose on Tuesday as the dollar weakened, encouraging investors to buy riskier assets.
Technical support also spurred buying, helping push up oil futures. Trading volume was moderate as many investors awaited outcome of the stalemated debt talks in Washington.
On the New York Mercantile Exchange, September light sweet crude CLU1 for September delivery settled at $99.59 a barrel, gaining 39 cents, or 0.39 percent, trading from $97.76 to $100.62, the highest level since the June 10 intraday high of $102.15.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended higher, rebounding from Monday's fall on a drop in U.S. soy crop ratings and outlooks for hot and dry weather in the southern Midwest, traders said.
The U.S. Department of Agriculture late on Monday said 62 percent of the U.S. soybean crop was rated in good to excellent condition, down from 64 percent the previous week.
FCPO-KUALA LUMPUR, July 26 (Reuters) - Malaysian palm oil futures bounced back in light trade on Tuesday as investors bet on talk of slower production due to drier weather in major planting areas, although uncertainty about the global economy still weighed.
Output in major producing countries is expected to start slowing during the one-month fasting observance as many Muslim estate workers take a break for a key holiday, Eid Al-Fitr.
The benchmark crude palm oil contract KPOc3 on Bursa Malaysia Derivatives closed 0.6 percent, or 19 ringgit, higher to 3,119 ringgit ($1,049) per tonne.
Overall traded volume was almost halved to 12,932 lots of 25 tonnes each from the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, July 26 (Reuters) - Major Southeast Asian stock markets were mostly higher on Tuesday as investors bought financial stocks and big caps at the start of the reporting season but caution prevailed, with the U.S. debt ceiling negotiations still in deadlock.
The positive outlook for the economy and corporate earnings in the region helped sentiment and strong buying sent stocks in Indonesia .JKSE 1.1 percent higher to a record high, with turnover double the 30-day average.
Others posted more limited gains in moderate volume, with Singapore .FTSTI edging up 0.5 percent to three-month highs and Malaysia .KLSE inching up 0.14 percent. Thai .SETI and Philippine shares .PSI erased early gains to end lower.
Investors were reluctant to chase the region much higher amid fears that squabbling U.S. politicians would not be able to agree on a debt ceiling deal in time to avoid a default.
Tuesday, July 26, 2011
Trader's Highlight
DJI-NEW YORK, July 25 (Reuters) - U.S. stocks dipped on Monday as lawmakers remained in a standoff over raising the debt ceiling to avoid default, but investors were convinced a compromise will be reached before next week's critical deadline.
Trading volume, however, was light even for a seasonally quiet period, suggesting investors were holding to the sidelines. In another sign of negative sentiment, declining stocks far outpaced advancers despite the day's moderate declines.
Lawmakers are facing an Aug. 2 deadline to raise the $14.3 trillion debt ceiling to avert a U.S. default.
The Dow Jones industrial average .DJI was down 88.36 points, or 0.70 percent, at 12,592.80. The Standard & Poor's 500 Index .SPX was down 7.59 points, or 0.56 percent, at 1,337.43. The Nasdaq Composite Index .IXIC was down 16.03 points, or 0.56percent, at 2,842.80.
NYMEX-NEW YORK, July 25 (Reuters) - U.S. crude oil futures ended lower on Monday as investors turned cautious due to stalled talks in Washington over a deal to raise the government debt limit to avoid a default by Aug. 2.
Trading volume was 41 percent below the 30-day average, suggesting investors were keeping to the sidelines as Washington debates the debt ceiling.
On the New York Mercantile Exchange, crude for September delivery CLU1 settled at $99.20 a barrel, falling 67 cents, or 0.67 percent, after trading from $98.52 to $99.87.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell 1.2 percent on the biggest single-day drop since June 30, on improved crop weather and worries over U.S. debt, traders said.
Grains and other commodities pressured as the inability of the U.S. Congress to reach agreement on raising the government debt limit kept investors wary of risky assets and concerned about the global economy.
FCPO-KUALA LUMPUR, July 25 (Reuters) - Malaysian palm oil futures dropped on Monday as traders booked profit after pricing in firm exports and eyed growing concerns of a U.S. debt default that may slow global economic growth and demand.
The palm oil market has been choppy in the past few days and could come under more pressure due to mounting worries about U.S. debt. The market has lost more than 18 percent so far this year on higher production in top suppliers Indonesia and Malaysia.
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives had fallen 1.3 percent, or 40 ringgit, to 3,100 ringgit ($1,042.017) per tonne.
Overall traded volume rose to 27,685 lots of 25 tonnes each from the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, July 25 (Reuters) - Southeast Asian stock markets were mostly flat to lower on Monday as concern over a potential U.S. debt default hurt sentiment, but investors bought banks, seen as the best bet in a region where interest rates are on the rise.
Regional equities were subdued as debt talks continued in Washington, keeping investors nervous ahead of a deadline of Aug. 2. Stocks in Indonesia .JKSE, which struck record highs last week due to foreign inflows, edged down 0.5 percent.
Singapore .FTSTI and Malaysia .KLSE also edged slightly lower, while Thailand .SETI, the Philippines .PSI and Vietnam .VNI recouped early losses to end in positive territory.
Trading volume was generally moderate to weak, the most active market being Indonesia with 1.6 times its 30-day average, but turnover in Singapore and Malaysia fell to around 0.8 times their 30-day average.
Brokers say economic growth in Asia has been relatively resilient to U.S. and European troubles, making Asia's outlook promising, but markets in the region may be choppy in the short term due to the negative impact of the U.S. debt crisis.
CIMB Securities is positive on Southeast Asia, with an overweight rating on Indonesia as its strong economic fundmentals bode well for corporate earnings.
Trading volume, however, was light even for a seasonally quiet period, suggesting investors were holding to the sidelines. In another sign of negative sentiment, declining stocks far outpaced advancers despite the day's moderate declines.
Lawmakers are facing an Aug. 2 deadline to raise the $14.3 trillion debt ceiling to avert a U.S. default.
The Dow Jones industrial average .DJI was down 88.36 points, or 0.70 percent, at 12,592.80. The Standard & Poor's 500 Index .SPX was down 7.59 points, or 0.56 percent, at 1,337.43. The Nasdaq Composite Index .IXIC was down 16.03 points, or 0.56percent, at 2,842.80.
NYMEX-NEW YORK, July 25 (Reuters) - U.S. crude oil futures ended lower on Monday as investors turned cautious due to stalled talks in Washington over a deal to raise the government debt limit to avoid a default by Aug. 2.
Trading volume was 41 percent below the 30-day average, suggesting investors were keeping to the sidelines as Washington debates the debt ceiling.
On the New York Mercantile Exchange, crude for September delivery CLU1 settled at $99.20 a barrel, falling 67 cents, or 0.67 percent, after trading from $98.52 to $99.87.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade fell 1.2 percent on the biggest single-day drop since June 30, on improved crop weather and worries over U.S. debt, traders said.
Grains and other commodities pressured as the inability of the U.S. Congress to reach agreement on raising the government debt limit kept investors wary of risky assets and concerned about the global economy.
FCPO-KUALA LUMPUR, July 25 (Reuters) - Malaysian palm oil futures dropped on Monday as traders booked profit after pricing in firm exports and eyed growing concerns of a U.S. debt default that may slow global economic growth and demand.
The palm oil market has been choppy in the past few days and could come under more pressure due to mounting worries about U.S. debt. The market has lost more than 18 percent so far this year on higher production in top suppliers Indonesia and Malaysia.
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives had fallen 1.3 percent, or 40 ringgit, to 3,100 ringgit ($1,042.017) per tonne.
Overall traded volume rose to 27,685 lots of 25 tonnes each from the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, July 25 (Reuters) - Southeast Asian stock markets were mostly flat to lower on Monday as concern over a potential U.S. debt default hurt sentiment, but investors bought banks, seen as the best bet in a region where interest rates are on the rise.
Regional equities were subdued as debt talks continued in Washington, keeping investors nervous ahead of a deadline of Aug. 2. Stocks in Indonesia .JKSE, which struck record highs last week due to foreign inflows, edged down 0.5 percent.
Singapore .FTSTI and Malaysia .KLSE also edged slightly lower, while Thailand .SETI, the Philippines .PSI and Vietnam .VNI recouped early losses to end in positive territory.
Trading volume was generally moderate to weak, the most active market being Indonesia with 1.6 times its 30-day average, but turnover in Singapore and Malaysia fell to around 0.8 times their 30-day average.
Brokers say economic growth in Asia has been relatively resilient to U.S. and European troubles, making Asia's outlook promising, but markets in the region may be choppy in the short term due to the negative impact of the U.S. debt crisis.
CIMB Securities is positive on Southeast Asia, with an overweight rating on Indonesia as its strong economic fundmentals bode well for corporate earnings.
Monday, July 25, 2011
Trader's Highlight
DJI-NEW YORK, July 22 (Reuters) - Investors poured into tech shares on Friday as promising chipmaker earnings and optimism that a solution was on the horizon for the U.S. debt stalemate triggered a move into growth-oriented shares.
The Dow was held back by Caterpillar Inc CAT.N, with shares of the heavy equipment maker falling 5.8 percent on disappointing results. The stock exerted a 48.6-point drag on the Dow, which ended off 43 points.
The benchmark S&P 500 index rose 2.2 percent for the week, lifted by strong earnings and a new bailout plan for Greece to contain Europe's debt crisis. Stocks have been restrained, however, by the long slog of negotiations to resolve the U.S. debt crisis.
The Dow Jones industrial average .DJI dropped 43.25 points, or 0.34 percent, to 12,681.16. The Standard & Poor's 500 Index .SPX added 1.22 points, or 0.09 percent, to 1,345.02. The Nasdaq Composite Index .IXIC gained 24.40 points, or 0.86 percent, to 2,858.83.
NYMEX-NEW YORK, July 22 (Reuters) - U.S. crude oil futures settled at a six-week high just below $100 a barrel on Friday, buoyed by a sharp rebound in refined product futures.
A late slew of pre-weekend short-covering also pulled crude futures higher. Gasoline and heating oil futures gained on spread trading as they tracked higher Brent crude futures.
On the New York Mercantile Exchange, crude for September delivery CLU1 settled at $99.87 a barrel, gaining 74 cents, or 0.75 percent, the highest since June 9's close at $101.93.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade closed firm following a rally in corn as heat in the Midwest threatened the pollinating corn crop.
Cooler temperatures and showers in parts of the U.S. Midwest late this week will provide crops with only minor relief from stress - agricultural meteorologist
FCPO-KUALA LUMPUR, July 22 (Reuters) - Malaysian palm oil futures bounced on Friday as firmer overseas markets and fresh talk of a dip in production lifted sentiment.
The palm oil market has been choppy in the past week as concerns over the U.S. and euro debt crisis deepened this week. It has lost 17 percent so far this year thanks to higher supply although a possible slowdown in output in July and August could recover some losses.
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives ended up 0.3 percent to 3,140 Malaysian ringgit ($1,048.414) per tonne.
Overall traded volume fell to 20,235 lots of 25 tonnes each from the usual 25,000 lots.
REGIONAL EQUITIES-HONG KONG, July 22 (Reuters) - Thai stocks outperformed in Southeast Asia on Friday, up 1.5 percent, as they continued to play catch-up to the region, helped by foreign buying, while Indonesia's benchmark hit another record high.
Southeast Asian markets are Asia's top performers this year thanks to strong economic and corporate fundamentals, as investors try to side-step problems affecting other markets such as China and India.
Malaysian .KLSE and Philippine markets .PSI ended the day little changed.
The Dow was held back by Caterpillar Inc CAT.N, with shares of the heavy equipment maker falling 5.8 percent on disappointing results. The stock exerted a 48.6-point drag on the Dow, which ended off 43 points.
The benchmark S&P 500 index rose 2.2 percent for the week, lifted by strong earnings and a new bailout plan for Greece to contain Europe's debt crisis. Stocks have been restrained, however, by the long slog of negotiations to resolve the U.S. debt crisis.
The Dow Jones industrial average .DJI dropped 43.25 points, or 0.34 percent, to 12,681.16. The Standard & Poor's 500 Index .SPX added 1.22 points, or 0.09 percent, to 1,345.02. The Nasdaq Composite Index .IXIC gained 24.40 points, or 0.86 percent, to 2,858.83.
NYMEX-NEW YORK, July 22 (Reuters) - U.S. crude oil futures settled at a six-week high just below $100 a barrel on Friday, buoyed by a sharp rebound in refined product futures.
A late slew of pre-weekend short-covering also pulled crude futures higher. Gasoline and heating oil futures gained on spread trading as they tracked higher Brent crude futures.
On the New York Mercantile Exchange, crude for September delivery CLU1 settled at $99.87 a barrel, gaining 74 cents, or 0.75 percent, the highest since June 9's close at $101.93.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade closed firm following a rally in corn as heat in the Midwest threatened the pollinating corn crop.
Cooler temperatures and showers in parts of the U.S. Midwest late this week will provide crops with only minor relief from stress - agricultural meteorologist
FCPO-KUALA LUMPUR, July 22 (Reuters) - Malaysian palm oil futures bounced on Friday as firmer overseas markets and fresh talk of a dip in production lifted sentiment.
The palm oil market has been choppy in the past week as concerns over the U.S. and euro debt crisis deepened this week. It has lost 17 percent so far this year thanks to higher supply although a possible slowdown in output in July and August could recover some losses.
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives ended up 0.3 percent to 3,140 Malaysian ringgit ($1,048.414) per tonne.
Overall traded volume fell to 20,235 lots of 25 tonnes each from the usual 25,000 lots.
REGIONAL EQUITIES-HONG KONG, July 22 (Reuters) - Thai stocks outperformed in Southeast Asia on Friday, up 1.5 percent, as they continued to play catch-up to the region, helped by foreign buying, while Indonesia's benchmark hit another record high.
Southeast Asian markets are Asia's top performers this year thanks to strong economic and corporate fundamentals, as investors try to side-step problems affecting other markets such as China and India.
Malaysian .KLSE and Philippine markets .PSI ended the day little changed.
Friday, July 22, 2011
Trader's Highlight
DJI-NEW YORK, July 21 (Reuters) - U.S. stocks climbed on Thursday as signs of progress on the U.S. debt talks and concrete action from Europe on its own debt crisis heartened investors.
Unexpectedly robust earnings results from Morgan Stanley MS.N, whose shares rose 11 percent to $24.20, extended a relief rally in bank stocks after Goldman Sachs' dismal trading profits stunned the market earlier in the week.
The Dow Jones industrial average .DJI gained 152.50 points, or 1.21 percent, to 12,724.41. The Standard & Poor's 500 Index .SPX rose 17.96 points, or 1.35 percent, to 1,343.80. The Nasdaq Composite Index .IXIC advanced 20.20 points, or 0.72 percent, to 2,834.43.
NYMEX-NEW YORK, July 21 (Reuters) - U.S. crude oil futures rose for a third day on Thursday to close at a four-week high above $99 a barrel as mid-Atlantic region manufacturing rebounded in July, outweighing higher jobless claims last week.
In post-settlement trading, news of a concrete action from European Union leaders on how to help Greece's deal with its debt troubles helped push the stock market higher and in turn firmed up crude futures prices.
On the New York Mercantile Exchange, crude for September delivery CLU1 settled at $99.13 a barrel, up 73 cents, or 0.74 percent, the highest since June 14 close at $99.37 CLc1. Late profit-taking trimmed gain.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended firm, buoyed by short-covering as traders unwound long corn/short soybean spreads, brokers said.
Soybeans also drew support from a three-day decline in the U.S. dollar index .DXY, and from strength in crude oil.
FCPO-KUALA LUMPUR, Jul 21 (Reuters) - Malaysian palm oil futures fell on Thursday after hitting a one-month high earlier in the session as weak economic Chinese data erased gains made on higher export hopes.
Commodity markets come under pressure after weak economic data from the world's top commodities buyer China signalled some weaker demand in the months to come.
The HSBC flash PMI, the earliest available indicator of industrial activity in China fell to 48.9 in July, its lowest since March 2009, as monetary policy tightening and slack global demand weighed on the economy
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives touched one-month highs of 3,164 ringgit before paring some gains to end 23 ringgit lower at 3,130 ringgit ($1,044.186).
Overall traded volume stood at 22,636 lots of 25 tonnes each, below the usual 25,000 lots.
REGIONAL EQUITIES-SINGAPORE, July 21 (Reuters) - Indonesian stocks hit a record high and Thai stocks touched a three-month peak on Thursday as foreigners continued to buy Bangkok shares, helping Southeast Asian stocks outperform other Asian bourses, which were hit by weak Chinese manufacturing data.
Trading volume in most of the region exceeded the 30-day moving average, indicating investors' strong appetite and suggesting further near-term gains.
But valuations may cause performance to diverge in the region, some analysts said.
Singapore shares turned higher to touch a two-week high on easing concerns about Greece's debt problems after news about a Franco-German accord on the crisis.
Unexpectedly robust earnings results from Morgan Stanley MS.N, whose shares rose 11 percent to $24.20, extended a relief rally in bank stocks after Goldman Sachs' dismal trading profits stunned the market earlier in the week.
The Dow Jones industrial average .DJI gained 152.50 points, or 1.21 percent, to 12,724.41. The Standard & Poor's 500 Index .SPX rose 17.96 points, or 1.35 percent, to 1,343.80. The Nasdaq Composite Index .IXIC advanced 20.20 points, or 0.72 percent, to 2,834.43.
NYMEX-NEW YORK, July 21 (Reuters) - U.S. crude oil futures rose for a third day on Thursday to close at a four-week high above $99 a barrel as mid-Atlantic region manufacturing rebounded in July, outweighing higher jobless claims last week.
In post-settlement trading, news of a concrete action from European Union leaders on how to help Greece's deal with its debt troubles helped push the stock market higher and in turn firmed up crude futures prices.
On the New York Mercantile Exchange, crude for September delivery CLU1 settled at $99.13 a barrel, up 73 cents, or 0.74 percent, the highest since June 14 close at $99.37 CLc1. Late profit-taking trimmed gain.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended firm, buoyed by short-covering as traders unwound long corn/short soybean spreads, brokers said.
Soybeans also drew support from a three-day decline in the U.S. dollar index .DXY, and from strength in crude oil.
FCPO-KUALA LUMPUR, Jul 21 (Reuters) - Malaysian palm oil futures fell on Thursday after hitting a one-month high earlier in the session as weak economic Chinese data erased gains made on higher export hopes.
Commodity markets come under pressure after weak economic data from the world's top commodities buyer China signalled some weaker demand in the months to come.
The HSBC flash PMI, the earliest available indicator of industrial activity in China fell to 48.9 in July, its lowest since March 2009, as monetary policy tightening and slack global demand weighed on the economy
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives touched one-month highs of 3,164 ringgit before paring some gains to end 23 ringgit lower at 3,130 ringgit ($1,044.186).
Overall traded volume stood at 22,636 lots of 25 tonnes each, below the usual 25,000 lots.
REGIONAL EQUITIES-SINGAPORE, July 21 (Reuters) - Indonesian stocks hit a record high and Thai stocks touched a three-month peak on Thursday as foreigners continued to buy Bangkok shares, helping Southeast Asian stocks outperform other Asian bourses, which were hit by weak Chinese manufacturing data.
Trading volume in most of the region exceeded the 30-day moving average, indicating investors' strong appetite and suggesting further near-term gains.
But valuations may cause performance to diverge in the region, some analysts said.
Singapore shares turned higher to touch a two-week high on easing concerns about Greece's debt problems after news about a Franco-German accord on the crisis.
Thursday, July 21, 2011
Trader's Highlight
DJI-NEW YORK, July 20 (Reuters) - U.S. stocks closed near unchanged on Wednesday, a day after Wall Street's best rally since March, as the oncoming debt ceiling deadline overshadowed strong earnings from Apple Inc.
Apple AAPL.O hit another all-time high one day after the maker of the iPhone and iPad reported quarterly revenues that far exceeded expectations.
The Dow Jones industrial average .DJI lost 15.44 points, or 0.12 percent, to 12,571.98. The Standard & Poor's 500 Index .SPX shed 0.87 points, or 0.07 percent, to 1,325.86. The Nasdaq Composite Index .IXIC dropped 12.29 points, or 0.43 percent, to 2,814.23.
NYMEX-NEW YORK, July 20 (Reuters) - U.S. crude oil futures rose for a second day on Wednesday after data showed domestic crude stocks fell sharply last week and on hopes that debt problems in the United States and the euro zone would soon be resolved.
On the New York Mercantile Exchange, the August contract CLQ1 expired and settled at $98.14, up 64 cents, or 0.66 percent, after trading from $96.64 to $99.02.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended firmer on worries about stressful hot weather in the U.S. Midwest crop belt, traders said.
But prices ended below the day's highs and dipped lower in volatile trade in the closing minutes of the session as corn futures fell on some updated weather forecasts for temperatures to moderate next week.
FCPO-KUALA LUMPUR, July 20 (Reuters) - Malaysian palm oil futures rose 1.5 percent to hit near one-month highs on Wednesday as firmer commodity markets and expectations of higher export demand lifted sentiment.
Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance on Tuesday showed Malaysian palm oil exports during the first 20 days of this month rose 5.4 and 5.7 percent repectively, compared to the same period a month ago.[
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives rose 46 ringgit to hit the highest level since June 23 of 3,153 ringgit ($1,048.815) per tonne.
Overall traded volume was 33,205 lots of 25 tonnes each, from the usual 25,000 lots.
REGIONAL EQUITIES-COLOMBO, July 20 (Reuters) - Southeast Asian stock markets gained on Wednesday as hopes that a U.S. debt default would be averted brought buyers back, driving Indonesia and the Philippines to record highs.
Appetite for risky assets overall was up after comments by President Barack Obama that progress was being made towards a debt reduction deal.
Singapore .FTSTI rose 1 percent to a two-week high on strong earnings hopes, while Malaysia .KLSE gained 0.5 percent, snapping a two-day fall.
Apple AAPL.O hit another all-time high one day after the maker of the iPhone and iPad reported quarterly revenues that far exceeded expectations.
The Dow Jones industrial average .DJI lost 15.44 points, or 0.12 percent, to 12,571.98. The Standard & Poor's 500 Index .SPX shed 0.87 points, or 0.07 percent, to 1,325.86. The Nasdaq Composite Index .IXIC dropped 12.29 points, or 0.43 percent, to 2,814.23.
NYMEX-NEW YORK, July 20 (Reuters) - U.S. crude oil futures rose for a second day on Wednesday after data showed domestic crude stocks fell sharply last week and on hopes that debt problems in the United States and the euro zone would soon be resolved.
On the New York Mercantile Exchange, the August contract CLQ1 expired and settled at $98.14, up 64 cents, or 0.66 percent, after trading from $96.64 to $99.02.
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade ended firmer on worries about stressful hot weather in the U.S. Midwest crop belt, traders said.
But prices ended below the day's highs and dipped lower in volatile trade in the closing minutes of the session as corn futures fell on some updated weather forecasts for temperatures to moderate next week.
FCPO-KUALA LUMPUR, July 20 (Reuters) - Malaysian palm oil futures rose 1.5 percent to hit near one-month highs on Wednesday as firmer commodity markets and expectations of higher export demand lifted sentiment.
Cargo surveyors Intertek Testing Services and Societe Generale de Surveillance on Tuesday showed Malaysian palm oil exports during the first 20 days of this month rose 5.4 and 5.7 percent repectively, compared to the same period a month ago.[
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives rose 46 ringgit to hit the highest level since June 23 of 3,153 ringgit ($1,048.815) per tonne.
Overall traded volume was 33,205 lots of 25 tonnes each, from the usual 25,000 lots.
REGIONAL EQUITIES-COLOMBO, July 20 (Reuters) - Southeast Asian stock markets gained on Wednesday as hopes that a U.S. debt default would be averted brought buyers back, driving Indonesia and the Philippines to record highs.
Appetite for risky assets overall was up after comments by President Barack Obama that progress was being made towards a debt reduction deal.
Singapore .FTSTI rose 1 percent to a two-week high on strong earnings hopes, while Malaysia .KLSE gained 0.5 percent, snapping a two-day fall.
Wednesday, July 20, 2011
Breaking News-RTRS - Malaysia, Indonesia palm output to rise -Oil World
HAMBURG, July 19 (Reuters) - Oil World on Tuesday raised its forecasts of Malaysian and Indonesian 2011 palm oil output and said higher supplies would continue to create downward pressure on prices.
The Hamburg-based oilseeds analyst revised its estimate for Malaysia's calendar year 2011 palm oil output to 18.6 million tonnes, up from 16.0 million tonnes in 2010.
It estimated Indonesian 2011 palm output at 24.0 million tonnes against 22.2 million tonnes in 2010.
Oil World had previously forecast Malaysian 2011 output at 18.3 million tonnes and Indonesian at 23.8 million tonnes.
The Hamburg-based oilseeds analyst revised its estimate for Malaysia's calendar year 2011 palm oil output to 18.6 million tonnes, up from 16.0 million tonnes in 2010.
It estimated Indonesian 2011 palm output at 24.0 million tonnes against 22.2 million tonnes in 2010.
Oil World had previously forecast Malaysian 2011 output at 18.3 million tonnes and Indonesian at 23.8 million tonnes.
Trader's Highlight
DJI-NEW YORK, July 19 (Reuters) - U.S. stocks recorded their best day since March on Tuesday after strong corporate results and renewed hope for an agreement in Washington on thorny budget issues boosted investor confidence.
Quarterly numbers from technology bellwether International Business Machines Corp IBM.N and Coca-Cola KO.N lifted technology and consumer shares in the first heavy week of second-quarter results. IBM gained 5.7 percent, leading the Dow's gainers.
The Dow Jones industrial average .DJI was up 202.11 points, or 1.63 percent, at 12,587.27. The Standard & Poor's 500 Index .SPX was up 21.27 points, or 1.63 percent, at 1,326.71. The Nasdaq Composite Index .IXIC was up 61.41 points, or 2.22 percent, at 2,826.52.
NYMEX-NEW YORK, July 19 (Reuters) - U.S. crude oil futures extended gains in post-settlement trading on Tuesday after the American Petroleum Institute's inventory data showed domestic crude stocks last week fell much more than expected.
The industry group said crude inventories fell 5.2 million barrels as refinery utilization rose 1.2 percentage points in the week to July 15.
On the New York Mercantile Exchange, crude for August delivery CLQ1 was up $2.10, or 2.19 percent, at $98.03 a barrel, by 5:15 p.m. EDT (2215 GMT).
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade closed lower, retreating from early strength after some updated weather forecasts called for milder weather in the U.S. Midwest next week, traders said.
But weather worries also underpinned the market. Crop scout Michael Cordonnier left his U.S. soybean yield forecast unchanged at 42.5 bushels per acre but said this week's heatwave would leave the crop more vulnerable to additional hot and dry weather in the coming weeks.
FCPO-KUALA LUMPUR, July 19 (Reuters) - Malaysia palm oil futures climbed 0.9 percent on Tuesday on concerns of hot weather affecting U.S. grain crops and talk of higher exports.
The health of U.S. corn and soybean crops have declined more than expected last week as drier weather affected key growing areas and stunted development of late planted fields, according to a government report.
This could stem falling prices of palm oil that competes with soyoil for use in food and fuel sectors. Palm oil has fallen almost 18 percent so far this year on ample stocks as well as jittery markets on account of debt default threats in U.S. and Europe.
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives settled up 29 ringgit at 3,107 ringgit ($1,031) a tonne. Earlier in the session, it hit the lowest since July 13.
Overall traded volume stood at 26,793 lots of 25 tonnes each, compared to the usual 25,000 lots.
REGIONAL EQUITIES-COLOMBO, July 19 (Reuters) - Expectations of strong bank results and foreign buying drove Thailand's stock market up in high volume, but other markets in Southeast Asia were mixed on Tuesday as investors worried about sovereign debt problems in the United States and Europe.
Bangkok enjoyed a net foreign inflow of $96.7 million, the highest since July 5, Reuters data showed, as foreign investors bought into Thai stocks and helped push up the baht
Malaysia closed 0.4 percent weaker as financials fell, led by a 1.4 percent loss in CIMB Group CIMB.KL.
Quarterly numbers from technology bellwether International Business Machines Corp IBM.N and Coca-Cola KO.N lifted technology and consumer shares in the first heavy week of second-quarter results. IBM gained 5.7 percent, leading the Dow's gainers.
The Dow Jones industrial average .DJI was up 202.11 points, or 1.63 percent, at 12,587.27. The Standard & Poor's 500 Index .SPX was up 21.27 points, or 1.63 percent, at 1,326.71. The Nasdaq Composite Index .IXIC was up 61.41 points, or 2.22 percent, at 2,826.52.
NYMEX-NEW YORK, July 19 (Reuters) - U.S. crude oil futures extended gains in post-settlement trading on Tuesday after the American Petroleum Institute's inventory data showed domestic crude stocks last week fell much more than expected.
The industry group said crude inventories fell 5.2 million barrels as refinery utilization rose 1.2 percentage points in the week to July 15.
On the New York Mercantile Exchange, crude for August delivery CLQ1 was up $2.10, or 2.19 percent, at $98.03 a barrel, by 5:15 p.m. EDT (2215 GMT).
CBOT-SOYBEANS-Soybean futures on the Chicago Board of Trade closed lower, retreating from early strength after some updated weather forecasts called for milder weather in the U.S. Midwest next week, traders said.
But weather worries also underpinned the market. Crop scout Michael Cordonnier left his U.S. soybean yield forecast unchanged at 42.5 bushels per acre but said this week's heatwave would leave the crop more vulnerable to additional hot and dry weather in the coming weeks.
FCPO-KUALA LUMPUR, July 19 (Reuters) - Malaysia palm oil futures climbed 0.9 percent on Tuesday on concerns of hot weather affecting U.S. grain crops and talk of higher exports.
The health of U.S. corn and soybean crops have declined more than expected last week as drier weather affected key growing areas and stunted development of late planted fields, according to a government report.
This could stem falling prices of palm oil that competes with soyoil for use in food and fuel sectors. Palm oil has fallen almost 18 percent so far this year on ample stocks as well as jittery markets on account of debt default threats in U.S. and Europe.
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives settled up 29 ringgit at 3,107 ringgit ($1,031) a tonne. Earlier in the session, it hit the lowest since July 13.
Overall traded volume stood at 26,793 lots of 25 tonnes each, compared to the usual 25,000 lots.
REGIONAL EQUITIES-COLOMBO, July 19 (Reuters) - Expectations of strong bank results and foreign buying drove Thailand's stock market up in high volume, but other markets in Southeast Asia were mixed on Tuesday as investors worried about sovereign debt problems in the United States and Europe.
Bangkok enjoyed a net foreign inflow of $96.7 million, the highest since July 5, Reuters data showed, as foreign investors bought into Thai stocks and helped push up the baht
Malaysia closed 0.4 percent weaker as financials fell, led by a 1.4 percent loss in CIMB Group CIMB.KL.
Tuesday, July 19, 2011
Trader's Highlight
DJI-NEW YORK, July 18 (Reuters) - U.S. stocks dropped on Monday as bank shares bore the brunt of investor frustration over governments' inability to solve debt crises in the United States and Europe.
With five days to go before President Barack Obama's deadline for a debt ceiling deal and no agreement in sight, Republicans and Democrats were crafting a fallback plan to avert a U.S. default.
The Dow Jones industrial average .DJI dropped 94.57 points, or 0.76 percent, to 12,385.16. The Standard & Poor's 500 Index .SPX declined 10.70 points, or 0.81 percent, to 1,305.44. The Nasdaq Composite Index .IXIC fell 24.69 points, or 0.89 percent, to 2,765.11.
NYMEX-NEW YORK, July 18 (Reuters) - U.S. crude futures fell more than 1 percent on Monday on worries about the stalled debt-limit negotiations among Washington policymakers and as the debt crisis in the euro zone was feared worsening further.
Worries about the euro zone debt situation caused the euro to fall against the dollar, which rose against a basket of currencies.
On the New York Mercantile Exchange, crude for August delivery CLc1 settled at $95.93 a barrel, down $1.31, or 1.35 percent, after trading between $94.69 to $97.69.
CBOT-SOYBEANS-U.S. soybean futures on the Chicago Board of Trade closed mostly lower on forecasts for slightly less threatening heat in the Midwest crop belt, traders said.
Relief from extremely hot temperatures in the U.S. Corn Belt is expected by late this week as a high-pressure ridge breaks down, allowing cooler and damper weather into the crop-growing region - World Weather Inc.
FCPO-KUALA LUMPUR, July 18 (Reuters) - Malaysian palm oil futures fell 1.2 percent on Monday as weaker overseas soy complex weighed on market sentiment at the time when stocks are growing.
Palm oil inventories in the world's No. 2 producer hit 18-month highs in June as strong production due to favourable weather outpaced sluggish overseas demand. Traders expected stocks in July to stay above 2 million
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives settled down 37 ringgit to close at 3,078 ringgit ($1,024) per tonne.
Overall traded volume was 22,876 lots of 25 tonnes each, below the usual 25,000 lots.
REGIONAL EQUITIES-COLOMBO, July 18 (Reuters) - Stocks in Indonesia and the Philippines closed at record highs on Monday, outperforming most of their Southeast Asian peers, despite worries about mounting U.S. and euro zone debt problems which are driving investors from riskier assets in much of the rest of the world.
While many investors scaled back activity amid the global uncertainty, other remained positive on fast growing regional economies such as Indonesia .JKSE and the Philippines .PSI, which saw $36 million and $9.8 million of foreign inflows during the day, respectively.
Key stock indexes in Malaysia .KLSE and Singapore .FTSTI closed 0.9 percent and 0.2 percent lower, respectively.
With five days to go before President Barack Obama's deadline for a debt ceiling deal and no agreement in sight, Republicans and Democrats were crafting a fallback plan to avert a U.S. default.
The Dow Jones industrial average .DJI dropped 94.57 points, or 0.76 percent, to 12,385.16. The Standard & Poor's 500 Index .SPX declined 10.70 points, or 0.81 percent, to 1,305.44. The Nasdaq Composite Index .IXIC fell 24.69 points, or 0.89 percent, to 2,765.11.
NYMEX-NEW YORK, July 18 (Reuters) - U.S. crude futures fell more than 1 percent on Monday on worries about the stalled debt-limit negotiations among Washington policymakers and as the debt crisis in the euro zone was feared worsening further.
Worries about the euro zone debt situation caused the euro to fall against the dollar, which rose against a basket of currencies.
On the New York Mercantile Exchange, crude for August delivery CLc1 settled at $95.93 a barrel, down $1.31, or 1.35 percent, after trading between $94.69 to $97.69.
CBOT-SOYBEANS-U.S. soybean futures on the Chicago Board of Trade closed mostly lower on forecasts for slightly less threatening heat in the Midwest crop belt, traders said.
Relief from extremely hot temperatures in the U.S. Corn Belt is expected by late this week as a high-pressure ridge breaks down, allowing cooler and damper weather into the crop-growing region - World Weather Inc.
FCPO-KUALA LUMPUR, July 18 (Reuters) - Malaysian palm oil futures fell 1.2 percent on Monday as weaker overseas soy complex weighed on market sentiment at the time when stocks are growing.
Palm oil inventories in the world's No. 2 producer hit 18-month highs in June as strong production due to favourable weather outpaced sluggish overseas demand. Traders expected stocks in July to stay above 2 million
The benchmark October crude palm oil contract KPOc3 on Bursa Malaysia Derivatives settled down 37 ringgit to close at 3,078 ringgit ($1,024) per tonne.
Overall traded volume was 22,876 lots of 25 tonnes each, below the usual 25,000 lots.
REGIONAL EQUITIES-COLOMBO, July 18 (Reuters) - Stocks in Indonesia and the Philippines closed at record highs on Monday, outperforming most of their Southeast Asian peers, despite worries about mounting U.S. and euro zone debt problems which are driving investors from riskier assets in much of the rest of the world.
While many investors scaled back activity amid the global uncertainty, other remained positive on fast growing regional economies such as Indonesia .JKSE and the Philippines .PSI, which saw $36 million and $9.8 million of foreign inflows during the day, respectively.
Key stock indexes in Malaysia .KLSE and Singapore .FTSTI closed 0.9 percent and 0.2 percent lower, respectively.
Monday, July 18, 2011
Trader's Highlight
DJI-NEW YORK, July 15 (Reuters) - Google's blowout quarter led the Nasdaq higher on Friday but mounting uncertainty about the government's ability to reach a debt-reduction deal may keep investors at bay in the coming week.
The gains were a bright spot in a stretch dominated by selling that pushed the S&P 500 down in its worst week in five. Worries about U.S. and European government debt troubles put pressure on the market even as investors expect a batch of strong earnings next week.
The Dow Jones industrial average .DJI rose 42.61 points, or 0.34 percent, to end at 12,479.73. The Standard & Poor's 500 Index .SPX gained 7.27 points, or 0.56 percent, to finish at 1,316.14. The Nasdaq Composite Index .IXIC advanced 27.13 points, or 0.98 percent, to close at 2,789.80.
NYMEX-NEW YORK, July 15 (Reuters) - U.S. crude futures rose on Friday, lifted by lower oil supplies from Canada and higher U.S. equities, to post their third straight weekly gains, outweighing the day's bleak economic reports.
In early trading, crude futures were supported by Wall Street higher opening on strong earnings from Citibank Inc C.N and Google Inc GOOG.N
On the New York Mercantile Exchange, crude for August delivery CLQ1 settled at $97.24a barrel, gaining $1.55, or 1.62 percent, trading $95.21 to $97.74.
CBOT-SOYBEANS-Chicago Board of Trade soybean futures closed higher on outlooks for heat and dryness in the United States next week that may harm the soybean crop.
Hot and dry weather is expected in the U.S. corn and soybean growing area for at least five to seven days with readings well into the 90s F and little rainfall. This will increase stress on crops.
FCPO-KUALA LUMPUR, July 15 (Reuters) - Malaysian palm oil futures retreated on Friday on expectations of higher supply and an uncertain global economic outlook.
Traders largely ignored strong export data, focusing instead on the debt crises in the euro zone and the United States that may slow global economic growth.
Intertek Testing Services reported Malaysian palm oil exports rose 12 percent for July 1-15 compared to a month ago. Another cargo surveyor said exports during the same period rose 4.6 percent.
Malaysia's June palm oil stocks hit an 18-month high of 2.05 million tonnes, and traders predict the figure will rise more as planters push the harvest before the Muslim festival of Eid Al-fitr in August.
The benchmark September crude palm oil contract KPOc3 on the Bursa Malaysia Derivatives exchange fell 0.9 percent to 3,116 ringgit ($1,038) a tonne. Overall traded volume was light at 22,251 lots of 25 tonnes each, compared to the usual 25,000 lots.
REGIONAL EQUITIES-SINGAPORE, July 15 (Reuters) - Indonesian and Philippine stocks on Friday rose on optimistic earnings expectations in the financial sector, while Malaysian stocks were under pressure after a warning of a U.S. credit rating downgrade by Standard & Poor's hurt industrial shares.
South East Asian stock market activity was subdued with trading volumes in markets below their 30-day moving averages.
Worries about a potential debt default in developed economies kept investors' appetite for riskier assets at bay, Asia's relatively robust earnings outlook may keep attracting capital flows, analysts said
Malaysian stocks .KLSE ended down 0.16 percent led by falls in industrial names, while Singapore shares .FTSI dipped.
Still, southeast Asian stocks are not free from risk-off mode on worries about the global economic slowdown and fiscal problems in the euro zone and the United States, analysts said.
The gains were a bright spot in a stretch dominated by selling that pushed the S&P 500 down in its worst week in five. Worries about U.S. and European government debt troubles put pressure on the market even as investors expect a batch of strong earnings next week.
The Dow Jones industrial average .DJI rose 42.61 points, or 0.34 percent, to end at 12,479.73. The Standard & Poor's 500 Index .SPX gained 7.27 points, or 0.56 percent, to finish at 1,316.14. The Nasdaq Composite Index .IXIC advanced 27.13 points, or 0.98 percent, to close at 2,789.80.
NYMEX-NEW YORK, July 15 (Reuters) - U.S. crude futures rose on Friday, lifted by lower oil supplies from Canada and higher U.S. equities, to post their third straight weekly gains, outweighing the day's bleak economic reports.
In early trading, crude futures were supported by Wall Street higher opening on strong earnings from Citibank Inc C.N and Google Inc GOOG.N
On the New York Mercantile Exchange, crude for August delivery CLQ1 settled at $97.24a barrel, gaining $1.55, or 1.62 percent, trading $95.21 to $97.74.
CBOT-SOYBEANS-Chicago Board of Trade soybean futures closed higher on outlooks for heat and dryness in the United States next week that may harm the soybean crop.
Hot and dry weather is expected in the U.S. corn and soybean growing area for at least five to seven days with readings well into the 90s F and little rainfall. This will increase stress on crops.
FCPO-KUALA LUMPUR, July 15 (Reuters) - Malaysian palm oil futures retreated on Friday on expectations of higher supply and an uncertain global economic outlook.
Traders largely ignored strong export data, focusing instead on the debt crises in the euro zone and the United States that may slow global economic growth.
Intertek Testing Services reported Malaysian palm oil exports rose 12 percent for July 1-15 compared to a month ago. Another cargo surveyor said exports during the same period rose 4.6 percent.
Malaysia's June palm oil stocks hit an 18-month high of 2.05 million tonnes, and traders predict the figure will rise more as planters push the harvest before the Muslim festival of Eid Al-fitr in August.
The benchmark September crude palm oil contract KPOc3 on the Bursa Malaysia Derivatives exchange fell 0.9 percent to 3,116 ringgit ($1,038) a tonne. Overall traded volume was light at 22,251 lots of 25 tonnes each, compared to the usual 25,000 lots.
REGIONAL EQUITIES-SINGAPORE, July 15 (Reuters) - Indonesian and Philippine stocks on Friday rose on optimistic earnings expectations in the financial sector, while Malaysian stocks were under pressure after a warning of a U.S. credit rating downgrade by Standard & Poor's hurt industrial shares.
South East Asian stock market activity was subdued with trading volumes in markets below their 30-day moving averages.
Worries about a potential debt default in developed economies kept investors' appetite for riskier assets at bay, Asia's relatively robust earnings outlook may keep attracting capital flows, analysts said
Malaysian stocks .KLSE ended down 0.16 percent led by falls in industrial names, while Singapore shares .FTSI dipped.
Still, southeast Asian stocks are not free from risk-off mode on worries about the global economic slowdown and fiscal problems in the euro zone and the United States, analysts said.
Friday, July 15, 2011
Trader's Highlight
DJI-NEW YORK, July 14 (Reuters) - U.S. stocks fell on Thursday as Fed Chairman Ben Bernanke backed off hints additional near-term stimulus could be on the way, removing a possible catalyst from a market already facing plenty of obstacles.
Technology shares led the market lower and the Nasdaq fell 1 percent, reversing early gains while the market's favored indicator of anxiety, the CBOE Volatility Index .VIX, rose 4.5 percent and hit a two-and-a-half week high.
The Dow Jones industrial average .DJI slid 54.49 points, or 0.44 percent, to close at 12,437.12. The Standard & Poor's 500 Index .SPX shed 8.85 points, or 0.67 percent, to finish at 1,308.87. The Nasdaq Composite Index .IXIC dropped 34.25 points, or 1.22 percent, to end at 2,762.67.
NYMEX-NEW YORK, July 14 (Reuters) - U.S. crude futures fell more than 2 percent on Thursday, snapping two days of gains as Federal Reserve Chairman Ben Bernanke dampened expectations that more monetary easing was on the way.
On the second day of delivering the Fed's semiannual monetary policy report to Congress, Chairman Ben Bernanke repeated the central bank is prepared to act if the modest recovery from the recession falters. but he also made clear the Fed is not at that point now.
On the New York Mercantile Exchange, August crude CLQ1 fell, $2.36, or 2.41 percent, to settle at $95.69 per barrel, trading from $94.53 to $98.88. Thursday's slip was the biggest one-day percentage loss since July 8, when front-month crude fell 2.5 percent.
CBOT-CHICAGO, July 14 (Reuters) - U.S. soybean futures on the Chicago Board of Trade closed higher on Thursday on technical buying and as traders exited long corn/short soybean spreads, brokers said.
Market underpinned by forecasts for hot and dry weather in the U.S. Midwest starting this weekend that may threaten some of the crops, especially corn.
China's soybean imports in 2011/12 are likely to rise nearly 10 percent from a year earlier, after an expected mild increase in 2010/11 - COFCO official. [nL3E7IE1B2]
Dollar weakness helped lift values early, but soybeans held firm as the dollar cut losses and crude oil turned down after Federal Reserve Chairman Ben Bernanke doused market speculation that another round of monetary easing was on the way.
REGIONAL EQUITIES-BANGKOK, July 13 (Reuters) - Southeast Asian stock markets gained on Wednesday as Chinese economic growth data eased some fears about a global slowdown and resource shares advanced in line with the improving outlook for commodity demand from the world's second-largest economy.
The region snapped a two-day losing streak, also helped by bargain-hunting in recently beaten-down banks as their reporting season kicks off this month and strong consumption suggests a favourable outlook in the financial sector.
Stocks in the Philippines .PSI, Thailand .SETI and Indonesia .JKSE climbed over 1 percent, with others posting more limited gains.
Light trading volume in some markets reflected signs of caution as debt problems continued to cloud prospects in the euro zone. Indonesia, Malaysia .KLSE and the Philippines have all pulled back after setting all-time highs early this month.
Technology shares led the market lower and the Nasdaq fell 1 percent, reversing early gains while the market's favored indicator of anxiety, the CBOE Volatility Index .VIX, rose 4.5 percent and hit a two-and-a-half week high.
The Dow Jones industrial average .DJI slid 54.49 points, or 0.44 percent, to close at 12,437.12. The Standard & Poor's 500 Index .SPX shed 8.85 points, or 0.67 percent, to finish at 1,308.87. The Nasdaq Composite Index .IXIC dropped 34.25 points, or 1.22 percent, to end at 2,762.67.
NYMEX-NEW YORK, July 14 (Reuters) - U.S. crude futures fell more than 2 percent on Thursday, snapping two days of gains as Federal Reserve Chairman Ben Bernanke dampened expectations that more monetary easing was on the way.
On the second day of delivering the Fed's semiannual monetary policy report to Congress, Chairman Ben Bernanke repeated the central bank is prepared to act if the modest recovery from the recession falters. but he also made clear the Fed is not at that point now.
On the New York Mercantile Exchange, August crude CLQ1 fell, $2.36, or 2.41 percent, to settle at $95.69 per barrel, trading from $94.53 to $98.88. Thursday's slip was the biggest one-day percentage loss since July 8, when front-month crude fell 2.5 percent.
CBOT-CHICAGO, July 14 (Reuters) - U.S. soybean futures on the Chicago Board of Trade closed higher on Thursday on technical buying and as traders exited long corn/short soybean spreads, brokers said.
Market underpinned by forecasts for hot and dry weather in the U.S. Midwest starting this weekend that may threaten some of the crops, especially corn.
China's soybean imports in 2011/12 are likely to rise nearly 10 percent from a year earlier, after an expected mild increase in 2010/11 - COFCO official. [nL3E7IE1B2]
Dollar weakness helped lift values early, but soybeans held firm as the dollar cut losses and crude oil turned down after Federal Reserve Chairman Ben Bernanke doused market speculation that another round of monetary easing was on the way.
REGIONAL EQUITIES-BANGKOK, July 13 (Reuters) - Southeast Asian stock markets gained on Wednesday as Chinese economic growth data eased some fears about a global slowdown and resource shares advanced in line with the improving outlook for commodity demand from the world's second-largest economy.
The region snapped a two-day losing streak, also helped by bargain-hunting in recently beaten-down banks as their reporting season kicks off this month and strong consumption suggests a favourable outlook in the financial sector.
Stocks in the Philippines .PSI, Thailand .SETI and Indonesia .JKSE climbed over 1 percent, with others posting more limited gains.
Light trading volume in some markets reflected signs of caution as debt problems continued to cloud prospects in the euro zone. Indonesia, Malaysia .KLSE and the Philippines have all pulled back after setting all-time highs early this month.
Thursday, July 14, 2011
Trader's Highlight
DJI-NEW YORK, July 13 (Reuters) - U.S. stocks stopped a three-day slide on Wednesday, but the market is likely to get hit in the coming session after Moody's said it could cut the United States' prized triple-A credit rating.
Stock index futures dropped sharply after Moody's Investors Service said it may cut the United States' triple-A rating due to the rising chance its $14.3 trillion debt ceiling may not be raised by the Aug. 2nd deadline. Failure to increase the country's borrowing limit in time would result in a U.S. default, which could roil financial markets.
The Dow Jones industrial average .DJI rose 44.73 points, or 0.36 percent, to close at 12,491.61. The Standard & Poor's 500 Index .SPX gained 4.08 points, or 0.31 percent, to 1,317.72. The Nasdaq Composite Index .IXIC advanced 15.01 points, or 0.54 percent, to 2,796.92.
NYMEX-NEW YORK, July 13 (Reuters) - U.S. crude futures ended higher for a second straight day on Wednesday, lifted by U.S. Federal Reserve Chairman Ben Bernanke's remarks signaling more stimulus might be coming if the economy weakens and by data showing a larger-than-expected drop in crude stocks.
The U.S. Federal Reserve is ready to ease monetary policy further if economic growth and inflation slow much more, Bernanke said, giving a boost to the bruised stock market.
On the New York Mercantile Exchange, August crude CLQ1 rose 62 cents, or 0.64percent, to settle at $98.05 a barrel, having traded from $96.53 to $99.21.
CBOT-SOYBEANS-Chicago Board of Trade soybean futures closed higher on spillover support from gains in corn as hot weather threatened to trim crop output.
Support to soybeans also stemming from the possibility of more fiscal stimulus
measures in the United States, a weak dollar and higher crude oil.
FCPO-KUALA LUMPUR, July 13 (Reuters) - Malaysian palm oil futures rebounded on Wednesday as a U.S. government report showing tight grain stocks owing to rising biofuel use spurred concerns over the prospect of limited food supplies.
A U.S. Department of Agriculture report showed corn stocks have hovered near 15-year lows for longer than expected due to the grain's use in making ethanol, lifting vegetable oils that are also used in other competing renewable fuels.
High stocks in Malaysia however are expected to weigh on palm oil prices although the vegetable oil's rising discount to competing soyoil has prevented the market from going below 3,000 ringgit a tonne in the short term.
Cash refined, bleached and deodorised (RBD) palm olein's discount to soyoil has widened to $170 a tonne, the highest since November 2008, Reuters data showed.
The benchmark September crude palm oil contract KPOc3 on the Bursa Malaysia Derivatives exchange rose 48 ringgit, or 1.6 percent, to close at 3,082 ringgit ($1,016.50) per tonne.
Overall traded volume stood at 21,582 lots of 25 tonnes each, well below the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, July 13 (Reuters) - Southeast Asian stock markets gained on Wednesday as Chinese economic growth data eased some fears about a global slowdown and resource shares advanced in line with the improving outlook for commodity demand from the world's second-largest economy.
The region snapped a two-day losing streak, also helped by bargain-hunting in recently beaten-down banks as their reporting season kicks off this month and strong consumption suggests a favourable outlook in the financial sector.
Among actively traded stocks, Thai lender Kasikornbank KBAN.BK climbed 1.6 percent, Singapore's United Overseas Bank UOBH.SI gained 1.1 percent and the Philippines' second-biggest lender by assets, Metropolitan Bank & Trust Co MBT.PS, jumped 3.3 percent.
Stock index futures dropped sharply after Moody's Investors Service said it may cut the United States' triple-A rating due to the rising chance its $14.3 trillion debt ceiling may not be raised by the Aug. 2nd deadline. Failure to increase the country's borrowing limit in time would result in a U.S. default, which could roil financial markets.
The Dow Jones industrial average .DJI rose 44.73 points, or 0.36 percent, to close at 12,491.61. The Standard & Poor's 500 Index .SPX gained 4.08 points, or 0.31 percent, to 1,317.72. The Nasdaq Composite Index .IXIC advanced 15.01 points, or 0.54 percent, to 2,796.92.
NYMEX-NEW YORK, July 13 (Reuters) - U.S. crude futures ended higher for a second straight day on Wednesday, lifted by U.S. Federal Reserve Chairman Ben Bernanke's remarks signaling more stimulus might be coming if the economy weakens and by data showing a larger-than-expected drop in crude stocks.
The U.S. Federal Reserve is ready to ease monetary policy further if economic growth and inflation slow much more, Bernanke said, giving a boost to the bruised stock market.
On the New York Mercantile Exchange, August crude CLQ1 rose 62 cents, or 0.64percent, to settle at $98.05 a barrel, having traded from $96.53 to $99.21.
CBOT-SOYBEANS-Chicago Board of Trade soybean futures closed higher on spillover support from gains in corn as hot weather threatened to trim crop output.
Support to soybeans also stemming from the possibility of more fiscal stimulus
measures in the United States, a weak dollar and higher crude oil.
FCPO-KUALA LUMPUR, July 13 (Reuters) - Malaysian palm oil futures rebounded on Wednesday as a U.S. government report showing tight grain stocks owing to rising biofuel use spurred concerns over the prospect of limited food supplies.
A U.S. Department of Agriculture report showed corn stocks have hovered near 15-year lows for longer than expected due to the grain's use in making ethanol, lifting vegetable oils that are also used in other competing renewable fuels.
High stocks in Malaysia however are expected to weigh on palm oil prices although the vegetable oil's rising discount to competing soyoil has prevented the market from going below 3,000 ringgit a tonne in the short term.
Cash refined, bleached and deodorised (RBD) palm olein's discount to soyoil has widened to $170 a tonne, the highest since November 2008, Reuters data showed.
The benchmark September crude palm oil contract KPOc3 on the Bursa Malaysia Derivatives exchange rose 48 ringgit, or 1.6 percent, to close at 3,082 ringgit ($1,016.50) per tonne.
Overall traded volume stood at 21,582 lots of 25 tonnes each, well below the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, July 13 (Reuters) - Southeast Asian stock markets gained on Wednesday as Chinese economic growth data eased some fears about a global slowdown and resource shares advanced in line with the improving outlook for commodity demand from the world's second-largest economy.
The region snapped a two-day losing streak, also helped by bargain-hunting in recently beaten-down banks as their reporting season kicks off this month and strong consumption suggests a favourable outlook in the financial sector.
Among actively traded stocks, Thai lender Kasikornbank KBAN.BK climbed 1.6 percent, Singapore's United Overseas Bank UOBH.SI gained 1.1 percent and the Philippines' second-biggest lender by assets, Metropolitan Bank & Trust Co MBT.PS, jumped 3.3 percent.
Wednesday, July 13, 2011
Trader's Highlight
DJI-NEW YORK, July 12 (Reuters) - U.S. stocks closed lower for their third day in a row on Tuesday as Europe's fiscal woes and a weak start to tech earnings gave investors little reason to buy following equities' worst day in a month.
The Dow Jones industrial average .DJI fell 58.88 points, or 0.47 percent, to end unofficially at 12,446.88. The Standard & Poor's 500 Index .SPX slipped 5.85 points, or 0.44 percent, to finish unofficially at 1,313.64. The Nasdaq Composite Index .IXIC lost 20.71 points, or 0.74 percent, to close unofficially at 2,781.91.
NYMEX-NEW YORK, July 12 (Reuters) - U.S. crude futures pared gains in post-settlement trading on Tuesday after the American Petroleum Institute reported a surprise increase of 2.3 million barrrels in domestic crude inventories last week.
The report came after U.S. crude futures settled higher, snapping two days of losses.
Traders had expected that weekly inventory reports would show a stock draw. Analysts polled by Reuters had expected the data to show crude stockpiles fell by 1.8 million barrels.
On the New York Mercantile Exchange, August crude CLQ1 was up $1.48, or 1.56 percent at $96.63 a barrel at 5:02 p.m. EDT (2102 GMT). It had settled at $97.43, gaining $2.28, or 2.4 percent, after trading between $93.55 and $97.50.
CBOT-SOYBEANS-Soybean futures at the Chicago Board of Trade closed higher, led by spillover strength from corn and crude oil, traders said.
Concerns about forecasts for hot weather in the U.S. Midwest crop belt added support.
FCPO-KUALA LUMPUR, July 12 (Reuters) - Malaysian palm oil futures fell 1.3 percent on Tuesday, trailing weaker overseas equity and commodity markets, as worries over euro zone debt's crisis triggered a sell-off.
Oil, copper and grains markets tumbled on Monday as worry that the euro zone debt crisis could spill over into Italy bumped the dollar up against the euro, hurting prices of dollar-denominated commodities. Palm oil exports are priced in U.S. dollars.
The benchmark September crude palm oil contract KPOc3 on Bursa Malaysia Derivatives settled down 39 ringgit to 3,034 ringgit ($1,008) per tonne.
Overall traded volume stood 26,227 lots 25 tonnes, slightly above the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, July 12 (Reuters) - Southeast Asian stock markets continued to slide on Tuesday as fears that the euro zone debt crisis could spread dampened appetite for global risk assets while lower oil prices prompted selling in resource and commodities shares.
Indonesia's main share index .JKSE dropped 1.4 percent after hitting a record high on Friday. Jakarta is Asia's top market this year as strong domestic consumption has bolstered its economic outlook amid global uncertainty.
Stocks in Singapore .FTSTI, Thailand .SETI and Vietnam .VNI dropped over 1 percent while Malaysia .KLSE and Philippine shares .PSI posted smaller losses.
Market players expect regional central banks to tighten policy to combat inflation as economies expand.
The Dow Jones industrial average .DJI fell 58.88 points, or 0.47 percent, to end unofficially at 12,446.88. The Standard & Poor's 500 Index .SPX slipped 5.85 points, or 0.44 percent, to finish unofficially at 1,313.64. The Nasdaq Composite Index .IXIC lost 20.71 points, or 0.74 percent, to close unofficially at 2,781.91.
NYMEX-NEW YORK, July 12 (Reuters) - U.S. crude futures pared gains in post-settlement trading on Tuesday after the American Petroleum Institute reported a surprise increase of 2.3 million barrrels in domestic crude inventories last week.
The report came after U.S. crude futures settled higher, snapping two days of losses.
Traders had expected that weekly inventory reports would show a stock draw. Analysts polled by Reuters had expected the data to show crude stockpiles fell by 1.8 million barrels.
On the New York Mercantile Exchange, August crude CLQ1 was up $1.48, or 1.56 percent at $96.63 a barrel at 5:02 p.m. EDT (2102 GMT). It had settled at $97.43, gaining $2.28, or 2.4 percent, after trading between $93.55 and $97.50.
CBOT-SOYBEANS-Soybean futures at the Chicago Board of Trade closed higher, led by spillover strength from corn and crude oil, traders said.
Concerns about forecasts for hot weather in the U.S. Midwest crop belt added support.
FCPO-KUALA LUMPUR, July 12 (Reuters) - Malaysian palm oil futures fell 1.3 percent on Tuesday, trailing weaker overseas equity and commodity markets, as worries over euro zone debt's crisis triggered a sell-off.
Oil, copper and grains markets tumbled on Monday as worry that the euro zone debt crisis could spill over into Italy bumped the dollar up against the euro, hurting prices of dollar-denominated commodities. Palm oil exports are priced in U.S. dollars.
The benchmark September crude palm oil contract KPOc3 on Bursa Malaysia Derivatives settled down 39 ringgit to 3,034 ringgit ($1,008) per tonne.
Overall traded volume stood 26,227 lots 25 tonnes, slightly above the usual 25,000 lots.
REGIONAL EQUITIES-BANGKOK, July 12 (Reuters) - Southeast Asian stock markets continued to slide on Tuesday as fears that the euro zone debt crisis could spread dampened appetite for global risk assets while lower oil prices prompted selling in resource and commodities shares.
Indonesia's main share index .JKSE dropped 1.4 percent after hitting a record high on Friday. Jakarta is Asia's top market this year as strong domestic consumption has bolstered its economic outlook amid global uncertainty.
Stocks in Singapore .FTSTI, Thailand .SETI and Vietnam .VNI dropped over 1 percent while Malaysia .KLSE and Philippine shares .PSI posted smaller losses.
Market players expect regional central banks to tighten policy to combat inflation as economies expand.
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