Thursday, July 8, 2010

Trader's Highlight

DJI-NEW YORK, July 7 (Reuters) - U.S. stocks logged their best one-day gain in about six weeks on Wednesday after a bullish forecast from financial company State Street Corp fueled optimism about the coming earnings season and helped the S&P 500 break above a major resistance level.

State Street shares closed 9.9 percent higher at $36.63 after the asset manager and custody firm said quarterly earnings would far exceed expectations, providing a lifeline to investors after several weeks of dismal economic reports.

Bank stocks led the way, but investors also scooped up beaten-down industrial and technology shares.

The Dow Jones industrial average <.DJI> rose 274.66 points, or 2.82 percent, to 10,018.28. The Standard & Poor's 500 Index <.SPX> gained 32.21 points, or 3.13 percent, to 1,060.27. The Nasdaq Composite Index <.IXIC> advanced 65.59 points, or 3.13 percent, to 2,159.47.

NYMEX-NEW YORK, July 7 (Reuters) - U.S. crude oil futures ended nearly 3 percent higher on Wednesday, ending a six-day losing streak, as a rally on Wall Street and forecasts that weekly inventory reports will show a hefty crude oil inventory
drawdown improved risk appetite.

Traders also were closely monitoring a potential tropical depression that government storm trackers said could hit the southern Gulf of Mexico in the next two days.

CBOT-CHICAGO, July 7 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.

CBOT-SOYBEANS - July up 28-3/4 cents at $9.93 per bushel; new-crop November up 32-1/2 at $9.32-1/2. USDA said 66 percent of the U.S. soybean crop was rated good to excellent, down from 67 percent a week ago and the fourth consecutive weekly decline. Traders had expected soy conditions to hold steady or improve.

CBOT-SOYOIL - August up 0.97 cent at 36.96 cents per lb. Following strength in soybeans and crude oil.

FCPO-JAKARTA, July 7 (Reuters) - Malaysian crude palm oil fell 1.35 percent on Wednesday, its fourth day of losses in five, as investors were concerned higher production may overwhelm already slow demand and lead to higher inventories.

The benchmark September contract on Bursa Malaysia's Derivatives Exchange fell 31 ringgit to close at 2,270 ringgit ($704.5) a tonne, a level last seen in mid-November. Overall volume stood at 13,888 lots of 25 tonnes each, above the usual level of 10,000 lots.

REGIONAL EQUITIES-BANGKOK, July 7 (Reuters) - Major Southeast Asian stock markets trod water on Wednesday, with late selling pulling down Singapore and Indonesia, amid worries global growth was faltering and as a drop in crude prices weighed on commodity shares.

Equities in the region failed to sustain early gains as investors turned cautious over a weak outlook on Wall Street on Wednesday after the previous session's tepid gains. U.S. stock index futures <.DJHO> were down 0.6 percent at 0944 GMT.

Singapore's benchmark stock index <.FTSTI> ended down 0.2 percent. The market climbed to a one-week high in early trade amid optimism about the economy.

Stronger-than-expected export and manufacturing data in April and May prompted economists to significantly revise up their gross domestic product (GDP) growth forecast for Singapore for 2010.

Wednesday, July 7, 2010

Trader's Highlight

DJI-NEW YORK, July 6 (Reuters) - Wall Street rebounded on Tuesday, but strong buying interest evaporated in the afternoon as bearish sentiment reasserted itself.

Ending a five-day string of losses, the major indexes bounced back after the S&P 500 closed at a 10-month low on Friday, but investors used the morning's gains as an opportunity to sell rather than establish new long positions.

The Dow Jones industrial average <.DJI> was up 57.14 points, or 0.59 percent, at 9,743.62. The Standard & Poor's 500 Index <.SPX> was up 5.48 points, or 0.54 percent, at 1,028.06. The Nasdaq Composite Index <.IXIC> was up 2.09 points, or 0.10 percent, at 2,093.88.

NYMEX-NEW YORK, July 6 (Reuters) - U.S. crude oil futures ended at the lowest level in four weeks on Tuesday, erasing strong gains early in the session as Wall Street's rally, the guidepost for the energy markets, fizzled.

The day's losses extended last week's five-day, 8.5 percent loss as U.S. trading resumed after the long holiday weekend with traders remaining averse to risky investments.

On the New York Mercantile Exchange, August crude settled down 16 cents, or 0.22 percent, at $71.98 a barrel, the lowest since front-month prices ended at $71.44on June 7. It traded from $71.09, also the lowest since June 8, to $73.86.

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

CBOT-SOYBEANS - August down 4 cents at $9.40-1/2 per bushel; new-crop November down 5-3/4 at $9.00. Overall good crop weather in the United States weighs on soy market amid outlooks for record large soy production in 2010.

CBOT-SOYOIL - August down 0.17 cent at 35.84 cents per lb. Weighed down by lower soy.

FCPO-JAKARTA, July 6 (Reuters) - Malaysian crude palm oil gained 0.48 percent on Tuesday after three straight days of losses as traders covered short positions following gains in crude oil and stock markets.

But a strong ringgit against the U.S. dollar kept a lid on gains, traders said. The benchmark September contract on Bursa Malaysia's Derivatives Exchange rose 1ringgit to close at 2,301 ringgit a tonne, after trading as low as 2,277, a level last seen in mid-November. Overall volume stood at 14,103 lots of 25 tonnes each, above the usual level of 10,000 lots.

REGIONAL EQUITIES-BANGKOK, July 6 (Reuters) - Thai stocks hit a three-month high on Tuesday as investors piled into banks ahead of their quarterly results later in the month and the appointment of a new central bank governor also helped sentiment.

Thailand's government has selected Kasikornbank President Prasarn Trairatvorakul to be the next governor of the Bank of Thailand, in charge of monetary policy for five years from October.

Singapore <.FTSTI> gained 0.8 percent to a one-week high, Malaysia <.KLSE> rose 0.6 percent, ending a six-day fall, Indonesia added 1.2 percent and the Philippines <.PSI> was up 0.7 percent but Vietnam <.VNI> bucked the trend, down 1.1 percent.

In Singapore, Wilmar International , the world's largest listed palm oil firm, rose 1.2 percent. It said after the market close that it was keen to expand its sugar business by setting up operations in Indonesia and Brazil.

Tuesday, July 6, 2010

Trader's Highlight

FCPO-JAKARTA, July 5 (Reuters) - Malaysian crude palm oil hit a fresh seven-and-a-half month low below 2,300 ringgit a tonne on Monday due to a stronger local currency and concerns about demand for vegetable oils.

World equities fell for the fourth day running on Monday and the dollar traded close to two-month lows on growing worries about slowdowns in the United States and in China -- a major importer of palm oil.

The ringgit traded at 3.2130 to the dollar against 3.2225 the previous day. A stronger ringgit makes the vegetable oil more expensive for overseas buyers, limiting demand.

The benchmark September contract on Bursa Malaysia's Derivatives Exchange closed down 45 ringgit or 1.93 percent to 2,290 ringgit ($714) a tonne, a level not seen since Nov. 13, 2009. Overall volume stood at 11,214 lots of 25 tonnes each, higher than the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, July 5 (Reuters) - Thai stocks posted small gains on Monday led by telecoms shares as hopes grew a next-generation telecoms licence auction would finally be held later this year, while global economic gloom crimped regional sentiment.

Investors in Thailand also selectively sought firms with good earnings prospects as the earnings season kicks off this month, giving a boost to shares in big banks and some property developers.

Singapore-listed Total Access jumped 4.2 percent, outperforming Singapore's main stock index <.FTSTI>, which ended flat on the session.

Bucking the trend, Malaysia <.KLSE> fell 0.6 percent, ending in negative terrain for a sixth session. The largest lender, Malayan Banking , fell 0.5 percent and number two CIMB lost 1 percent.

Markets elsewhere in Asia inched higher on Monday, with investors taking profits on defensive plays and buying back other beaten-down shares, though selling could resume shortly as the U.S. and Chinese economies are slowing in tandem.

Monday, July 5, 2010

Trader's Highlight

DJI-NEW YORK, July 2 (Reuters) - U.S. stocks fell on Friday and were on track for their worst week in two months as disappointing jobs data joined other economic reports pointing to a slowing of the recovery.

Adding to stocks' weaker tone was a technical move that indicated more selling pressure may be ahead. The S&P 500's 50-day moving average broke below its 200-day moving average, a break known as the "death cross."

The Dow Jones industrial average <.DJI> dropped 76.40 points, or 0.78 percent, to 9,656.13. The Standard & Poor's 500 Index <.SPX> lost 7.13 points, or 0.69 percent, to 1,020.24. The Nasdaq Composite Index <.IXIC> dipped 15.00 points, or 0.71 percent, to 2,086.36.

NYMEX-NEW YORK, July 2 (Reuters) - U.S. crude oil futures fell for the fifth day in a row on Friday, as U.S. employment in June fell for the first time this year, adding to worries that the economic recovery is stalling.

For the week, front-month crude traded on the New York Mercantile Exchange slid for the first time in four weeks. In the process, it suffered the steepest decline since the first trading week of May, at the onset of the euro-zone's sovereign debt troubles.

On the New York Mercantile Exchange, August crude ended down 81 cents, or 1.11percent, at $72.14 a barrel, the lowest since June 8's $71.99 close. It traded from $71.62, lowest since the June 8 intraday low of $70.75, to $73.38.

CBOT-CHICAGO, July 2 (Reuters) - CBOT grain and soy complex closing trends on Friday.

CBOT-SOYBEANS - July up 11-1/2 cents per bushel at $9.65 per bushel. Tight soy stocks and firm cash markets continue to support nearbys. Advances in back months limited by good U.S. crop weather and profit-taking ahead of the three-day weekend.

CBOT-SOYOIL - July up 0.13 cent at 36.00 cents per lb. Short-covering bounce after the declines on Thursday and ahead of the weekend.

FCPO-KUALA LUMPUR, July 2 (Reuters) - Malaysian crude palm oil futures hit a fresh seven-and-a-half month low on Friday as sentiment was dampened by concerns that China, a major importer of palm oil, could slow purchases amid an economic slowdown.

With ample stocks and abnormal weather condition this season, the world's largest palm oil importer has slowed down imports, said an oil analyst in Shanghai.

Currently the Asian nation has about 700,000 tonnes to one million tonnes of palm oil stocks at the its major ports.

In Malaysia, the benchmark September crude palm oil contract on Bursa Malaysia Derivatives Exchange lost 0.4 percent or 10 ringgit on Friday at 2,335 ringgit ($722). It hit an intraday low of 2,328 ringgit, a level not seen since Nov. 17 last year. Traded volume was light at 8,853 lots of 25 tonnes each, compared to usual 10,000 lots.

Malaysian crude palm oil lost 2.7 percent this week on concerns about the global economic recovery. Malaysian traders said price of the vegetable oil could fall to as much as 2,250 ringgit -- lowest since Nov 13 last year -- if the bearish sentiment prevails.

REGIONAL EQUITIES-BANGKOK, July 2 (Reuters) - Singapore shares rose almost 1 percent on Friday as investors bought banks, optimistic about their upcoming quarterly results, but most other regional markets fell amid concerns over the U.S. and global economic outlook.

The Straits Times Index <.FTSTI> ended up 0.85 percent as players sought companies likely to report positive second-quarter earnings later in the month.

Gains in the city-state were led by a 1.5 percent rise in Oversea-Chinese Banking Corp . Southeast Asia's largest bank, DBS , was up 0.9 percent while smaller rival United Overseas Bank was 0.5 percent higher.

Singapore has lost 1.8 percent so far this year, Southeast Asia's worst performer.

Najeeb Jarhom, head of research at Singapore-based broker AmFraser, said Singapore's valuations might not be demanding with the index trading at a price to book ratio of 1.55, below its historical 1.63 times average, with price to earnings at 13-14 times, below its average of 15.

Other markets in the region were mostly lower, with Malaysia <.KLSE>, Indonesia <.JKSE> and Vietnam <.VNI> all a tad lower and the Philippines <.PSI> down 0.7 percent. Thailand <.SETI> bucked the trend, ending up 0.7 percent.

Friday, July 2, 2010

Trader's Highlight

DJI-NEW YORK, July 1 (Reuters) - U.S. stocks fell on Thursday as manufacturing and labor market data heightened fears of a double-dip recession before Friday's key employment report.

Major indexes were lower for a fourth straight day after suffering their worst quarter since late 2008, but losses eased near the end of the session.

The Dow Jones industrial average <.DJI> dropped 41.49 points, or 0.42 percent, to 9,732.53. The Standard & Poor's 500 Index <.SPX> shed 3.33 points, or 0.32 percent, to 1,027.38. The Nasdaq Composite Index <.IXIC> lost 7.88 points, or 0.37 percent, to 2,101.36.

NYMEX-NEW YORK, July 1 (Reuters) - U.S. crude futures ended at a three-week low on Thursday, extending losses for four consecutive days, as weak economic data from China and the United States added to worries over the global economic recovery and oil demand.

Front-month crude's loss for the day was the biggest single day percentage drop in almost a month and came after prices on Wednesday posted the first quarterly loss since the tumultuous fourth quarter of 2008.

On the New York Mercantile Exchange, August crude settled down $2.68, or 3.54 percent, at $72.95, the lowest settlement since June 8's $71.99. It traded from $72.05, lowest intraday since June 8's intraday low of $70.75, to $75.40.

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

CBOT-SOYMEAL - July up $2.10 per ton at $291.50 per ton. Following soybeans and soymeal/soyoil spreading.

CBOT-SOYOIL - July down 0.41 cent per lb at 35.87 cents per lb. Pressure from lower crude oil and meal/oil spreading.

FCPO-KUALA LUMPUR, July 1 (Reuters) - Malaysian crude palm oil futures fell more than 1 percent on Thursday, tracking volatile crude oil and equity markets, on signs China's economic growth was slowing.

Investors gave stocks and commodities a wide berth on Thursday on mounting worries about the strength of the global economic recovery after manufacturing data showed China's rapid growth was slowing.

Benchmark September crude palm oil contract on Bursa Malaysia Derivatives Exchange fell 27 ringgit at 2,346 ringgit ($729.5) a tonne. The same contract hit a lowest point since Nov. 17, 2009 at 2,338 ringgit the previous day. Overall traded volume stood at 13,224 lots of 25 tonnes, well above the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, July 1 (Reuters) - Indonesian shares fell more than 1 percent on Thursday with investors fearing higher-than-expected inflation might bring an interest rate rise sooner rather than later, while other markets also started the third quarter weakly.

Indonesia's inflation picked up in June to its highest since May 2009, but was still within a central bank year-end forecast range, reinforcing expectation the bank will keep rates steady when it meets on Monday.

Singapore <.FTSTI>, Southeast Asia's worst performer in the second quarter, fell 0.5 percent, Malaysia <.KLSE> eased 0.4 percent, and Vietnam <.VNI>, the region's smallest bourse, was off 0.6 percent.

In Singapore, CapitaLand , Southeast Asia's biggest developer, eased 0.3 percent and United Overseas Bank , Singapore's third-biggest lender, was down 0.6 percent.

In Kuala Lumpur, Sime Darby, Malaysia's No.2 company by market value, fell 2.6 percent, and in Manila, Philippine Long Distance Telephone Co (PLDT) , the country's largest listed firm, fell 1.3 percent.

Thursday, July 1, 2010

Trader's Highlight

DJI-NEW YORK, June 30 (Reuters) - U.S. stocks staggered to the end of a dismal second quarter on Wednesday in another low volume session as investors found little reason to take on risk after conflicting economic data.

Wednesday's session ended like many during the quarter, with a late-day sell-off as buying interest waned and investors sold underperforming stocks in the worst quarter
since the market meltdown triggered by the collapse of Lehman Brothers.

"Just pushing all the garbage off the side of the ship," Peter Kenny, managing director at Knight Equity Markets in Jersey City, New Jersey, said of the late sell-off.

The S&P 500 fell below the 1,040 level that it had held since February, breaking out to the downside from what chartists call a very bearish "head and shoulders" price
pattern and suggesting a major fall could come in the next five months.

NYMEX-NEW YORK, June 30 (Reuters) - U.S. crude oil futures fell for the third day in a row on Wednesday, pressured by higher fuel inventories, and finished the quarter with the first quarterly loss since the fourth quarter of 2008 at the height of the financial crisis.

Quarter-end book-squaring sparked some profit-taking for crude. Heating oil and RBOB gasoline contracts fell as their inventories rose and also as their front-month July contracts were liquidated ahead of expiration at the close.

CBOT-CHICAGO, June 30 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.

CBOT-SOYBEANS - July up 1-1/4 cents at $9.48-1/2 per bushel; new-crop November down 9-1/2 cents at $9.02-1/2.

CBOT-SOYOIL - July up 0.35 cent per lb at 36.28 cents per lb. Soyoil/soymeal spreading lifts soyoil and weighs on soymeal with soyoil and garnering support from firm spot soy.

FCPO-KUALA LUMPUR, June 30 (Reuters) - Malaysian crude palm oil futures rose on Wednesday after falling further than a seven-month low earlier in the day as investors took positions on overseas demand, however global economic uncertainty capped gains.

Cargo surveyors Intertek testing services and Societe Generale de Surveillance reported a slight rise in Malaysia's June exports on Wednesday.

"The palm oil price is on the low side because both regional equity markets and commodity prices do not look good, unless the global economy shows a stable recovery," said a trader in Kuala Lumpur.

The benchmark September crude palm oil contract on Bursa Malaysia Derivatives Exchange ended 7 ringgit higher to 2,373 ringgit ($731.3) after touching seven-and-a-half month lows at 2,338 ringgit earlier the session -- a level unseen since Nov. 17 last year.

REGIONAL EQUITIES-BANGKOK, June 30 (Reuters) - Major Southeast Asian stock markets were mixed on Wednesday, at the end of a lacklustre second quarter for most, amid concerns over funding conditions for European banks and the pace of the global recovery.

Equity markets in Singapore and Thailand had the worst quarterly returns since the first quarter of 2009 but Indonesia managed a gain of 4.9 percent, still not as good as the 9.6 percent gain scored in the first three months.

Singapore's benchmark Straits Times index <.FTSTI> eked out a slim gain of 0.18 percent on Wednesday. It lost 2.19 percent and 2.14 percent in the second quarter and first half respectively, Southeast Asia's worst performer.

Indonesia <.JKSE> rose 0.7 percent on the day. Its six-month gain of nearly 15 percent was the best in the region. Malaysia <.KLSE> edged down 0.4 percent and it had a quarterly loss of 0.5 percent.


Wednesday, June 30, 2010

Trader's Highlight

DJI-NEW YORK, June 29 (Reuters) - Investors fled the U.S. stock market on Tuesday and the S&P 500 tumbled to its lowest level in eight months in a sell-off triggered by a wave of increasing alarm over the global economic outlook.

All but one stock in the S&P 500 ended lower as escalating doubts about the stability of Europe's banks roiled markets once again.

The S&P 500 had tumbled below its 2010 intraday low of 1,040.78 during the session, which analysts said could ignite further declines. The index closed at its lowest level since Oct. 30, breaking its closing low for the year at 1,050.47 -- another bearish signal for markets.

The Dow Jones industrial average <.DJI> lost 268.22 points, or 2.65 percent, to 9,870.30. The Standard & Poor's 500 Index <.SPX> fell 33.33 points, or 3.10 percent, to 1,041.24. The Nasdaq Composite Index <.IXIC> dropped 85.47 points, or 3.85 percent, to 2,135.18.

NYMEX-NEW YORK, June 29 (Reuters) - U.S. crude oil futures ended nearly 3 percent lower on Tuesday, down for a second day in a row, as economic worries sparked risk aversion and with storm worries fading as Tropical Storm Alex's path was seen averting production lanes in the Gulf of Mexico.

A sharp drop in U.S. consumer confidence, fresh concerns about economic growth in China and renewed euro zone debt issues were behind the day's economic jitters, analysts said.

On the New York Mercantile Exchange, crude for August delivery settled $2.31 lower, or 2.95 percent, at $75.94, after trading from $75.21 to $78.

CBOT-CHICAGO, June 29 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.

CBOT-SOYBEANS - July down 7-3/4 cents per bushel at $9.47-1/4. New-crop November down 6-1/2 at $9.12. Pressure from good U.S. crop weather, a strong dollar as equities and crude oil falter. Underpinned by news China bought more U.S. soy, slow farmer selling and tight cash markets.

CBOT-SOYOIL - July down 1.01 cents per lb at 35.93 cents per lb. Pressured by falling crude oil and equities as the dollar rallies.

FCPO-KUALA LUMPUR, June 29 (Reuters) - Malaysian crude palm oil futures slid to 7-month lows on Tuesday, as sentiment was hurt by a global selloff in stocks and commodities.

World stocks hit a 2-½ week low on Tuesday while oil and the euro also slipped as investors grew nervous over the funding situation of banks about to repay 442 billion euros ($545.5 billion) to the European Central Bank.

The benchmark September crude palm oil contract on Bursa Malaysia Derivatives Exchange lost 1.4 percent or 34 ringgit at 2,366 ringgit ($734.3) after slipping to as low as 2,362 ringgit earlier the session -- a level unseen since November 20 last year.

Volatility lifted volume to 15,008 lots of 25 tonnes each, compared to the usual 10,000 lots. It had slipped to 8,026 lots on Monday.

REGIONAL EQUITIES-BANGKOK, June 29 (Reuters) - Major Southeast Asian stock markets fell on Tuesday, wary of weakness in China's stock markets, and broad selling in financials and heavyweight shares pulled indexes down to their lowest in around two weeks.

Markets in the region suffered late selling after Shanghai shares <.SSEC> slid over 4percent as investors sold stock to make room for Agricultural Bank of China's[ABC.UL] initial public offering, dealers said.

Banking stocks were among the weak points in Singapore <.FTSTI>, Malaysia <.KLSE> and Thailand <.SETI>, each of which is poised to have its worst quarterly performance since the first quarter of 2009.

Singapore's United Overseas Bank and Thailand's Krung Thai Bank each fell 2.3 percent. Malaysian financial firm RHB Capital fell 1.4 percent and AMMB Holdings eased 0.2 percent.

Lee Cheng Hooi, head of research for equity markets at Maybank IB in Kuala Lumpur, said the trend in China hurt Malaysia, partly because it was a key export market.

Tuesday, June 29, 2010

Trader's Highlight

DJI-NEW YORK, June 28 (Reuters) - U.S. stocks ended slightly lower on Monday as gains in consumer-related stocks, including tobacco shares, were offset by losses in the energy sector.

Shares of Coca Cola Co and Procter & Gamble Co were two of the Dow Jones Industrial Average's best performers. Coca-Cola rose 1.6 percent to $51.08 and P&G gained 1.4 percent to $60.62.

Consumer shares rose after the government said personal spending rose moderately in May, exceeding expectations, after being flat in April.

The Dow Jones industrial average <.DJI> dropped 5.29 points, or 0.05 percent, to 10,138.52. The Standard & Poor's 500 Index <.SPX> slipped 2.19 points, or 0.20 percent, to 1,074.57. The Nasdaq Composite Index <.IXIC> shed 2.83 points, or 0.13 percent, to 2,220.65

NYMEX-NEW YORK, June 28 (Reuters) - U.S. crude oil futures ended lower on Monday as the north-northwest projected path of Tropical Storm Alex in the next few days precluded any serious threat to oil and natural gas production in the Gulf of Mexico, analysts said.

On the New York Mercantile Exchange, August crude settled down 61 cents, or 0.77 percent, at $78.25 a barrel, trading from $77.72 to $79.38.

CBOT-CHICAGO, June 28 (Reuters) - Chicago Board of Trade grain and soy complex close on Monday.

CBOT-SOYBEANS - July down 2 at $9.55 per bushel, new-crop November up 6-1/2 at $9.18-1/2. Tight nearby soy movement and firm cash lift market but improved U.S. crop weather and spillover pressure from falling wheat and corn cap gains.

CBOT-SOYOIL - July down 0.22 cent per lb at 36.94. Unwinding of meal/oil spreads weighs on soymeal and lifts soyoil but gains limited by weak crude oil.

FCPO-KUALA LUMPUR, June 28 (Reuters) - Malaysian palm oil futures rebounded to a one-week high on Monday, tracking gains in crude oil as tropical storm Alex pressured exports and production in the Gulf of Mexico.

Concerns over slower exports and evacuation of oil platforms due to the tropical storm had lifted crude oil to its eight-week highest level in Asian hours, but it later slipped below $79.

Tropical depression Alex picked up speed over the Gulf of Mexico and regained tropical storm strength on Sunday as two key Mexican oil ports remained closed.

The benchmark September crude palm oil contract gained 0.7 percent or 16 ringgit at 2,400 ringgit ($738.7) after touching an intraday high of 2,410 ringgit earlier, a level unseen since June 21. Volume was light at 8,026 lots of 25 tonnes each, versus the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 28 (Reuters) - Most Southeast Asian stock markets gained on Monday as investors bought shares in companies dependent on the domestic economy such as banks and property stocks, while commodity shares tracked gains in oil prices.

Singapore's index <.FTSTI> brought a four-day fall to an end and rose 0.64 percent. Shares in Thailand <.SETI>, Indonesia <.JKSE> and the Philippines <.PSI> rose for a second day, adding 1.4 percent, 0.3 percent and 0.34 percent respectively.

In Singapore, property shares climbed higher, with top developer CapitaLand rising 0.5 percent while Keppel Land and City Development rose more than 1 percent.

In Kuala Lumpur, shares drifted lower, weighed down by a 0.3 percent fall in mobile phone network operator Axiata Group and a 0.5 percent loss in gaming group Genting .

Monday, June 28, 2010

Trader's Highlight

DJI-NEW YORK, June 25 (Reuters) - The Nasdaq and S&P 500 rose modestly on Friday on relief that the financial regulation bill wouldn't crimp Wall Street profits as badly as feared and as tech company Oracle's strong results revived hopes about business spending.

Despite the day's gains, the main stock indexes fell for the week after two straight weeks of gains and recorded their weakest performance in five weeks.

Banks climbed after lawmakers agreed on rules that did not make dramatic changes to derivatives and proprietary trading, two highly profitable businesses in lawmakers' crosshairs. The bill must still be approved by both chambers of Congress before it can be signed into law.

The Dow Jones industrial average <.DJI> was down 8.99 points, or 0.09 percent, at 10,143.81. The Standard & Poor's 500 Index <.SPX> was up 3.07 points, or 0.29 percent, at 1,076.76. The Nasdaq Composite Index <.IXIC> was up 6.06 points, or 0.27 percent, at 2,223.48.

NYMEX-NEW YORK, June 25 (Reuters) - U.S. crude oil futures ended up more than 3 percent to hit a seven-week high on Friday, as odds increased that an Atlantic storm would form and head to the Gulf of Mexico, where oil production may be disrupted.

On a broader front, crude futures also tracked financial markets. The dollar weakened against the euro, and Wall Street rose despite mixed economic data, both supportive for oil futures.

On the New York Mercantile Exchange, August crude settled up $2.35, or 3.07 percent, at $78.86 a barrel, the highest since May 5's close at $79.97. It traded from $75.90 to $79.11, the highest since May 5's high of $79.97.

CBOT-CHICAGO, June 25 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Friday.

CBOT-SOYBEANS - July up 1-1/2 cents at $9.57 per bushel; new-crop November unchanged at $9.12. Slow farmer selling, tight cash markets and firm spot cash bids underpins soy futures.

CBOT-SOYOIL - July down 0.01 cent per lb at 37.16 cents per lb. Faded late as soybeans moved down from the day's highs.

FCPO-KUALA LUMPUR, June 25 (Reuters) - Malaysian palm oil futures fell 0.3 percent on Friday in light trading as key exports figures came out below expectations, leaving investors uncertain about demand, but a weaker ringgit limited losses.

Cargo surveyor Intertek Testing Services on Friday showed exports of Malaysian palm oil for June 1-25 rose 8.9 percent to 1,120,563 tonnes, compared with the same period last month.

Aother surveyor Societe Generale de Surveillance said the exports over the same period rose 6.1 percent to 1,113,923 tonnes.

Traders said the new export figures were below expectations but still showed a positive trend.

The benchmark September crude palm oil futures on Bursa Malaysia Derivatives Exchange ended down 6 ringgit at 2,384 ringgit ($737.6) a tonne. Traded volume fell to 8,947 lots of 25 tonnes each, versus the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 25 (Reuters) - Indonesian shares rose on Friday
as investors bought banks on optimism about loan growth in a low interest rate environment while other markets in the region trod water amid global economic concerns.

Indonesia's benchmark stock index <.JKSE> ended up 1.13 percent, pushing its gain this year to 16.3 percent, Asia's second best performer.

State-owned lender Bank Mandiri rose 3.5 percent, the country's second-biggest lender, Bank Rakyat Indonesia , gained 2.7 percent and the state-owned Bank Tabungan Negara climbed 4.7 percent.

Singapore <.FTSTI>, Malaysia <.KLSE>, Thailand <.SETI> and the Philippines <.PSI> eked out slim gains. Vietnam <.VNI>, bucking the trend, dropped 1.3 percent. In Singapore, the Straits Times Index <.FTSTI> reversed a three-day fall following an encouraging industrial output number in May.

Friday, June 25, 2010

Trader's Highlight

DJI-NEW YORK, June 24 (Reuters) - The S&P 500 fell for the fourth straight day on Thursday as fresh signs of consumer weakness and worries about stringent financial regulation provoked investors to unload positions.

The S&P 500 has lost 3.8 percent in four days, with retailers among the biggest decliners a day after discouraging outlooks from Bed Bath & Beyond and athletic apparel maker Nike Inc .

The Dow Jones industrial average <.DJI> dropped 145.64 points, or 1.41 percent, to 10,152.80. The Standard & Poor's 500 Index <.SPX> fell 18.35 points, or 1.68 percent, to 1,073.70. The Nasdaq Composite Index <.IXIC> lost 36.81 points, or 1.63 percent, to 2,217.42.

NYMEX-NEW YORK, June 24 (Reuters) - U.S. crude oil futures settled slightly higher on Thursday after a choppy session as the dollar's weakness and a lingering threat of tropical weather in the Gulf of Mexico helped crude recover from an early slide.

Both crude futures and the dollar seesawed and traders noted crude found support at the intraday low of $75.32, which was just below technical support charted at $75.3.

Some support came on Thursday from data showing new U.S. jobless benefit claims fell last week, while orders for durable goods excluding transportation rose in May, though overall durable goods orders fell.

On the New York Mercantile Exchange, August crude rose 16 cents, or 0.21 percent, to settle at $76.51 a barrel, trading from $75.32 to $76.57, staying inside Wednesday's $75.17 to $77.83 trading range.

CBOT-CHICAGO, June 24 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.

CBOT-SOYBEANS - July down 2-1/2 cents at $9.55-1/2 per bushel; new-crop November down 11-1/2 at $9.12. Pressured by deferred months on bull-spreading and a turn to drier weather in the U.S. Midwest that will boost growth of the 2010 crop. Tight cash and slow farmer selling underpin nearby July.

CBOT-SOYOIL - July down 0.42 cent at 37.17 cents per lb. Pressure from weak crude oil and meal/oil spreading.

FCPO-KUALA LUMPUR, June 24 (Reuters) - Malaysian crude palm oil futures made little headway on Thursday as players took positions ahead of export data expected to be strong, although lacklustre crude markets curbed gains.

This week, cargo surveyors reported a jump of at least 15.5 percent in Malaysian palm oil exports for June 1-20 from the same period a month ago. Exports for June 1-25 will be released on Friday.

The benchmark September crude palm oil futures on the Bursa Malaysia Derivatives Exchange ended 0.3 percent or 6 ringgit higher at 2,390 ringgit ($740.6) per tonne. Traded volume at 12,431 lots of 25 tonnes each, well above the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 24 (Reuters) - Southeast Asian stock markets fell further on Thursday as investors sold energy and resource shares after comments from the Federal Reserve about the faltering U.S. economic recovery.

Equities in the region erased early gains and investors traded cautiously, taking their lead from U.S. stock futures, which pointed to a lower start on Thursday.

Singapore's Straits Times Index <.FTSTI> fell for a third session, losing another 0.8 percent to its lowest in almost a week. Indonesia <.JKSE> and the Philippines <.PSI> also fell for a third day, posting smaller losses.

Malaysia <.KLSE>, Thailand <.SETI> and Vietnam <.VNI> also ended the session lower, quickly reversing gains on Wednesday.

Thursday, June 24, 2010

Trader's Highlight

DJI-NEW YORK, June 23 (Reuters) - The dollar weakened across the board while Treasuries rallied on Wednesday after the U.S. Federal Reserve acknowledged a faltering economic recovery and data showed sales of new U.S. homes fell to a lifetime low.

U.S. stocks, which traded mostly down since the market's open, zigzagged and closed mostly lower after the Fed issued its monetary policy statement, which suggested interest rates will remain near zero longer than expected. The Dow industrials, however, eked out a tiny gain just as the regular sesssion ended.

The Dow Jones industrial average <.DJI> edged up 4.92 points, or 0.05 percent, to end at 10,298.44, while the Standard & Poor's 500 Index <.SPX> dropped 3.27 points, or 0.30 percent, to 1,092.04. The Nasdaq Composite Index <.IXIC> fell 7.57 points, or 0.33 percent, to 2,254.23

NYMEX-NEW YORK, June 23 (Reuters) - U.S. crude oil futures fell for a second straight day on Wednesday, slipping almost 2 percent after the government reported crude oil stocks rose last week.

The U.S. Energy Information Administration's oil inventory report showed crude stocks rose 2.0 million barrels last week, against expectations for an 800,000 barrel drop.

On the New York Mercantile Exchange, front-month August crude fell $1.50 or 1.93 percent, to settle at $76.35 a barrel, trading from $75.17 to $77.83.

CBOT-CHICAGO, June 23 (Reuters) - Chicago Board of Trade grains and soy complex close on Wednesday.

CBOT-SOYBEANS - July down 7-1/2 cents at $9.58 per bushel; new-crop November down 12-1/2 at $9.23-1/2. Pressured by profit-taking from this week's one-month highs and overall satisfactory U.S. crop weather, with welcome drier conditions expected next week.

CBOT-SOYOIL - July down 0.34 cent at 37.59 cents per lb. Spillover pressure from weakness in soybeans and crude oil.

FCPO-KUALA LUMPUR, June 23 (Reuters) - Malaysian crude palm oil futures gained a touch on Wednesday, bouncing back from the previous day's slide, as the ringgit's fall lifted domestic investors' risk appetite, traders said.

The Malaysian ringgit weakened 0.4 percent, in line with other Asian currencies, as hopes faded that the Chinese yuan would appreciate quickly and boost the region's currencies. [ID:nSGE65M0C1]

The ringgit's easing has given some respite for refiners, as palm oil is priced in the Malaysian currency and its firming erodes margins.

Benchmark September crude palm oil contract on Bursa Malaysia Derivatives Exchange rose 0.3 percent or 7 ringgit to 2,384 ringgit ($741) a tonne, after falling as low as 2,371 ringgit on Tuesday. Traded volume was 13,938 lots of 25 tonnes each, well above the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 23 (Reuters) - Equities in Malaysia and Thailand gained on Wednesday as investors bought airlines and sectors seen as beneficiaries of China's more flexible yuan policy although overall optimism over the yuan faded.

Other Southeast Asian bourses, including Singapore and Indonesia, regained most of their early losses, while investors awaited a rate decision by the U.S. Federal Reserve, and U.S. stocks pointed to a higher open on Wednesday. U.S. stock index futures were up 0.43 percent at 1017
GMT.

Malaysia's main share index <.KLSE> and the Thai SET index <.SETI> ended up 0.47 percent and 0.3 percent, respectively, after both lost ground early. Vietnam <.VNI> inched slightly higher.

Singapore <.FTSTI> eased 0.04 percent, Indonesia <.JKSE> and the Philippines <.PSI> each fell 0.3 percent.

Wednesday, June 23, 2010

Breaking News-RTRS-CHINA MAY BUY MORE U.S. SOYOIL IF TRADE DISPUTE WITH ARGENTINA IS NOT RESOLVED - OIL WORLD

HAMBURG, June 22 (Reuters) - China is likely to buy more soyoil from the United States if it cannot resolve a trade dispute with major supplier Argentina, Hamburg-based oilseeds analyst Oil World forecast on Tuesday.

Trader's Highlight

DJI-NEW YORK, June 22 (Reuters) - U.S. stocks fell more than 1 percent in yet another late-day selloff on Tuesday as unexpectedly poor housing figures and the puncture of a key technical level sapped buying interest.

Stocks marked time in a thinly traded session until the S&P 500 fell through its 200-day moving average, which had been a basis of support in the last few days.

The Dow Jones industrial average <.DJI> dropped 148.96 points, or 1.43 percent, to 10,293.45. The Standard & Poor's 500 Index <.SPX> fell 17.86 points, or 1.60 percent, to 1,095.34. The Nasdaq Composite Index <.IXIC> lost 27.29 points, or 1.19 percent, to 2,261.80. The S&P 500 ended below 1111.33, the 200-day moving average.

NYMEX-NEW YORK, June 22 (Reuters) - U.S. crude oil futures ended lower on Tuesday as traders sold off the July contract before it expired at the close and amid caution ahead of weekly petroleum inventory reports.

The day's losses developed as both the dollar and the euro fell against yen as risk appetite soured on doubts about how much China will allow the yuan to appreciate.

On the New York Mercantile Exchange, July crude settled at $77.21 a barrel, down 61 cents, or 0.78 percent, after trading from $76.53 to $78.10.

CBOT-CHICAGO, June 22 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.

CBOT-SOYBEANS - July up 2-1/4 at $9.65-1/2 per bushel; new-crop November down 3 at $9.36. Supported by concerns about hot and dry weather in the U.S. Mississippi River Delta crop region, hot and dry weather in northeast China and tight available old-crop supplies.

CBOT-SOYOIL - July down 0.12 cent at 37.93 cents per lb. Pressure from soymeal/soyoil spreading.

FCPO-KUALA LUMPUR, June 22 (Reuters) - Malaysian crude palm oil futures ended 1.2 percent lower on Tuesday, in line with other vegetable oil markets, on expectations the Chinese yuan's appreciation may not translate into higher commodity demand.

China's spot yuan soared on Tuesday after the central bank set the currency's daily mid-point at the highest level against the dollar since a revaluation in July 2005, signaling the yuan's ascent may continue.

Crude oil and soyoil, which palm oil tracks, fell and some traders said commodity markets may have overreacted on China's yuan moves.

A yuan appreciation should make commodity imports cheaper and boost volumes, but it also strengthens the Malaysian ringgit , which then eats into palm oil refiner margins as the commodity is priced in that currency.

The benchmark September crude palm oil contract on Bursa Malaysia Derivatives Exchange fell 28 ringgit to 2,377 ringgit ($746.1) per tonne after touching an intraday low at 2,375 ringgit. On Monday, the contract hit a one-week high at 2,421 ringgit. Volumes stood at 12,268 lots of 25 tonnes each, above the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 22 (Reuters) - Southeast Asian stock markets
fell back on Tuesday as investors had second thoughts about the immediate benefits to trade-dependent economies in the region of China's move to let the yuan be more flexible.

Singapore <.FTSTI>, Southeast Asia's biggest bourse by market value, ended down 0.5 percent -- turning round from a 1.8 percent rise the day before that took it to its highest in almost six weeks -- as the euphoria over China's currency policy faded.

Malaysia <.KLSE> lost 0.9 percent, Indonesia <.JKSE> 0.3 percent, Thailand <.SETI> 0.24 percent, the Philippines <.PSI> 0.2 percent and Vietnam <.VNI> 0.4 percent.

Singaporean palm plantation firm Wilmar International lost 1 percent and Malaysia's IOI Corp shed 1.5 percent in line with weaker Malaysian crude palm oil futures.

Tuesday, June 22, 2010

Trader's Highlight

DJI-NEW YORK, June 21 (Reuters) - U.S. stocks ended down on Monday as initial optimism about China's dedication to yuan flexibility faded.

Based on the latest available data, the Dow Jones industrial average <.DJI> was down 8.23 points, or 0.08 percent, at 10,442.41. The Standard & Poor's 500 Index <.SPX> was down 4.30 points, or 0.38 percent, at 1,113.21. The Nasdaq Composite Index <.IXIC> was down 20.71 points, or 0.90 percent, at 2,289.09.

NYMEX-NEW YORK, June 21 (Reuters) - U.S. crude oil futures ended at a six-week high on Monday as risk appetite improved on hopes of higher oil demand after China allowed more flexibility in its currency.

Prices rose for the second day in a row, but a late drop in the euro against the dollar limited gains. Technical resistance at around $79 for NYMEX July crude , which is expiring on Tuesday, also helped trim gains.

On the New York Mercantile Exchange, crude for July delivery settled up 64 cents, or 0.83 percent, at $77.82 a barrel, the highest close since May 5's $79.97. It traded from $76.88 to $78.92, the highest since the May 6 intraday peak of $80.3.

CBOT-CHICAGO, June 21 (Reuters) - Chicago Board of Trade grains and soy complex close on Monday.

CBOT-SOYBEANS - July up 2-1/4 at $9.63-1/4 per bushel; new-crop November up 8-1/2 at $9.39. Support from news over the weekend that China would allow the yuan to float, giving the world's top soy buyer increased buying power. Also support from a turn to hot and dry weather in the U.S. Delta Southeast and in northeast China.

CBOT-SOYOIL - July up 0.13 cent at 38.05 cents per lb. Following soybeans. Funds bought 1,000 contracts.

FCPO-KUALA LUMPUR, June 21 (Reuters) - Malaysian crude palm oil futures ended a touch higher on Monday on a broader market rally and strong export data but finished well off intraday highs as the ringgit's jump raised fears about refining margins.

The Malaysian ringgit jumped around 2 percent to a near two-month high after China moved to a more flexible exchange rate policy, lifting risk currencies on most markets.

The currency shift could make imports cheaper and boost volumes, but a stronger ringgit eats into refiners' margins since crude palm oil is priced in that currency.
The benchmark September crude palm oil contract on Bursa Malaysia rose 0.2 percent at 2,405 ringgit ($739.8) a tonne after rising earlier to a high of 2,421 ringgit, its best level since June 11. Traded volume rose to 13,643 lots of 25 tonnes each from the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 21 (Reuters) - Southeast Asian stock markets climbed higher on Monday after China moved to allow the yuan more flexibility, which boosted confidence in global markets, pushing up shares in coal miners and commodity-related sectors.

Fund flows to the region sent Singapore shares <.FTSTI> to their highest in almost six weeks, Malaysia <.KLSE> hit a four-week high and Thailand <.SETI> hovered around its highest in more than two months.

Airline shares moved higher, with Singapore Airlines up 1.7 percent and Malaysian Airline Systems up 0.5 percent.

Monday, June 21, 2010

Trader's Highlight

DJI-NEW YORK, June 18 (Reuters) - U.S. stocks ground higher in another lightly traded session on Friday, ending a nervous week with gains despite signs of economic weakness at home and worries about public debt in Europe.

Major indexes rose for the second straight week even though housing and labor market data raised concern about the fragility of the recovery. The S&P 500 closed above its 200-day moving average for the third straight session, which suggests resilience.

The Dow Jones industrial average <.DJI> gained 16.47 points, or 0.16 percent, to 10,450.64. The Standard & Poor's 500 Index <.SPX> rose 1.47 points, or 0.13 percent, to 1,117.51. The Nasdaq Composite Index <.IXIC> added 2.64 points, or 0.11 percent, to 2,309.80.

NYMEX-NEW YORK, June 18 (Reuters) - U.S. crude oil futures edged up on Friday, gaining for the second week in a row, as the market tracked slightly higher prices on Wall Street.

But oil traders worried that the prospect of slower growth in China was a sign that oil demand could falter, and that helped limit the day's gains. Data earlier in the week showing crude oil inventories rose and more workers filed jobless benefit claims also weighed on crude.

On the New York Mercantile Exchange, July crude settled up 39 cents, or 0.51 percent, at $77.18 a barrel, trading from $75.56 to $77.45. It ended the week up $3.40, or 4.61 percent.

CBOT-CHICAGO, June 18 (Reuters) - Chicago Board of Trade grains and soy complex close on Friday.

CBOT-SOYBEANS - July up 9 cents at $9.61 per bushel. Support from a sale of U.S. soy to an unknown destination, a sale of U.S. soyoil to China and forecasts for hotter and drier weather in the U.S. Delta Southeast. Wet weather in Canada that was trimming canola prospects also supportive.

CBOT-SOYOIL - July down 0.13 cent at 37.92 cents per lb. Late profit-taking ahead of the weekend and after early gains weighed on soyoil futures.

FCPO-KUALA LUMPUR, June 18 (Reuters) - Malaysian crude palm oil futures inched up on Friday, extending gains from the previous day, buoyed by increased optimism about the pace of the global economic recovery.

World stocks rose for a ninth day running on Friday, extending a modest rally that has seen U.S. and European shares regain all their losses for the year, as the worst fears about the euro zone sovereign debt eased.

The benchmark September crude palm oil futures on Bursa Malaysia Derivatives Exchange traded up 2 ringgit at 2,400 ringgit ($736.9) a tonne after rising as high as 2,420 ringgit earlier in the session. Traded volume rose to 11,864 lots of 25 tonnes each, versus the usual 10,000 tonnes.

REGIONAL EQUITIES-BANGKOK, June 18 (Reuters) - Most Southeast Asian stocks rose on Friday after faring better over the week as regional economic optimism shielded investors from nagging worry over European debt and mixed global economic data.

Share markets in the region gained positive fund flows in the week amid strong trade data in May, including that of Thailand and Singapore, which analysts said helped boost hopes that economic growth was on track and boded well for market outlooks.

MSCI's Singapore <.MISG00000PSG> eased 3.5 percent, compared with a 6.05 percent fall of MSCI's index of Asian shares outside Japan.

Friday, June 18, 2010

Trader's Highlight

DJI-NEW YORK, June 17 (Reuters) - U.S. stocks fell on Thursday as slowing regional factory activity and jobless claims underscored worries about the pace of the economic recovery.

Shares of manufacturers fell, including 3M Co , which was down 0.6 percent at $80.43, while the consumer discretionary sector also dragged the market lower. The S&P retail index <.RLX> declined 1.5 percent.

NYMEX-NEW YORK, June 17 (Reuters) - U.S. crude oil futures fell on Thursday amid a rise in jobless claims, a report showing factory growth plummeted in the U.S. Mid-Atlantic region and the expiration of July crude options.

Brent front-month crude finished higher, holding on to some of its early gains on optimism tied to a Spanish bond auction. NYMEX refined products also ended higher on refinery glitches and signs of improving demand, also pushing up heating
oil product crack spreads.

On the New York Mercantile Exchange, July crude fell 88 cents, or 0.88 percent, to settle at $76.79 a barrel, trading from $76.17 to $77.79.

CBOT-CHICAGO, June 17 (Reuters) - Chicago Board of Trade grains and soy complex close on Thursday.

CBOT-SOYBEANS - July down 5-3/4 at $9.52 per bushel; new-crop November up 1/2 at $9.25. Spot July weighed down by low soy number in USDA's weekly export sales report, including a cancellation by Japan. Other months held relatively firm versus July on wet weather in Canada that was trimming canola output prospects.

CBOT-SOYOIL - July down 0.08 cent at 38.05 cents per lb. Pressure from lower crude oil and weak close in spot July soy.

FCPO-KUALA LUMPUR, June 17 (Reuters) - Malaysian palm oil futures gained 0.8 percent on Thursday on technical buying as crude oil prices bounced off lows as investor risk appetite revived following a successful Spanish bond auction.

Crude oil, a barometer for commodity markets trimmed earlier losses and was trading above $77 a barrel on Thursday.

The benchmark September crude palm oil futures on Bursa Malaysia Derivatives Exchange ended 18 ringgit higher at 2,398 ringgit ($736.9) a tonne. The contract had hit a fresh seven-month low the previous day.

Traded volume rose to 13,435 lots of 25 tonnes each from the usual 10,000 tonnes.

REGIONAL EQUITIES-BANGKOK, June 17 (Reuters) - Indonesian shares gained more than 1 percent on Thursday and most other Southeast Asian bourses edged higher as optimism about the region's growth prospects bolstered appetite for shares reliant on domestic economies.

In Bangkok, the index hit its highest since May 4, with Total Access Communication climbing 2.8 percent on expectations the country's second-largest mobile phone firm would win a bid for 3G mobile licences scheduled for August.

Indonesia's benchmark stock index <.JKSE> rose for a fifth session, closing at its highest level since May 5, with state lender Bank Mandiri up 2.7 percent and number six lender Bank Danamon up 5.9 percent.

Malaysia <.KLSE> inched up 0.1 percent, led by financial firms, with AMMB Holdings up 1.2 percent and Hong Leong Bank 1.8 percent higher.

Singapore's main share index <.FTSTI>, bucking the regional trend, edged down 0.1 percent, turning lower after a 1 percent gain on Wednesday to its highest in almost five weeks.

Thursday, June 17, 2010

Trader's Highlight

DJI - NEW YORK, June 16 (Reuters) - U.S. stocks finished flat on Wednesday as cautious comments from FedEx and weak housing market data overshadowed a surge in industrial production.

Investors were caught off guard after package company FedEx Corp , deemed an economic bellwether because it serves a wide range of industries, said higher costs would constrain 2011 earnings. FedEx shares slid 6 percent to
$78.07.

The U.S. government said housing starts fell more than expected in May, underscoring the uneven nature of the economic recovery and casting a shadow over better-than-expected industrial production data for the same month.

NYMEX - NEW YORK, June 16 (Reuters) - U.S. crude oil futures rose a third straight session on Wednesday, ending a choppy session at a six-week high amid mixed economic data and a government inventory report that showed crude oil stocks rose and gasoline stocks fell last week.

"The ability of the energy complex to advance significantly today without much assistance from the euro or equities suggests an energy momentum play at work," Jim Ritterbusch, president at Ritterbusch & Associates, said in a note.

Oil prices have rebounded from the 2010 low of $64.24 a barrel struck May 20. The S&P 500 index moved above its 200-day moving average on Tuesday, helping push NYMEX crude above its own key 200-day moving average.

CBOT - SOYBEANS - July up 8-1/4 at $9.57-3/4 per bushel; new-crop November up 9 at $9.24-1/2. Talk that China has bought one to two cargoes of beans supportive to prices in addition to support from excessive wet weather in Canada that was trimming canola output prospects. Some local flooding and excessive rainfall in portions of U.S. Midwest delaying final soy plantings. But outlooks called for warmer and drier weather over the next week to 10 days.

CBOT - SOYOIL - July up 0.32 cent at 38.13 cents per lb. Soybean strength supportive in addition to support from higher crude oil. U.S. Senate raises roadblock to biodiesel tax credit.

FCPO - KUALA LUMPUR, June 16 (Reuters) - Malaysian crude palm oil futures rose on Wednesday after hitting seven-month lows earlier in the day as healthy demand for European debt securities re-ignited hopes for global economic growth.

World stocks hit a one-month high and the euro briefly hit a two-week peak as strong gains on Wall Street and the relative success of this week's European debt auctions encouraged risk taking.

The benchmark September crude palm oil contract on the Bursa Malaysia Derivatives Exchange ended 14 ringgit higher at 2,380 ringgit ($728.5) a tonne. The contract feel earlier to a low of 2,367 ringgit, a level unseen since Nov. 20 last year.

Traded volume was heavy, almost doubling to 19,375 lots of 25 tonnes each.

REGIONAL EQUITIES - BANGKOK, June 16 (Reuters) - Indonesian shares climbed to
their highest level in six weeks on Wednesday as investors piled into index heavyweights amid general optimism over the economy on a day its central bank announced measures to manage capital flows.

Jakarta's benchmark stock index <.JKSE> finished the session 1 percent higher, at one point touching its highest since May 5.

Successful European debt auctions boosted hopes for global growth and lifted sentiment in Asian stock markets, with Singapore <.FTSTI> at its highest in almost five weeks, Malaysia <.KLSE> at four-week highs and Thailand <.SETI> six-week highs.

Wednesday, June 16, 2010

Trader's Highlight

DJI - NEW YORK, June 15 - U.S. stocks jumped on Tuesday as investors went on a buying binge. The S&P 500 turned positive for the year and rose above its 200-day moving average for the first time in a month, suggesting the recent downtrend may be nearing an end.

Investors were motivated by successful debt auctions in Spain, Belgium and Ireland, which lifted some of the gloom over Europe's debt crisis. The euro rallied against the dollar and pushed commodity prices higher.

The Dow Jones industrial average gained 213.88 points, or 2.10 percent, to 10,404.77. The Standard & Poor's 500 Index gained 25.60 points, or 2.35 percent, to
1,115.23. The Nasdaq Composite Index gained 61.92 points, or 2.76 percent, to 2,305.88.

NYMEX - NEW YORK, June 15 - U.S. crude oil futures ended at the highest level in more than five weeks on Tuesday, rising for the second day in a row, on heightened risk appetite as Wall Street and the euro rallied after debt auctions in Europe
raised confidence in global economic recovery.

On the New York Mercantile Exchange, July crude settled at $76.94 a barrel, gaining $1.82, or 2.42 percent. The settlement was the highest since the May 6 front-month close at $77.11. It traded from $74.62 to $77.16, the highest since the
intraday peak of $77.68 on May 11.

CBOT - SOYBEANS - July down 2 cents at $9.49-1/2 per bushel. Profit-taking after rally to one-month high weighs on market. Early support from a decline in U.S. soy condition ratings and wet weather in Canada that is expected to trim canola output and further support from gains in crude oil.

CBOT - SOYOIL - July up 0.42 cent per lb at 37.81 cents per lb. Support from gains in crude oil and unwinding of meal/oil spreads.

FCPO - KUALA LUMPUR, June 15 - Malaysian palm oil futures ended at more than 7-month lows on Tuesday as investors took profit after key export figures came in below expectations and renewed worries over Europe's debt crisis rattled equities.

Exports of Malaysian palm oil products for June 1 to 15 were down 2 percent compared to the same period last month, according to cargo surveyor Societe Generale de Surveillance.

But another surveyor, Intertek Testing Services, reported a 1.5 percent rise in palm oil products exported through ports it monitors during the period.

The benchmark August crude palm oil futures on Bursa Malaysia Derivatives Exchange fell 0.8 percent or 19 ringgit to 2,391 ringgit ($735.4) a tonne after dropping earlier to a low of 2,378 ringgit, a level unseen since Nov 20 last year.

REGIONAL EQUITIES
- BANGKOK, June 15 - Indonesian shares climbed to their highest in almost a month on Tuesday as optimism over the country's sound economic fundamentals bolstered sentiment while undervalued shares elsewhere in the region attracted buyers.

Despite generally positive sentiment, Moody's downgrade of Greece's credit rating pulled Southeast Asian share markets off their highs for the day and most finished their sessions just slightly higher.

Indonesia's main share index , Asia's second best performing market this year, ended the day up 0.12 percent, after rising earlier to its highest level since May 17.

In Singapore, the index ended just flat, with commodity firm Noble Group up 2.2 percent and telecom firm Singapore Telecom down 0.33 percent.

Tuesday, June 15, 2010

Trader's Highlight

DJI-NEW YORK, June 14 (Reuters) - U.S. stocks ended little changed in a low-volume session on Monday after a downgrade of Greece's debt took the wind out of the market's sails.

Equities have been sensitive to debt problems in Greece and other European nations in recent months on concerns the euro zone's fiscal problems will hamper a global economic recovery.

The Dow Jones industrial average <.DJI> slipped 20.18 points, or 0.20 percent, to 10,190.89. The Standard & Poor's 500 Index <.SPX> shed 1.97 points, or 0.18 percent, to 1,089.63. But the Nasdaq Composite Index <.IXIC> inched up just 0.36 of a point, or 0.02 percent, to 2,243.96.

NYMEX-NEW YORK, June 14 (Reuters) - U.S. crude oil futures ended almost 2 percent higher on Monday, as risk appetite improved on economic recovery optimism after data showed that euro zone industrial production rose, boosting the euro and causing the dollar to decline.

But a credit downgrade of Greece by Moody's Investor Service sparked caution and limited the day's gains.

On the New York Mercantile Exchange, crude for July delivery settled $1.34 higher, or 1.82 percent, at $75.12 a barrel, trading from $74.04 to $75.99.

CBOT-CHICAGO, June 14 (Reuters) - Chicago Board of Trade grains and soy complex close higher on Monday.

CBOT-SOYBEANS - July up 5-1/4 cents at $9.51-1/2 per bushel; new-crop November up 7 at $9.16-1/4. Boosted by weak dollar, higher crude oil and strength in wheat. Front-month July gaining on new-crop November as spreads narrowed.

CBOT-SOYOIL - July up 0.49 cent at 37.39 cents per lb. Following strength in soybeans and crude oil market. Additional support from concern about weather problems curtailing canola production in Canada; canola oil competes with soyoil.

FCPO-KUALA LUMPUR, June 14 (Reuters) - Malaysian crude palm oil futures gained more than 1 percent on Monday, boosted by China's aggressive buying of soyoil.

Palm oil rivals and tracks soyoil as both vegetable oils compete for use in the food and industrial sectors. The tropical oil has been trading at a premium to soyoil due to weak Malaysian production and a bumper soy crop from South America.

In a sign the global economy is growing, the U.S. reported last week that China had bought 80,000 tonnes of soyoil, lifting Chicago futures <0#BO:> in Asian trade on Monday.

The benchmark August crude palm oil futures on Bursa Malaysia Derivatives Exchange ended 24 ringgit higher at 2,410 ringgit ($734.1) a tonne. Last week, the market fell to more than seven-month lows.

REGIONAL EQUITIES-BANGKOK, June 14 (Reuters) - Thai stocks rose 1.5 percent on Monday as higher consumer confidence boosted appetite for companies reliant on the domestic economy, while energy shares in the region got a lift from a strong oil market.

The Thai index <.SETI> ended at its highest level since May 11, rising for a fourth session as investors bought shares likely to benefit from the improving economy and as political tension eased after the end of disruptive protests in the capital.

Singapore <.FTSTI> rose 0.8 percent, Malaysia <.KLSE> edged up 0.2 percent and Vietnam <.VNI> added 0.8 percent. The Philippines <.PSI> was shut for a market holiday.

Resource shares in the region were higher with Malaysia's Tenaga Nasional up 0.12 percent, Indonesian coal firm Adaro Energy up 1.1 percent and Singapore's palm plantation firm Wilmar International up 1.4 percent.

Monday, June 14, 2010

Trader's Highlight

DJI-NEW YORK, June 11 (Reuters) - U.S. stocks rose in a late rally on Friday as a strong forecast from a chip maker lifted tech shares and helped alleviate concerns about the economy's health after an unexpected drop in retail sales.

National Semiconductor Corp rose 5 percent to $14.21 a day after it forecast margins and revenues above estimates after a horrible 2009. The Philadelphia Semiconductor index <.SOXX> rose 1.4 percent.

The Dow Jones industrial average <.DJI> gained 38.54 points, or 0.38 percent, to 10,211.07. The Standard & Poor's 500 Index <.SPX> rose 4.76 points, or 0.44 percent, to 1,091.60. The Nasdaq Composite Index <.IXIC> climbed 24.89 points, or 1.12 percent, to 2,243.60.

NYMEX-NEW YORK, June 11 (Reuters) - U.S. crude oil futures ended lower on Friday, snapping a three-day winning streak, as disappointing retail sales outshadowed a report of improved consumer mood, underlining the shaky pace of economic recovery.

Data showing slowing industrial output in China also pressured prices earlier in the day.

On the New York Mercantile Exchange, crude for July delivery settled at $73.7a barrel, down $1.70, or 2.25 percent, after trading from $73.26 to $75.64.

CBOT-CHICAGO, June 11 (Reuters) - Chicago Board of Trade grains and soy complex trends at 12:45 p.m. CDT (1745 GMT) on Friday.

CBOT-SOYBEANS - July up 4 cents at $9.39 per bushel; new-crop November up 5-3/4 at $9.00-1/2. Rallying in seesaw trade on spillover from corn and wheat, and ideas Thursday's declines were overdone.

CBOT-SOYOIL - July down 0.01 cent at 36.74 cents per lb. Pressured by declines in crude oil.

FCPO-KUALA LUMPUR, June 11 (Reuters) - Malaysian palm oil futures on Friday fell to more than seven-month lows as investors took profit due to palm oil's premium to rival soyoil in cash markets and concerns over Europe's debt crisis.

The market has lost 3.6 percent alone for this week despite bullish export and stocks data as investors remained uncertain over the recovery of the global economy. Palm oil has so far declined more than 10 percent this year.

The benchmark August crude palm oil futures on Bursa Malaysia Derivatives Exchange ended 1 percent lower to 2,386 ringgit ($723) per tonne after going as low as 2,379 ringgit -- a level unseen since Nov. 20 last year.

Overall traded volume almost doubled to 19,312 lots of 25 tonnes each, compared with the usual 10,000 lots.

REGIONAL EQUITIES-BANGKOK, June 11 (Reuters) - Indonesian shares gained more than 1 percent on Friday, leading gains in most other Southeast Asian markets, as investors bought resource shares because of strength in oil prices.

Optimism that the world economic recovery was on track despite Europe's debt woes bolstered sentiment, although stock markets in Singapore <.FTSTI>, Malaysia <.KLSE>, Thailand <.SETI> and Vietnam <.VNI> posted smaller gains.

In Singapore, banking shares extended gains amid optimism about growth in the city-state's economy, with top lender DBS Group Holdings and United Overseas Bank each rising more than 1 percent.