Tuesday, November 2, 2010

Trader's Highlight

DJI-NEW YORK, Nov 1 (Reuters) - Investors were reluctant to make big bets ahead of two events that could dictate the stock market's direction for the rest of the year and beyond, leaving shares little changed on Monday.

U.S. factory activity in October expanded and construction spending rose unexpectedly in September, reports showed. Other data showed manufacturing in China expanded at the fastest pace in six months in October.

The Dow Jones industrial average <.DJI> was up 6.13 points, or 0.06 percent, at 11,124.62. The Standard & Poor's 500 Index <.SPX> was up 1.12 points, or 0.09 percent, at 1,184.38. The Nasdaq Composite Index <.IXIC> was down 2.57 points, or 0.10 percent, at 2,504.84.

NYMEX-NEW YORK, Nov 1 (Reuters) - U.S. crude oil futures ended nearly 2 percent higher on Monday, boosted by comments from the Saudi Arabian oil minister that an oil price between $70 and $90 a barrel was comfortable for consumers.

Expectations that the U.S. Federal Reserve will announce a second round of quantitative easing to help boost the U.S. economy, upbeat manufacturing data from China and the United States, and early weakness in the U.S. dollar encouraged fund buying, analysts said.

On the New York Mercantile Exchange, crude for December delivery settled up $1.52, or 1.87 percent, at $82.95 a barrel, trading from $81.32 to $83.86.

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

CBOT-SOYBEANS - November down 3/4 cent at $12.25-1/4 per bushel; January down 1 at $12.35. Scattered rainfall and more seasonal temperatures help ease stress for soybeans in northern Brazil and rain may encourage additional planting in the area. Periodic rainfall will maintain favorable conditions for early planted corn and soybeans in Argentina and the next chance of rain appears to be for this coming weekend.

CBOT-SOYOIL - December up 0.45 cent at 49.75 cents per lb. Support from gains in crude oil.

FCPO-KUALA LUMPUR, Nov 1 (Reuters) - Malaysian palm oil futures hit a new 27-month high on Monday on concern heavy rains may affect palm oil yields and a weak dollar trend lent support.

The dollar has come under pressure against most major currencies as the market anticipates the U.S. Federal Reserve will step up money printing after its policy meeting on Tuesday and Wednesday.

Benchmark Malaysian crude palm oil futures rose as much as 1.2 percent to 3,098 Malaysian ringgit ($1,002) per tonne -- a level unseen since July 28. 2008 and a touch below a key resistance level.

The contract ended at 3,092 ringgit. Overall traded volume stood at 14,307 lots of 25 tonnes each, down from the usual 10,000 lots.

REGIONAL EQUITIES-COLOMBO, Nov 1 (Reuters) - Southeast Asian stock markets rose on Monday on hopes of good demand for the region's exports as data from China and India showed strong production growth, ahead of possible quantitative easing measures in the United States.

Indonesia <.JKSE>, the region's best bourse with a gain of around 44 percent this year, rose 0.3 percent after an early drop, Singapore <.FTSTI> jumped 1.6 percent, Thailand <.SETI> closed 1.9 percent firmer and Malaysia <.KLSE> gained 0.3 percent.

Vietnam <.VNI> bucked the trend with a 0.4 percent fall, while the Philippines <.PSI> was closed for a holiday.

In Singapore, second-biggest lender Oversea-Chinese Banking Corp posted a 27 percent rise in quarterly profit, beating expectations, and its shares rose 2.3 percent.

Despite a net foreign outflow of $58.4 million on Monday, banking shares helped lift the Indonesian index, with a rise of over 13 percent in Bank Mega and Bank Thabungan PN .

Friday, October 29, 2010

Trader's Highlight

DJI-NEW YORK, Oct 28 (Reuters) - Global stocks rose despite Wall Street's mixed finish and the dollar's slide on Thursday as investors pulled back before expected upheaval from next week's U.S. elections and the likelihood of more monetary easing.

Oil prices ended higher, supported by an unexpected drop in new U.S. jobless claims to a three-month low and a dollar that weakened over rising worries about the extent of a second round of stimulus by the U.S. Federal Reserve next week.

The Dow Jones industrial average <.DJI> slipped 12.33 points, or 0.11 percent, to end at 11,113.95. The Standard & Poor's 500 Index <.SPX> edged up 1.33 points, or 0.11 percent, to 1,183.78. The Nasdaq Composite Index <.IXIC> rose 4.11 points, or 0.16 percent, to close at 2,507.37.

NYMEX-NEW YORK, Oct 28 (Reuters) - U.S. crude oil futures prices edged up in choppy trading on Thursday, receiving lift from the weak dollar and a report showing U.S. jobless benefits claims fell last week.

Those factors offset a dip by shares on Wall Street as markets remained cautious about the extent of expected Federal Reserve monetary easing that may emerge from the central bank's next policy meeting in early November.

On the New York Mercantile Exchange, December crude rose 24 cents, or 0.29 percent, to settle at $82.18 a barrel, trading from $81.50 to $82.64.

CBOT-CHICAGO, Oct 28 (Reuters) - Chicago Board of Trade grain and soybean complex close on Thursday.

CBOT-SOYBEANS - November up 1-1/4 cents at $12.25 per bushel; January unchanged at $12.36. Soaring wheat lends support along with brisk U.S. export sales, especially to China. Weak dollar, gains in gold also lend support. Gains trimmed on late profit-taking and unwinding of soy/wheat spreads.

CBOT-SOYOIL - December up 0.10 cent at 49.70 cents per lb. Support from higher soybeans and dollar weakness, but crude oil turns lower and profit-taking trimmed gains by the close of trading. Hefty U.S. Census soyoil stocks figure limits rally.

FCPO-KUALA LUMPUR, Oct 28 (Reuters) - Malaysian palm oil futures hit more than a two-year high on Thursday on a firmer soy complex driven by lingering weather concerns and the weaker U.S. dollar.

The palm oil market, which broke a two-day losing streak, was also supported by the start of the annual monsoon season this month that brings more rainfall and can hamper harvesting in major oil palm growing areas in Indonesia and Malaysia.

The benchmark Jan 2011 crude palm oil contract on Bursa Malaysia Derivatives ended 1.6 percent higher at 3,064 ringgit ($986.5), after rising as much as 3,086 ringgit ($993.5) -- its strongest level since July 28. 2008. Traded volume more than doubled to 20,472 lots of 25 tonnes each.

REGIONAL EQUITIES-BANGKOK, Oct 28 (Reuters) - Most Southeast Asian stock markets eked out slim gains on Thursday as investors selectively built up positions for the reporting season, and demand for resource shares picked up because of stronger commodity prices.

But share markets were below the highs set early this month and risk appetite was fairly low ahead of a U.S. Federal Reserve meeting next week that is expected to provide clues on the scale of asset purchases in the next round of quantitative easing (QE).

On the day, Singapore <.FTSTI> inched up 0.2 percent, reversing a fall to a three-week low on Wednesday, Malaysia <.KLSE> ended a tad higher, recouping an early loss, and Indonesia <.JKSE> gained 0.4 percent.

Among regional gainers, Singapore's Oversea-Chinese Banking Corp Ltd rose 0.7 percent and Malaysia's CIMB Group Holdings Berhad gained 0.5 percent.

Singapore and Malaysian banks are set to post strong earnings -- following Thai banks -- as bad debt slumps, housing loans rise and fees from underwriting stock offerings as well as wealth management services climb.