FKLI Daily: technically oversold

Market is technically oversold and may due for a short term technical rebound following a white candle printed. We now look for the upside resistance at 871.5-883. While, support is pegged at 803.5.

KLSE Daily: covering upside gap

Market looks may challenge to cover its upside gap left over since 24th Oct, 2008 at 837-853.800 mark support remained good.

FCPO Daily: recover from 3-year low

FCPO recovered and rebounded from 3-year low of 1331. Market looks may want to have a short term technical rebound following it has been oversold. We now look for the support and resistance at 1331 and 1542-1556 level respectively.

Trader's Comment: CPO futures recovered from fresh year low to end generally higher

CPO futures recovered from fresh year low to end generally higher on the back of sharp rebound in Asian stock market. Benchmark Jan09 open RM40 higher at 1430, after overnight CBOT soy complex rebounded from a technically oversold territory with a strong cash soy market. Nevertheless, crude oil trading in Asian time did not follow the rebound, while investors were still worried that crude oil prices may break below $60. CPO prices then fall and hit fresh year low at 1331, which is also the 3-year low. After lunch break, regional equity market encounter a strong recovery and this help improve the sentiment of local commodity market. Benchmark Jan09 open higher during afternoon session, and prices rally higher to settle at day high of 1459,up RM 69. Strong gains in e-CBOT also helped to lift the market sentiment. Rival soy oil up about 150 pts while soy bean higher by 50ct. Daily volume remain steady, with total 17,189 contracts changed hands.

Breaking News-RTRS-China purchases of soy leads crushers to buy imports

BEIJING, Oct 28 (Reuters) - China has begun purchasing domestic soybeans for state reserves in an effort to boost local prices and farmers' incomes, but traders said that has led crushers to seek out cheaper imports.
Chinese buyers have booked 1 to 1.5 million tonnes of U.S soybeans over the past week, almost four times the week before last, traders estimated on Tuesday.
"The import growth was because of expensive domestic soybeans," said one industry analyst.

Breaking News-RTRS-UPDATE 1-Malaysia rates left unchanged, c.bank ready to act

KUALA LUMPUR, Oct 24 (Reuters) - Malaysia's central bank left its key interest rate unchanged on Friday, as expected, but signalled it was ready to ease policy to shore up its trade-reliant economy as the global outlook deteriorates.
Bank Negara Malaysia kept its overnight policy rate unchanged at 3.50 percent , the same level it has been at since April 2006.

Breaking News-RTRS-Asian palm to languish in the next 6 mths -analyst

KUALA LUMPUR, Oct 27 (Reuters) - Malaysian palm futures are unlikely to recover in the next six months, despite a strong chance the government will launch biofuel mandates and other steps this week to soak up record stockpiles, an analyst said on Monday.
Palm oil, down nearly 70 percent from a record of 4,486 ringgit in March, will struggle with rising output from top producers Indonesia and Malaysia amid a global financial crisis that is sucking funds away from commodities, Standard Chartered softs analyst Abah Ofon said.

Breaking News-RTRS-Slumping prices slow Pakistani palm oil imports

ISLAMABAD, Oct 24 (Reuters) - Slumping global palm oil prices and weaker domestic economic growth have led to a slowdown in Pakistani purchases even though needs for November-December have yet to covered, a prominent trader said.
"Pakistan is slowly buying but it's not taking big positions because of dipping prices," Rasheed Janmohammad, deputy chairman of the Pakistan Edible Oil Refiners Association, told Reuters on Friday.

Breaking News-RTRS-Palm oil's discount could spur demand in Europe

AMSTERDAM, Oct 24 (Reuters) - Palm oil's discount to other vegetable oils could attract buyers in Europe but high stock levels, a strong dollar and general financial turmoil are likely to keep prices under pressure, market experts said.
"The only bullish aspect of palm oil at the moment is its continued discount to other oils. When the spread becomes more than $200 a tonne it's bullish for palm as people then turn to the cheapest product," a European vegetable oils trader said.

Breaking News-RTRS-Soy, palm oil may go from German biofuel blend

HAMBURG, Oct 24 (Reuters) - Soyoil and palm oil may be completely removed from biofuel blending with fossil fuels under new German government proposals, Germany's vegetable oil mills industry association said on Friday.
On Wednesday, the German government cabinet approved a draft law on biofuel blend levels in fossil fuels for 2009 which included halting use of biofuels produced from palm and soyoil in the country's blending quota unless they have certificates showing they have been produced using sustainable agriculture.

Trader's Highlight

DJI-NEW YORK, Oct 27 (Reuters) - U.S. stocks closed at their lowest levels in 5-1/2 years on Monday, extending a global sell-off as worry about the severity of a global recession and the bleak outlook for profits gripped investors.

Trading was volatile and volume was light, with stocks falling sharply in the last half hour of trading. With just four days left in October, the S&P 500 is on track for its worst month ever in the post-World War Two period.

Hedge funds and mutual funds have been dumping stocks to raise cash to meet redemptions from their clients, traders noted, exacerbating the late-day selling.

The Dow Jones industrial average <.DJI> slid 203.18 points, or 2.42 percent, to 8,175.77, its lowest close since April 2003. The Standard & Poor's 500 Index <.SPX> dropped 27.85 points, or 3.18 percent, to 848.92, its lowest close
since March 2003.

The Nasdaq Composite Index <.IXIC> was down 46.13 points, or 2.97 percent, at 1,505.90, its lowest close since May 2003.

NYMEX-NEW YORK, Oct 27 (Reuters) - U.S. crude futures settled lower on Monday as trading seesawed with the volatile U.S. stock market, with recession concerns continuing to fuel worry about falling oil demand.

Crude oil was pressured on Monday despite Friday's OPEC agreement to cut production by 1.5 million barrels per day.

On the New York Mercantile Exchange, December crude fell 93 cents, or 1.45 percent, to settle at $63.22 a barrel -- lowest settlement since May 29, 2007 -- trading from $61.30 to $65.77.

CBOT-SOYBEANS - November up 29-1/4 cents at $8.93 per bushel; January up 30-1/2 at $8.97-1/2.

Higher on tight cash markets and technical rebound after spot month fell to a near 14-month low last week. Additional support stemming from stock market recovery.

CBOT-SOYOIL - December up 0.25 at 31.72 cents per lb. Following soybeans higher and as crude oil came off lows.

REGIONAL EQUITIES-SINGAPORE, Oct 24 (Reuters) - Southeast Asian stocks tumbled to new multi-year lows hit by profit warnings and poor earnings outlooks, with banks and other blue chips such as Singapore's United Overseas Bank and Thailand's PTT falling sharply.

Malaysia's second-largest palm oil planter IOI Corp fell nearly 19 percent after sources said the company allegedly asked key personnel to resign following foreign exhange losses.

Singapore stocks <.FTSTI> plunged 8.3 percent on Friday, breaking below the pyschological 1,600 level to hit a 5-year low.

Thai stocks <.SETI> returned from a market holiday on Thursday to close 7 percent down, hitting a 5-year low, while Indonesian shares <.JKSE> lost 6.9 percent to mark its lowest since March 2006.

Malaysia <.KLSE>, the region's outperformer so far this year, also dropped 3.6 percent to a 4-year low. The Philippine index <.PSI> eased 2.1 percent to its lowest in 3 years, while Vietnam <.VNI> dived 4.3 percent to erase gains in the past 30 months.

DJI Weely: eyeing 7882

DJI extended its sharp losses. Looks may heading to test the recent low at 7882 mark. For upside, resistance is at 9284.

FKLI Weekly: Where is the bottom?

Market tumbled all the way without taking any break. We currently look for the support at 795-800 mark. for upside, resistance is at 930-935.

KLSE Weekly: looking to survive at 790-800 mark

Market remained under pressure with another long black candle printed. As for now, we pegged the support at 790-800 mark. For upside, resistance is at 925-930.

FCPO Weekly: 1252-1233 manage to defend?

FCPO falling sharply non-stop and violated the support at 1400-1380 level completely. We currently looking for the next support at 1252 (low since 2nd Sept, 2005) followed by 1233 (low since 8th Nov, 2003). For upside, resistance remained at 1902-1934 (gap left over since 5th Oct, 2008).

Trader's Comment: CPO futures crasehd to end at the new 2-years low again

CPO futures crashed by 10.3% to end at the new 2-year low again, amid fear of high stock level and also regional stock market meltdown spill over to local commodities market. Benchmark Jan09 open at 1520 and hit intra day high of 1556 after covering yesterday’s gap. Then it just gives up its gain and tumbled all the way down for the rest of the day. Crude oil surrendered its earlier gain and fell more than $4 during Asian time trading. Furthermore, Reuters poll had stated that Malaysia’s October palm oil stock are expected to climb to a record level of 2.04 million tones as output rises amid slowdown in export. This has worsened the already weak market sentiment. As traders worry of that build-up in stock supplies, CPO prices were slammed down by its daily 10% trading limit and extend its limit to 15%. Benchmark Jan09 settled at 1390, down by RM160, after it hit the intra day low of 1358.

Breaking News-RTRS--POLL-Malaysia's Oct palm stocks may scale new record

KUALA LUMPUR, Oct 24 - Malaysia's October palm oil
stocks are expected to climb 4.6 percent to a record level of
2.04 million tonnes as output still rose despite the holiday
season amid a marked slowdown in shipments, a Reuters poll showed
on Friday.
Palm oil production in Malaysia, the world's second-largest
supplier, will probably edge up 0.7 percent to 1.59 million
tonnes in October, according to a median estimate of five
plantation houses.
Although the rate of production has somewhat slowed compared
to previous months, perhaps heralding the end of the high
production cycle as some respondents say, exports still lagged
behind, sliding 7.2 percent in October to 1.2 million tonnes.

Breaking News-RTRS-MALAYSIAN PALM OIL HITS 10 PCT LIMIT DOWN ON FALLING CRUDE OIL, HIGH STOCK FEARS

KUALA LUMPUR, Oct 24 - Malaysian crude palm oil futures slumped by its daily 10 percent trading limit on Friday as crude oil posted heavy losses amid fears of a build-up in supplies, traders said.
The benchmark January 2009 contract on the Bursa Malaysia Derivatives Exchange fell 155 ringgit to 1,395 ringgit ($389.9) per tonne.

Breaking News-RTRS-US regulators examining market close stock surges

WASHINGTON/NEW YORK, Oct 23 (Reuters) - U.S. regulators are taking a closer look at unprecedented volatility in stock markets near the close of trading, hunting for any signs of manipulation.
"It is something we're looking at," said Brendan Intindola, a spokesman for the Financial Industry Regulatory Authority. "We're really taking an extra close look at it in the light of the volatility we've seen in the market in recent weeks."
FINRA typically looks at "market on close" activity, which are orders executed as near to the end of the exchange day as possible.

Trader's Highlight

DJI-NEW YORK, Oct 23 (Reuters) - U.S. stocks clawed back from five-year lows on Thursday, led by a bounce in energy and health-care stocks after oil recovered from a 16-month trough and top pharmaceutical companies posted reassuring earnings.

The Dow Jones industrial average <.DJI> rose 172.04 points, or 2.02 percent, to 8,691.25, while the Standard & Poor's 500 Index <.SPX> gained 11.33 points, or 1.26 percent, to 908.11. The Nasdaq Composite Index <.IXIC>, however, was down 11.84 points, or 0.73 percent, at 1,603.91.

NYMEX-NEW YORK, Oct 23 (Reuters) - U.S. crude futures rose on Thursday, bouncing ahead of Friday's OPEC meeting expected to result in a production cut.

On the New York Mercantile Exchange, December crude rose $1.09, or 1.63 percent, to settle at $67.84 a barrel, trading from $65.90 to $69.41.

CBOT-SOYBEANS - November up 25-1/2 cents at $8.84-1/2 a bushel; January up 23-3/4 at $8.88-1/2.

U.S. Census Bureau reported September soy crush at 125.7 million bushels, versus estimates for 127.0-127.4 million.

CBOT-SOYOIL - December up 0.48 cent at 32.82 cents per lb.

Higher on spillover from soybeans, crude oil. Trading limit expanded to 3.5 cents for Thursday's session..

Census preliminary U.S. September soyoil stocks figure was 2.528 billion lbs, versus estimates for 2.378-2.435 billion.

FCPO-KUALA LUMPUR, Oct 23 (Reuters) - Vegetable oil markets in Asia recouped some of Thursday's losses as investors tiptoed back on expectations OPEC would cut supplies of crude oil and boost commodities across the board.

Malaysian crude palm oil futures ended 1 percent lower after tumbling much as 5.8 percent, Dalian soyoil bounced away from its 5 percent limit down and Chicago soybean oil rose 0.5 percent.

REGIONAL EQUITIES-SINGAPORE, Oct 23 (Reuters) - Southeast Asian equities took
another beating on Thursday on earnings worries, while uneasiness over persistent credit tightness hit banks such as DBS Group and PT Bank Rakyat Indonesia .

Indonesian shares <.JKSE> slid 3.1 percent to mark a fresh 2-year low, the Philippine index <.PSI> dropped 4.6 percent, while Vietnam <.VNI> gave up 3.9 percent.

Thai stocks <.SETI> lost 2.8 percent, while Malaysia <.KLSE> eased 1.4 percent, maintaining its outperformance in the region. Banks were among the main losers in the region.

Singapore's top lender by assets DBS Group fell 5.3 percent to mark a new 5-year low. The bank said on Wednesday it will compensate as much as $53.4 million to some investors who bought structured products linked to collapsed bank Lehman
Brothers.

Malaysia's Maybank , which said it has identified Lehman-linked investors, also fell 2.8 percent. Rival Bumiputra Commerce slid 3.6 percent, even
after the country's Association of Banks said in a statement its banks remain well-capitalised and lending activities have not been affected.

Among other losers, Thai's Siam Commercial Bank dropped 4.2 percent, while Indonesia's PT Bank Rakyat Indonesia Tbk plunged 7.1 percent.