Wednesday, February 16, 2011
Breaking News-RTRS - Malaysia Feb palm oil output to stay low-Oil World
HAMBURG, Feb 15 (Reuters) - February palm oil output in key producer Malaysia is likely to remain low following a sharp fall in January production, helping transfer global demand to soyoil, Hamburg-based oilseeds analysts Oil World said on Tuesday.
Trader's Highlight
DJI-NEW YORK, Feb 15 (Reuters) - Market breadth weakened and a prominent investor retreated from bullish positions as a vulnerable U.S. stock market slipped off 2-1/2-year highs on Tuesday.
Energy and basic materials stocks led the slide in the S&P 500's worst day since Jan. 28, and billionaire investor Ken Fisher told Reuters he is "more neutral on stocks than I've been in years."
The Dow Jones industrial average <.DJI> lost 41.55 points, or 0.34 percent, at 12,226.64. The Standard & Poor's 500 Index <.SPX> fell 4.31 points, or 0.32 percent, at 1,328.01. The Nasdaq Composite Index <.IXIC> slipped 12.83 points, or 0.46 percent, at 2,804.35.
NYMEX-NEW YORK, Feb 15 (Reuters) - U.S. crude oil futures ended lower for a third session on Tuesday, tracking equities, which fell as a smaller-than-expected rise in retail sales last month raised worries about the strength of the economic recovery.
The dollar rebounded from its early lows, keeping crude down. That overshadowed earlier news showing that inflation was lower than expected in China, and continuing worries about spreading unrest in the Middle East.
On the New York Mercantile Exchange, March crude settled down 49 cents, or 0.58 percent, at $84.32 a barrel, the lowest close since Nov. 30, 2010, when front-month crude closed at $84.11. It traded from $83.85 to $85.97.
CBOT-CHICAGO, Feb 15 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.
CBOT-SOYBEANS - March down 34-3/4 cents at $13.68 per bushel. New-crop November down 32-3/4 at $13.32-3/4. A seasonal shift of export business to South America, news of a cancellation of an export sale of U.S. soy, fund long-liquidation and spillover pressure from the release by USDA on Monday of a larger U.S. soy acreage this year than expected combine to weigh on soybean futures.
CBOT-SOYOIL - March down 1.15 cent at 56.54 cents per lb. Spillover pressure from decline in soy.
FCPO-JAKARTA, Feb 14 (Reuters) - Malaysian palm oil futures dropped as much as 1 percent on Monday, with trading range-bound as investors booked profits ahead of eagerly anticipated export data due later this week.
The benchmark April 2011 crude palm oil contract on Bursa Malaysia Derivatives fell 0.6 percent to 3,933 Malaysian ringgit ($1,288) a tonne. Overall, traded volume stood at 11,265 lots of 25 tonnes each, compared with a total of 11,568lots on Friday.
REGIONAL EQUITIES-BANGKOK, Feb 15 (Reuters) - Most Southeast Asian stock markets pulled back on Tuesday as China's closely watched inflation data failed to allay concerns over price pressures in emerging markets, but loan growth optimism lifted banks.
Inflation concerns plagued regional sentiment and kept investors cautious over the outlook of corporate profits. Turnover of Thai stocks <.SETI> fell to 0.86 times their 30-day average, similar to Vietnam's <.VNI> 0.85 times.
Singapore's Straits Times Index <.FTSTI> dropped 0.8 percent, in relatively active volume of 1.36 times its 30-day average. Philippines <.PSI> eased 0.2 percent.
Indonesia and Malaysia were shut for a market holiday and trading will resume on Wednesday. Asian stocks were broadly steady on Tuesday after traders took China's inflation data in stride.
Palm oil shares were among weak spots, with Malaysian palm oil futures dropping as much as 1 percent on Monday, with Singapore-listed Noble Group sliding 2.8 percent and Bangkok-listed Sri Trang Agro down 4.2 percent.
Energy and basic materials stocks led the slide in the S&P 500's worst day since Jan. 28, and billionaire investor Ken Fisher told Reuters he is "more neutral on stocks than I've been in years."
The Dow Jones industrial average <.DJI> lost 41.55 points, or 0.34 percent, at 12,226.64. The Standard & Poor's 500 Index <.SPX> fell 4.31 points, or 0.32 percent, at 1,328.01. The Nasdaq Composite Index <.IXIC> slipped 12.83 points, or 0.46 percent, at 2,804.35.
NYMEX-NEW YORK, Feb 15 (Reuters) - U.S. crude oil futures ended lower for a third session on Tuesday, tracking equities, which fell as a smaller-than-expected rise in retail sales last month raised worries about the strength of the economic recovery.
The dollar rebounded from its early lows, keeping crude down. That overshadowed earlier news showing that inflation was lower than expected in China, and continuing worries about spreading unrest in the Middle East.
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO, Feb 15 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-JAKARTA, Feb 14 (Reuters) - Malaysian palm oil futures dropped as much as 1 percent on Monday, with trading range-bound as investors booked profits ahead of eagerly anticipated export data due later this week.
The benchmark April 2011 crude palm oil contract
REGIONAL EQUITIES-BANGKOK, Feb 15 (Reuters) - Most Southeast Asian stock markets pulled back on Tuesday as China's closely watched inflation data failed to allay concerns over price pressures in emerging markets, but loan growth optimism lifted banks.
Inflation concerns plagued regional sentiment and kept investors cautious over the outlook of corporate profits. Turnover of Thai stocks <.SETI> fell to 0.86 times their 30-day average, similar to Vietnam's <.VNI> 0.85 times.
Singapore's Straits Times Index <.FTSTI> dropped 0.8 percent, in relatively active volume of 1.36 times its 30-day average. Philippines <.PSI> eased 0.2 percent.
Indonesia and Malaysia were shut for a market holiday and trading will resume on Wednesday. Asian stocks were broadly steady on Tuesday after traders took China's inflation data in stride.
Palm oil shares were among weak spots, with Malaysian palm oil futures dropping as much as 1 percent on Monday, with Singapore-listed Noble Group
Monday, February 14, 2011
Breaking News-RTRS - Asia oils-China restocks with palm oil after Lunar Year holidays
KUALA LUMPUR, Feb 11 (Reuters) - China, the world's No.2 vegetable oil buyer, is seeking nearby palm oil shipments to replenish stocks after the Lunar New Year holiday although the pace of orders will be slower due to the recent price rally.
China's domestic refined palm olein used in cooking oil is selling at around 10,300 yuan ($1,563)a tonne with import prices for the spot month standing at a much higher 10,800 yuan, potentially limiting the size of purchases, traders said.
Benchmark Malaysia palm oil futures have hit successive three-year highs on strong export demand, particularly from China and concerns of a further stock draw.
China's domestic refined palm olein used in cooking oil is selling at around 10,300 yuan ($1,563)a tonne with import prices for the spot month standing at a much higher 10,800 yuan, potentially limiting the size of purchases, traders said.
Benchmark Malaysia palm oil futures
Trader's Highlight
DJI-NEW YORK, Feb 11 (Reuters) - U.S. stocks closed out their second straight week of gains on Friday with a rally sparked after Egyptian President Hosni Mubarak resigned, easing tension around the region for now.
The S&P's five-month surge, which has taken it up almost 27 percent, has confounded those calling for a correction, but weak volume recently has been undercutting the unfailingly bullish direction in equities. Only 7.7 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, below last year's daily average of 8.47 billion.
The Dow Jones industrial average <.DJI> was up 43.97 points, or 0.36 percent, at 12,273.26. The Standard & Poor's 500 Index <.SPX> was up 7.28 points, or 0.55 percent, at 1,329.15. The Nasdaq Composite Index <.IXIC> was up 18.99 points, or 0.68percent, at 2,809.44.
NYMEX-NEW YORK, Feb 11 (Reuters) - U.S. crude oil futures ended at their lowest level in 10 weeks on Friday after Egypt's President Hosni Mubarak's resignation eased worries about potential disruption of oil supplies along the Suez Canal and a strategic pipeline.
The dollar rose against the euro, after a brief dip on the news, helping pressure oil prices.
On the New York Mercantile Exchange, March crude settled at $85.58, down $1.15, or 1.33 percent, the lowest close for a front-month contract since Nov. 30's settlement at $84.11. It traded from from $85.10 to $87.77.
CBOT-CHICAGO, Feb 11 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.
CBOT-SOYBEANS - March down 17 cents at $14.16 per bushel. Pressure from a seasonal shift in export business to South America and a firm U.S. dollar, traders said.
CBOT-SOYOIL - March down 0.55 cent at 58.49 cents per lb. Weighed down by falling soybeans.
FCPO-KUALA LUMPUR, Feb 11 (Reuters) - Malaysian palm oil futures rose 0.7 percent on Friday on concerns that earlier floods and rains could further weaken yields at a time of strong demand despite prices logging their weakest weekly gain in two weeks.
Traders expect continued tightening in vegetable oil supplies on strong export demand from China and a possible shift in U.S. farming acreage this year to more lucrative corn from soybeans, an oilseed crushed into competing soyoil.
The benchmark April crude palm oil contract on the Bursa Malaysia Derivatives Exchange rose 29 ringgit to 3,955 ringgit ($1,299). The previous day, the market hit 3,967 ringgit, a level not reached since March 2008.
Overall volumes more than doubled to 22,982 lots at 25 tonnes each, compared to the usual 15,000 lots.
REGIONAL EQUITIES-BANGKOK, Feb 11 (Reuters) - Most Southeast Asian stock markets fell on Friday, with Singapore and Malaysia posting their biggest weekly loss in almost nine months, as growing tension in Egypt eroded appetite for risk among emerging market investors.
Foreign funds fled the region just as domestic investors in most markets stayed on the sidelines. The Indonesian <.JKSE> and Thai <.SETI> markets saw subdued trading, with volumes falling to about 0.8 times their 30-day average.
Malaysia, along with Thailand and the Philippines, recorded outflows on the day and the week, amid persistent concern over inflation and as central banks in Asia moved to tighten monetary policy, including interest rate rises by China and Indonesia.
Strong capital inflows into emerging markets last year has lost steam and the region has seen outflows since January.
Dealers expect inflation fears to ease later this year as a result of policy tightening while a recovery in the U.S. economy should shore up global oil prices, luring investors to the resource- and commodity-driven region again.
Singapore's Straits Times Index <.FTSTI> ended down 0.8 percent, with a 4.2 percent loss for the week, the biggest weekly loss since May. Malaysia <.KLSE> eased 0.6 percent on the day. Singapore-listed DBS Group, Southeast Asia's biggest lender, inched down 0.1 percent, as weak sentiment outweighed its better-than-expected quarterly earnings, traders said.
The S&P's five-month surge, which has taken it up almost 27 percent, has confounded those calling for a correction, but weak volume recently has been undercutting the unfailingly bullish direction in equities. Only 7.7 billion shares traded on the New York Stock Exchange, the American Stock Exchange and Nasdaq, below last year's daily average of 8.47 billion.
The Dow Jones industrial average <.DJI> was up 43.97 points, or 0.36 percent, at 12,273.26. The Standard & Poor's 500 Index <.SPX> was up 7.28 points, or 0.55 percent, at 1,329.15. The Nasdaq Composite Index <.IXIC> was up 18.99 points, or 0.68percent, at 2,809.44.
NYMEX-NEW YORK, Feb 11 (Reuters) - U.S. crude oil futures ended at their lowest level in 10 weeks on Friday after Egypt's President Hosni Mubarak's resignation eased worries about potential disruption of oil supplies along the Suez Canal and a strategic pipeline.
The dollar rose against the euro, after a brief dip on the news, helping pressure oil prices.
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO, Feb 11 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Feb 11 (Reuters) - Malaysian palm oil futures rose 0.7 percent on Friday on concerns that earlier floods and rains could further weaken yields at a time of strong demand despite prices logging their weakest weekly gain in two weeks.
Traders expect continued tightening in vegetable oil supplies on strong export demand from China and a possible shift in U.S. farming acreage this year to more lucrative corn from soybeans, an oilseed crushed into competing soyoil.
The benchmark April crude palm oil contract
Overall volumes more than doubled to 22,982 lots at 25 tonnes each, compared to the usual 15,000 lots.
REGIONAL EQUITIES-BANGKOK, Feb 11 (Reuters) - Most Southeast Asian stock markets fell on Friday, with Singapore and Malaysia posting their biggest weekly loss in almost nine months, as growing tension in Egypt eroded appetite for risk among emerging market investors.
Foreign funds fled the region just as domestic investors in most markets stayed on the sidelines. The Indonesian <.JKSE> and Thai <.SETI> markets saw subdued trading, with volumes falling to about 0.8 times their 30-day average.
Malaysia, along with Thailand and the Philippines, recorded outflows on the day and the week, amid persistent concern over inflation and as central banks in Asia moved to tighten monetary policy, including interest rate rises by China and Indonesia.
Strong capital inflows into emerging markets last year has lost steam and the region has seen outflows since January.
Dealers expect inflation fears to ease later this year as a result of policy tightening while a recovery in the U.S. economy should shore up global oil prices
Singapore's Straits Times Index <.FTSTI> ended down 0.8 percent, with a 4.2 percent loss for the week, the biggest weekly loss since May. Malaysia <.KLSE> eased 0.6 percent on the day. Singapore-listed DBS Group
Friday, February 11, 2011
Trader's Highlight
DJI-NEW YORK, Feb 10 (Reuters) - U.S. stocks were lower on Thursday and the Dow was on track to snap an eight-day rally, but hopes for a possible resolution in Egypt to the political unrest that has gripped the country for more than two weeks helped equities pare earlier losses.
Stocks started the session lower after tech bellwether Cisco Systems Inc gave a weak outlook and reported eroding margins, stoking fears about falling public sector spending and increasing competition.
The Dow Jones industrial average <.DJI> was down 39.40 points, or 0.32 percent, at 12,200.49. The Standard & Poor's 500 Index <.SPX> was down 2.81 points, or 0.21 percent, at 1,318.07. The Nasdaq Composite Index <.IXIC> was down 7.76 points, or 0.28 percent, at 2,781.31.
NYMEX-NEW YORK, Feb 10 (Reuters) - U.S. crude futures retraced higher in post-settlement trading on Thursday after Egypt's President Hosni Mubarak said he would transfer the reins of power to his vice president, but not step down.
The speech sparked more worries that Egypt's unrest would spread across the Middle East and disrupt oil supply movement.
On the New York Mercantile Exchange, March crude settled at $86.73, up 2 cents, trading from $85.96 to $87.90.
CBOT-CHICAGO , Feb 10 (Reuters) - Chicago Board of Trade grain and soy complex close on Thursday.
CBOT-SOYBEANS - March down 18 cents at $14.33 per bushel. Profit-taking, a firm dollar, fund selling, corn/soy spreading weigh on soy in addition to pressure from a low number for old-crop soy in the USDA's export sales report.
CBOT-SOYOIL - March down 0.70 cent at 59.04 cents per
lb. Following soybeans with weak crude oil and a downturn in palm also weighing.
FCPO-KUALA LUMPUR, Feb 10 (Reuters) - Malaysian palm oil futures ended off three-year highs hit earlier on Thursday as traders booked some profits after a slew of industry data showed tight vegetable oil supplies at a time when demand has picked up.
Industry regulator Malaysian Palm Oil Board said January palm oil stocks fell to a six-month low, as floods and heavy rains curbed output.
The report comes hot on the heels of U.S. Department of Agriculture (USDA) data showing tighter soyoil stocks and a lower forecast for Argentina's soy crop that earlier suffered a dry spell.
The benchmark April crude palm oil contract on the Bursa Malaysia Derivatives Exchange rose as much as 0.9 percent to 3,967 ringgit ($1,306), a level not reached since March 2008.
The contract later settled 0.1 percent lower at 3,926 ringgit a tonne. Overall volumes more than doubled to 35,028 lots at 25 tonnes each, compared to the usual 15,000 lots. Credit Suisse said in a note that foreign participation in palm oil futures are at record high and the market could be vulnerable to profit-taking.
REGIONAL EQUITIES-BANGKOK, Feb 10 (Reuters) - Southeast Asian stock markets fell on Thursday amid rising inflationary pressures that triggered more foreign outflows and dealt a big blow to market heavyweights, including banks.
Market investors were cautious about a possible cool down in regional growth in response to the tightening of monetary policies in Asian countries after interest rate increases by China early this week and Indonesia last week.
Sharemarkets tumbled across the region in line with broad Asian stocks, which suffered a second session of sharp losses on Thursday after the U.S. central bank chief signalled the recovery in the world's biggest economy was still fragile.
Flows to Southeast Asia were mixed on Thursday. Malaysia suffered $242 million outflows, followed by Thailand's $91 million outflows, exchange data showed.
Turnover in Singapore and Malaysia was 1.5 times their 30-day average. Thai turnover was relatively weak at 0.75 times the 30-day average, similar to Vietnam's 0.73 times.
Southeast Asia's biggest developer CapitaLand, which is listed in Singapore, was down 2.6 percent, extending its losses on Wednesday after China's tightening stoked concern over moderating Asian demand that could hurt Southeast Asian companies exposed to China.
Stocks started the session lower after tech bellwether Cisco Systems Inc
The Dow Jones industrial average <.DJI> was down 39.40 points, or 0.32 percent, at 12,200.49. The Standard & Poor's 500 Index <.SPX> was down 2.81 points, or 0.21 percent, at 1,318.07. The Nasdaq Composite Index <.IXIC> was down 7.76 points, or 0.28 percent, at 2,781.31.
NYMEX-NEW YORK, Feb 10 (Reuters) - U.S. crude futures retraced higher in post-settlement trading on Thursday after Egypt's President Hosni Mubarak said he would transfer the reins of power to his vice president, but not step down.
The speech sparked more worries that Egypt's unrest would spread across the Middle East and disrupt oil supply movement.
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO , Feb 10 (Reuters) - Chicago Board of Trade grain and soy complex close on Thursday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
lb. Following soybeans with weak crude oil and a downturn in palm also weighing.
FCPO-KUALA LUMPUR, Feb 10 (Reuters) - Malaysian palm oil futures ended off three-year highs hit earlier on Thursday as traders booked some profits after a slew of industry data showed tight vegetable oil supplies at a time when demand has picked up.
Industry regulator Malaysian Palm Oil Board said January palm oil stocks fell to a six-month low, as floods and heavy rains curbed output.
The report comes hot on the heels of U.S. Department of Agriculture (USDA) data showing tighter soyoil stocks and a lower forecast for Argentina's soy crop that earlier suffered a dry spell.
The benchmark April crude palm oil contract
The contract later settled 0.1 percent lower at 3,926 ringgit a tonne. Overall volumes more than doubled to 35,028 lots at 25 tonnes each, compared to the usual 15,000 lots. Credit Suisse said in a note that foreign participation in palm oil futures are at record high and the market could be vulnerable to profit-taking.
REGIONAL EQUITIES-BANGKOK, Feb 10 (Reuters) - Southeast Asian stock markets fell on Thursday amid rising inflationary pressures that triggered more foreign outflows and dealt a big blow to market heavyweights, including banks.
Market investors were cautious about a possible cool down in regional growth in response to the tightening of monetary policies in Asian countries after interest rate increases by China early this week and Indonesia last week.
Sharemarkets tumbled across the region in line with broad Asian stocks, which suffered a second session of sharp losses on Thursday after the U.S. central bank chief signalled the recovery in the world's biggest economy was still fragile.
Flows to Southeast Asia were mixed on Thursday. Malaysia suffered $242 million outflows, followed by Thailand's $91 million outflows, exchange data showed.
Turnover in Singapore and Malaysia was 1.5 times their 30-day average. Thai turnover was relatively weak at 0.75 times the 30-day average, similar to Vietnam's 0.73 times.
Southeast Asia's biggest developer CapitaLand
Thursday, February 10, 2011
Trader's Highlight
DJI-NEW YORK, Feb 9 (Reuters) - Investors took profits after a recent rise in U.S. stocks on Wednesday but a late-hour rally in Bank of America shares helped the Dow squeeze out its eighth straight day of gains.
Market participants remain confident that solid corporate earnings will inspire further advances, but a recent string of lightly traded sessions raises worries that buying interest at current levels has dried up.
The Dow Jones industrial average <.DJI> was up 6.74 points, or 0.06 percent, at 12,239.89. The Standard & Poor's 500 Index <.SPX> was down 3.69 points, or 0.28 percent, at 1,320.88. The Nasdaq Composite Index <.IXIC> was down 7.98 points, or 0.29 percent, at 2,789.07.
NYMEX-NEW YORK, Feb 9 (Reuters) - U.S. crude futures ended slightly lower on Wednesday after a volatile session on pressure from the government's oil inventory report showing crude and product stockpiles rose last week.
While the Energy Information Administration data curbed U.S. crude, ongoing concerns about unrest in Egypt and a weaker dollar helped Brent rise intraday above $102 a barrel.
Brent's premium to its U.S. counterpart pushed to a record high above $15a barrel.
On the New York Mercantile Exchange, March crude fell 23 cents, or 0.26 percent, to settle at $86.71 a barrel, having traded from $86.36 to $87.95.
CBOT-CHICAGO, Feb 9 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.
CBOT-SOYBEANS - March up 16-3/4 cents at $14.51 per bushel. Spillover support from big rally in corn futures following the release of USDA's February supply/demand and crop production reports.
CBOT-SOYOIL - March up 0.97 cent at 59.74 cents per lb. Following soybeans.
FCPO-KUALA LUMPUR, Feb 9 (Reuters) - Malaysian palm oil futures jumped to a fresh three-year high on Wednesday as traders bet on further tightening of supplies and strong economic growth underscored by China's surprise rate move.
On Tuesday, China, the world's No.2 vegetable oil buyer, raised interest rates for the second time in just over six weeks, renewing its battle with stubbornly high inflation.
The benchmark April crude palm oil contract on the Bursa Malaysia Derivatives Exchange rose half a percent. Earlier in the day the contract hit a three-year high of 3,948 ringgit ($1,301)a tonne. Overall volumes shot up to 28,604 lots at 25 tonnes each, compared to the usual 15,000 lots
REGIONAL EQUITIES-BANGKOK, Feb 9 (Reuters) - Southeast Asian stock markets fell on Wednesday as China's rate hike prompted selling in emerging equities, a sector already plagued by growing inflationary pressure and rising interest rate environment.
China's tightening stoked concern over moderating Asian demand that could hurt Southeast Asian companies exposed to China, squeeze exports and dent corporate earnings.
Beaten-down stocks included Southeast Asia's biggest developer CapitaLand, which touched its lowest in almost nine months, and palm oil shares which saw selling across the region on fears of weakening demand in China.
Singapore's Straits Times Index <.FTSTI> lost 1 percent on the day, setting a year-low. Indonesia's main index <.JKSE> fell over 2 percent at one point to its lowest in more than one week. Philippine <.PSI> and Thai stocks <.SETI> hit one-week low.
Volumes were relatively brisk in Singapore, with turnover of 1.5 times its 30-day average, followed by Malaysia's <.KLSE> 1.1 times. Turnover of Indonesia and Thailand both fell to 0.8 times their 30-day average.
As in broader Asia, inflation remains a major risk for Southeast Asia this year, with food and fuel prices continuing to rise, prompting market investors to expect more rate hikes by policymakers in the region this year.
Palm oil shares were weak spots in the region. Wilmar International, the world's largest listed palm oil firm, lost 1.6 percent, Malaysia's IOI Corp eased 0.5 percent and Indonesia's PT Astra Agro Lestari fell 2.5 percent.
Market participants remain confident that solid corporate earnings will inspire further advances, but a recent string of lightly traded sessions raises worries that buying interest at current levels has dried up.
The Dow Jones industrial average <.DJI> was up 6.74 points, or 0.06 percent, at 12,239.89. The Standard & Poor's 500 Index <.SPX> was down 3.69 points, or 0.28 percent, at 1,320.88. The Nasdaq Composite Index <.IXIC> was down 7.98 points, or 0.29 percent, at 2,789.07.
NYMEX-NEW YORK, Feb 9 (Reuters) - U.S. crude futures ended slightly lower on Wednesday after a volatile session on pressure from the government's oil inventory report showing crude and product stockpiles rose last week.
While the Energy Information Administration data curbed U.S. crude, ongoing concerns about unrest in Egypt and a weaker dollar helped Brent rise intraday above $102 a barrel.
Brent's premium to its U.S. counterpart
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO, Feb 9 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Feb 9 (Reuters) - Malaysian palm oil futures jumped to a fresh three-year high on Wednesday as traders bet on further tightening of supplies and strong economic growth underscored by China's surprise rate move.
On Tuesday, China, the world's No.2 vegetable oil buyer, raised interest rates for the second time in just over six weeks, renewing its battle with stubbornly high inflation.
The benchmark April crude palm oil contract
REGIONAL EQUITIES-BANGKOK, Feb 9 (Reuters) - Southeast Asian stock markets fell on Wednesday as China's rate hike prompted selling in emerging equities, a sector already plagued by growing inflationary pressure and rising interest rate environment.
China's tightening stoked concern over moderating Asian demand that could hurt Southeast Asian companies exposed to China, squeeze exports and dent corporate earnings.
Beaten-down stocks included Southeast Asia's biggest developer CapitaLand
Singapore's Straits Times Index <.FTSTI> lost 1 percent on the day, setting a year-low. Indonesia's main index <.JKSE> fell over 2 percent at one point to its lowest in more than one week. Philippine <.PSI> and Thai stocks <.SETI> hit one-week low.
Volumes were relatively brisk in Singapore, with turnover of 1.5 times its 30-day average, followed by Malaysia's <.KLSE> 1.1 times. Turnover of Indonesia and Thailand both fell to 0.8 times their 30-day average.
As in broader Asia, inflation remains a major risk for Southeast Asia this year, with food and fuel prices continuing to rise, prompting market investors to expect more rate hikes by policymakers in the region this year.
Palm oil shares were weak spots in the region. Wilmar International
Wednesday, February 9, 2011
Trader's Highlight
DJI-NEW YORK, Feb 8 (Reuters) - The Dow notched a seventh straight day of gains on Tuesday, but light volume suggested that investors don't believe the more than five-month rally has the legs to keep going.
Surprisingly strong sales by McDonald's boosted optimism on consumer spending and drove the Dow's gains on what turned out to be the quietest day of trading so far in 2011, with total volume about 17 percent below last year's daily average.
The Dow Jones industrial average <.DJI> was up 71.52 points, or 0.59 percent, at 12,233.15. The Standard & Poor's 500 Index <.SPX> was up 5.52 points, or 0.42 percent, at 1,324.57. The Nasdaq Composite Index <.IXIC> was up 13.06 points, or 0.47 percent, at 2,797.05.
NYMEX-NEW YORK, Feb 8 (Reuters) - U.S. crude oil prices ended lower for a fourth day on Tuesday after news that Suez Canal operations and ship movements were unaffected by strikes of workers at companies at the zone.
But in post-settlement trading, losses were pared and intraday prices climbed back to above $87 a barrel after the American Petroleum Institute reported an unexpected drawdown in domestic crude stocks last week.
On the New York Mercantile Exchange, crude for March delivery settled down 54 cents, or 0.62 percent, at $86.94 a barrel, the lowest close since Jan. 27. It traded from $85.88 to $88.11.
CBOT-CHICAGO, Feb 8 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.
CBOT-SOYBEANS - March up 9-3/4 cents at $14.34-1/4 per bushel. November up 11-1/2 at $13.77-1/2. Late fund buying lifted soybeans as traders remained optimistic about more big sales of soy to China as U.S. soy stocks continue to shrink. A late fund buy order boosted soy through Monday's high, touching off buy-stops.
CBOT-SOYOIL - March up 0.36 cent at 58.77 cents per lb. Following soybeans.
REGIONAL EQUITIES-BANGKOK, Feb 8 (Reuters) - Most Southeast Asian stock markets fell on Tuesday as investors further cut positions in emerging equities, alarmed by growing inflationary pressures weighing on the region's large-capitalised stocks.
The exodus of funds has pulled most markets off last year's peaks with expectations of higher interest rates dampening future earnings of Southeast Asian firms.
Singapore fell 0.2 percent to near a one-week low, with turnover of 1.07 times its 30-day average. Property shares fell on concerns over cooling measures in China to rein in stubbornly high housing prices, led by 3 percent drop in Keppel Land.
Bucking the trend, Malaysia climbed to a two-week high, in relatively active turnover of 1.1 times its 30-day average, while Vietnam rose 2 percent on resuming trade after market holidays since last week.
Surprisingly strong sales by McDonald's boosted optimism on consumer spending and drove the Dow's gains on what turned out to be the quietest day of trading so far in 2011, with total volume about 17 percent below last year's daily average.
The Dow Jones industrial average <.DJI> was up 71.52 points, or 0.59 percent, at 12,233.15. The Standard & Poor's 500 Index <.SPX> was up 5.52 points, or 0.42 percent, at 1,324.57. The Nasdaq Composite Index <.IXIC> was up 13.06 points, or 0.47 percent, at 2,797.05.
NYMEX-NEW YORK, Feb 8 (Reuters) - U.S. crude oil prices ended lower for a fourth day on Tuesday after news that Suez Canal operations and ship movements were unaffected by strikes of workers at companies at the zone.
But in post-settlement trading, losses were pared and intraday prices climbed back to above $87 a barrel after the American Petroleum Institute reported an unexpected drawdown in domestic crude stocks last week.
On the New York Mercantile Exchange, crude for March delivery
CBOT-CHICAGO, Feb 8 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
REGIONAL EQUITIES-BANGKOK, Feb 8 (Reuters) - Most Southeast Asian stock markets fell on Tuesday as investors further cut positions in emerging equities, alarmed by growing inflationary pressures weighing on the region's large-capitalised stocks.
The exodus of funds has pulled most markets off last year's peaks with expectations of higher interest rates dampening future earnings of Southeast Asian firms.
Singapore fell 0.2 percent to near a one-week low, with turnover of 1.07 times its 30-day average. Property shares fell on concerns over cooling measures in China to rein in stubbornly high housing prices, led by 3 percent drop in Keppel Land
Bucking the trend, Malaysia climbed to a two-week high, in relatively active turnover of 1.1 times its 30-day average, while Vietnam rose 2 percent on resuming trade after market holidays since last week.
Tuesday, February 8, 2011
Trader's Highlight
DJI-NEW YORK, Feb 7 (Reuters) - The Dow and S&P 500 advanced to their highest levels since June 2008 on Monday as a flurry of merger news and solid earnings sparked broad gains.
Buying accelerated after the S&P 500 broke through the high end of its recent range, suggesting Wall Street has the strength to move the market higher. Almost three stocks rose for every one that fell on the New York Stock Exchange.
The Dow Jones industrial average <.DJI> was up 77.99 points, or 0.64 percent, at 12,170.14. The Standard & Poor's 500 Index <.SPX> was up 9.88 points, or 0.75 percent, at 1,320.75. The Nasdaq Composite Index <.IXIC> was up 21.26 points, or 0.77 percent, at 2,790.56.
NYMEX-NEW YORK, Feb 7 (Reuters) - U.S. crude oil futures ended lower for a third session on Monday, dropping to their lowest level in more than a week, as no supplies have gotten disrupted from the Mideast even though unrest in Egypt continued.
Transits through the Suez Canal remained unaffected, though traders were closely watching developments in Egypt, with concerns still remaining that turmoil there may spread across the Middle East, traders said.
On the New York Mercantile Exchange, March crude settled down $1.55, or 1.74 percent, at $87.48 a barrel, the lowest since the Jan. 27 close at $85.64. It traded from $87.42 to $89.54.
CBOT-CHICAGO, Feb 7 (Reuters) - Chicago Board of Trade grain and
soy complex close on Monday.
CBOT-SOYBEANS - March down 9 cents at $14.24-1/2 per
bushel. Fund long-liquidation weighs in addition to pressure form
better crop weather in Argentina.
CBOT-SOYOIL - March down 0.57 cent at 58.41 cents per lb.
REGIONAL EQUITIES-BANGKOK, Feb 7 (Reuters) - Most Southeast Asian stock markets were weaker to flat on Monday as investors cashed in on recent gains in energy-related stocks and financials, helping pull Singapore and Indonesia shares off their two-day highs.
Market volume was generally light as the improving U.S. economy sapped appetite for the emerging markets. Indonesia <.JKSE> and Thailand <.SETI> each saw its turnover around two-thirds the 30-day average.
Shares in Indonesia and Singapore <.FTSTI> failed to hold early gains, easing 0.6 percent and 0.2 percent respectively. Bargain hunters earlier entered the markets on technical-led buying, dealers said8.
Singapore-based Najeeb Jarhom, head of research at broker AmFraser Securities, said technical signals pointed to further upside for Singapore's Straits Times Index, with a 2011 fiscal budget announcement this month, partly helping to trigger buying.
In Kuala Lumpur, buying interest in palm plantation stocks helped pushed the Malaysia's main index to two-week highs along with rising Malaysia's palm oil futures, led by a 5.1 percent gain in Kuala Lumpur Kepong.
Buying accelerated after the S&P 500 broke through the high end of its recent range, suggesting Wall Street has the strength to move the market higher. Almost three stocks rose for every one that fell on the New York Stock Exchange.
The Dow Jones industrial average <.DJI> was up 77.99 points, or 0.64 percent, at 12,170.14. The Standard & Poor's 500 Index <.SPX> was up 9.88 points, or 0.75 percent, at 1,320.75. The Nasdaq Composite Index <.IXIC> was up 21.26 points, or 0.77 percent, at 2,790.56.
NYMEX-NEW YORK, Feb 7 (Reuters) - U.S. crude oil futures ended lower for a third session on Monday, dropping to their lowest level in more than a week, as no supplies have gotten disrupted from the Mideast even though unrest in Egypt continued.
Transits through the Suez Canal remained unaffected, though traders were closely watching developments in Egypt, with concerns still remaining that turmoil there may spread across the Middle East, traders said.
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO, Feb 7 (Reuters) - Chicago Board of Trade grain and
soy complex close on Monday.
CBOT-SOYBEANS - March
bushel. Fund long-liquidation weighs in addition to pressure form
better crop weather in Argentina.
CBOT-SOYOIL - March
REGIONAL EQUITIES-BANGKOK, Feb 7 (Reuters) - Most Southeast Asian stock markets were weaker to flat on Monday as investors cashed in on recent gains in energy-related stocks and financials, helping pull Singapore and Indonesia shares off their two-day highs.
Market volume was generally light as the improving U.S. economy sapped appetite for the emerging markets. Indonesia <.JKSE> and Thailand <.SETI> each saw its turnover around two-thirds the 30-day average.
Shares in Indonesia and Singapore <.FTSTI> failed to hold early gains, easing 0.6 percent and 0.2 percent respectively. Bargain hunters earlier entered the markets on technical-led buying, dealers said8.
Singapore-based Najeeb Jarhom, head of research at broker AmFraser Securities, said technical signals pointed to further upside for Singapore's Straits Times Index, with a 2011 fiscal budget announcement this month, partly helping to trigger buying.
In Kuala Lumpur, buying interest in palm plantation stocks helped pushed the Malaysia's main index to two-week highs along with rising Malaysia's palm oil futures, led by a 5.1 percent gain in Kuala Lumpur Kepong
Monday, February 7, 2011
Trader's Highlight
DJI-NEW YORK, Feb 4 (Reuters) - U.S. stocks ended higher on Friday and the S&P 500 posted its best week in nine as the market defied calls for a pullback.
Investors rotated into defensive and lagging sectors in a move that could intensify in coming weeks.
Based on the latest available data, the Dow Jones industrial average <.DJI> was up 29.44 points, or 0.24 percent, at 12,091.70. The Standard & Poor's 500 Index <.SPX> was up 3.73 points, or 0.29 percent, at 1,310.83. The Nasdaq Composite Index <.IXIC> was up 15.42 points, or 0.56 percent, at 2,769.30.
NYMEX-NEW YORK, Feb 4 (Reuters) - U.S. crude oil futures fell nearly 2 percent on Friday as the market was roiled by an apparently unfounded television report about a possible announcement from Egypt that sparked speculation President Hosni Mubarak could be stepping down.
Mixed signals in the government's unemployment report for January and a rebound in the dollar also pressured crude.
On the New York Mercantile Exchange, crude for March delivery settled down $1.51, or 1.67 percent, at $89.03 a barrel, after trading from $88.45 to $91.67.
CBOT-CHICAGO, Feb 4 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Friday.
CBOT-SOYBEANS - March down 2 cents at $14.33-1/2 per bushel. Funds sold an estimated net 4,000 contracts. Improved crop weather in Argentina and prospects for big soybean harvest this season in South America weigh, along with profit-taking near 28-1/2 month highs.
CBOT-SOYOIL - March up 0.20 cent per lb at 58.98. Funds bought 1,000 contracts.
FCPO-KUALA LUMPUR, Feb 2 (Reuters) - Benchmark palm oil futures rose as much as 2.4 percent on concerns of tight vegetable oil supplies as floods partly submerged oil palm estates in Malaysia, and Argentine port strikes continued for more than a week.
April palm oil on the Bursa Malaysia Derivatives Exchange climbed 91 ringgit to 3,900 ringgit within the first 20 minutes of trade.
REGIONAL EQUITIES-BANGKOK, Feb 4 (Reuters) - Indonesian stocks eked out small gains on Friday after an interest rate rise soothed inflation concerns and Thai stocks rose to their highest in almost two weeks after a surge in the shares of heavyweight PTT Exploration.
Market volume remained weak due to the Lunar New Year holidays in much of Asia, including Singapore <.FTSTI>, Malaysia <.KLSE> and Vietnam <.VNI>.
Investors rotated into defensive and lagging sectors in a move that could intensify in coming weeks.
Based on the latest available data, the Dow Jones industrial average <.DJI> was up 29.44 points, or 0.24 percent, at 12,091.70. The Standard & Poor's 500 Index <.SPX> was up 3.73 points, or 0.29 percent, at 1,310.83. The Nasdaq Composite Index <.IXIC> was up 15.42 points, or 0.56 percent, at 2,769.30.
NYMEX-NEW YORK, Feb 4 (Reuters) - U.S. crude oil futures fell nearly 2 percent on Friday as the market was roiled by an apparently unfounded television report about a possible announcement from Egypt that sparked speculation President Hosni Mubarak could be stepping down.
Mixed signals in the government's unemployment report for January and a rebound in the dollar also pressured crude.
On the New York Mercantile Exchange, crude for March delivery
CBOT-CHICAGO, Feb 4 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Friday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Feb 2 (Reuters) - Benchmark palm oil futures rose as much as 2.4 percent on concerns of tight vegetable oil supplies as floods partly submerged oil palm estates in Malaysia, and Argentine port strikes continued for more than a week.
April palm oil
REGIONAL EQUITIES-BANGKOK, Feb 4 (Reuters) - Indonesian stocks eked out small gains on Friday after an interest rate rise soothed inflation concerns and Thai stocks rose to their highest in almost two weeks after a surge in the shares of heavyweight PTT Exploration.
Market volume remained weak due to the Lunar New Year holidays in much of Asia, including Singapore <.FTSTI>, Malaysia <.KLSE> and Vietnam <.VNI>.
Wednesday, February 2, 2011
Trader's Highlight
DJI-NEW YORK, Feb 1 (Reuters) - U.S. stocks opened higher on Tuesday as solid manufacturing data in Europe helped investors refocus attentions from the maelstrom in the Middle East to hopes that a global economic recovery was on track.
The Dow Jones industrial average <.DJI> was up 33.64 points, or 0.28 percent, at 11,925.57. The Standard & Poor's 500 Index <.SPX> was up 3.02 points, or 0.23 percent, at 1,289.14. The Nasdaq Composite Index <.IXIC> was up 17.81 points, or 0.6percent, at 2,717.89.
NYMEX-NEW YORK, Feb 1 (Reuters) - U.S. crude oil ended lower on Tuesday, snapping a two-session rally sparked by the turmoil in Egypt, but fell deeper in post-settlement trading after industry data showed that domestic crude inventories rose more than expected last week.
The American Petroleum Institute reported that domestic crude stocks rose 3.8 million barrels last week.
On the New York Mercantile Exchange, crude for March delivery settled down $1.42, or 1.54 percent, at $90.77 a barrel, after trading from $90.48 to $92.45.
CBOT-CHICAGO, Feb 1 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.
CBOT-SOYBEANS - March up 25 cents at $14.38 per bushel. Rallied to 28-1/2 month high in spot contract and contract highs hit in March, May and August. Support from a port strike in Argentina that was delaying shipments, a weak dollar and cold weather in the United States that was increasing livestock feed consumption.
CBOT-SOYOIL - March up 0.84 cent at 58.72 cents per lb. Spillover support from gains in soybeans.
FCPO-KUALA LUMPUR, Jan 31 (Reuters) - Malaysian palm oil futures hit one-week highs on Monday as floods in key growing areas delayed deliveries, raising concern of a further tightening in global vegetable oil supplies and escalating inflation in importing nations.
Palm oil notched its highest daily gain this year with traders expecting the market to rally as floods in key producing regions of Johor and Sabah cut off access roads and bring harvesting to a standstill.
The benchmark April crude palm oil contract on the Bursa Malaysia Derivatives rose as much as 3 percent to 3,809 Malaysian ringgit ($1,247)a tonne, a level unseen since Jan. 24.
Traded volume stood at 19,085 lots at 25 tonnes each, as traders were compelled to take positions ahead of the a string of public holidays, including Federal Territories day on Tuesday and Lunar New Holiday on Thursday and Friday.
REGIONAL EQUITIES-BANGKOK, Feb 1 (Reuters) - Indonesian stocks climbed almost 1 percent on Tuesday, outperforming others in the region amid good demand for energy shares because of high global oil prices, but bank stocks fared badly as rising inflation hit sentiment.
Markets in the region saw relatively low turnover in a week shortened in many centres by Lunar New Year holidays. Volume in Indonesia fell to 0.88 times its 30-day avearage, with Singapore's easing to 0.91 times and Thailand's at 0.98 times.
Singapore <.FTSTI> ended a tad higher, trimming some of its early rise. The city-state's bourse is shut Thursday and Friday.
The Dow Jones industrial average <.DJI> was up 33.64 points, or 0.28 percent, at 11,925.57. The Standard & Poor's 500 Index <.SPX> was up 3.02 points, or 0.23 percent, at 1,289.14. The Nasdaq Composite Index <.IXIC> was up 17.81 points, or 0.6percent, at 2,717.89.
NYMEX-NEW YORK, Feb 1 (Reuters) - U.S. crude oil ended lower on Tuesday, snapping a two-session rally sparked by the turmoil in Egypt, but fell deeper in post-settlement trading after industry data showed that domestic crude inventories rose more than expected last week.
The American Petroleum Institute reported that domestic crude stocks rose 3.8 million barrels last week.
On the New York Mercantile Exchange, crude for March delivery
CBOT-CHICAGO, Feb 1 (Reuters) - Chicago Board of Trade grains and soy complex close on Tuesday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Jan 31 (Reuters) - Malaysian palm oil futures hit one-week highs on Monday as floods in key growing areas delayed deliveries, raising concern of a further tightening in global vegetable oil supplies and escalating inflation in importing nations.
Palm oil notched its highest daily gain this year with traders expecting the market to rally as floods in key producing regions of Johor and Sabah cut off access roads and bring harvesting to a standstill.
The benchmark April crude palm oil contract
Traded volume stood at 19,085 lots at 25 tonnes each, as traders were compelled to take positions ahead of the a string of public holidays, including Federal Territories day on Tuesday and Lunar New Holiday on Thursday and Friday.
REGIONAL EQUITIES-BANGKOK, Feb 1 (Reuters) - Indonesian stocks climbed almost 1 percent on Tuesday, outperforming others in the region amid good demand for energy shares because of high global oil prices, but bank stocks fared badly as rising inflation hit sentiment.
Markets in the region saw relatively low turnover in a week shortened in many centres by Lunar New Year holidays. Volume in Indonesia fell to 0.88 times its 30-day avearage, with Singapore's easing to 0.91 times and Thailand's at 0.98 times.
Singapore <.FTSTI> ended a tad higher, trimming some of its early rise. The city-state's bourse is shut Thursday and Friday.
Monday, January 31, 2011
Trader's Highlight
DJI-NEW YORK, Jan 28 (Reuters) - Stocks suffered their biggest one-day loss in nearly six months on Friday as anti-government rioting in Egypt prompted investors to flee to less risky assets to ride out the turmoil.
Increased instability in the Middle East drove up the CBOE Volatility Index <.VIX>, the stock market's fear gauge, as investors scrambled for protective positions.
The Dow Jones industrial average <.DJI> ended down 166.13 points, or 1.39 percent, at 11,823.70. The Standard & Poor's 500 Index <.SPX> was down 23.20 points, or 1.79 percent, at 1,276.34. The Nasdaq Composite Index <.IXIC> fell 68.39 points, or 2.48 percent, at 2,686.89.
NYMEX-NEW YORK, Jan 28 (Reuters) - U.S. crude oil futures ended more than 4 percent higher on Friday, on concerns that civil unrest in Egypt could spread and threaten stability in the Middle East.
Prices rose early after government data showed the U.S. economy grew by 3.2 percent in the fourth quarter of 2010, fueled by a big gain in consumer spending, which prompted hopes for increased energy demand.
On the New York Mercantile Exchange, crude for March delivery ended up $3.70, or 4.32 percent, at $89.34 a barrel, after trading from $85.11 to $89.73. It was the biggest one-day gain since Sept. 30, 2009, when prices ended up 5.8 percent.
CBOT-CHICAGO, Jan 28 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Friday.
CBOT-SOYBEANS - March down 1-1/2 cent at $13.98 per bushel. Weighed down by spillover pressure from tumbling wheat market due to concern about export sales and shipments to Egypt. Soy was underpinned by a port strike in Argentina that may eventually delay exports and shift business to the United States.
CBOT-SOYOIL - March down 0.14 cent per lb at 57.27 cents per lb. Following soybeans.
FCPO-KUALA LUMPUR, Jan 28 (Reuters) - Malaysian palm oil futures extended gains on Friday, as worries over heavy rains stalling harvesting lifted prices.
Palm oil is set to post its first monthly loss in seven months, although traders expect the market to gain in the coming days as rains continue to reduce harvesting rounds in key Malaysian oil palm growing regions.
The benchmark April crude palm oil contract on Bursa Malaysia Derivatives settled up 0.4 percent to 3,700 ringgit($1,212) per tonne.
Traded volume stood at 16,934 lots at 25 tonnes each, compared to the usual 15,000 lots as investors squared positions ahead of the Lunar New year holidays next week.
REGIONAL EQUITIES-COLOMBO, Jan 28 (Reuters) - Most Southeast Asian stock markets closed weaker on Friday, led by Indonesia and Thailand, weighed down by worries over inflation and fears of further monetary tightening by China, analysts said.
Thailand <.SETI> fell 0.5 percent on Friday, giving it a weekly loss of 2.5 percent. The stock exchange reported net selling worth $24 million on the day.
Indonesia <.JKSE>, the region's best performer last year, fell 0.8 percent, led by mining shares, with a net foreign outflow of $28.7 million. But it rose 3.2 percent on the week, the best performance in the region, after healthy gains over the previous three sessions.
Both Jakarta and Bangkok recovered some lost ground after sharp falls of as much as 1.3 percent in early trade.
Malaysia <.KLSE> lost 0.3 percent and the Philippines closed 0.5 percent weaker with less than $1 million in foreign inflows.
Bucking the trend, Singapore <.FTSTI> recovered to close 0.3 percent firmer at its highest close since Jan. 19, while Vietnam <.VNI> rose 1.6 percent to a one-week high.
Increased instability in the Middle East drove up the CBOE Volatility Index <.VIX>, the stock market's fear gauge, as investors scrambled for protective positions.
The Dow Jones industrial average <.DJI> ended down 166.13 points, or 1.39 percent, at 11,823.70. The Standard & Poor's 500 Index <.SPX> was down 23.20 points, or 1.79 percent, at 1,276.34. The Nasdaq Composite Index <.IXIC> fell 68.39 points, or 2.48 percent, at 2,686.89.
NYMEX-NEW YORK, Jan 28 (Reuters) - U.S. crude oil futures ended more than 4 percent higher on Friday, on concerns that civil unrest in Egypt could spread and threaten stability in the Middle East.
Prices rose early after government data showed the U.S. economy grew by 3.2 percent in the fourth quarter of 2010, fueled by a big gain in consumer spending, which prompted hopes for increased energy demand.
On the New York Mercantile Exchange, crude for March delivery
CBOT-CHICAGO, Jan 28 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Friday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Jan 28 (Reuters) - Malaysian palm oil futures extended gains on Friday, as worries over heavy rains stalling harvesting lifted prices.
Palm oil is set to post its first monthly loss in seven months, although traders expect the market to gain in the coming days as rains continue to reduce harvesting rounds in key Malaysian oil palm growing regions.
The benchmark April crude palm oil contract
Traded volume stood at 16,934 lots at 25 tonnes each, compared to the usual 15,000 lots as investors squared positions ahead of the Lunar New year holidays next week.
REGIONAL EQUITIES-COLOMBO, Jan 28 (Reuters) - Most Southeast Asian stock markets closed weaker on Friday, led by Indonesia and Thailand, weighed down by worries over inflation and fears of further monetary tightening by China, analysts said.
Thailand <.SETI> fell 0.5 percent on Friday, giving it a weekly loss of 2.5 percent. The stock exchange reported net selling worth $24 million on the day.
Indonesia <.JKSE>, the region's best performer last year, fell 0.8 percent, led by mining shares, with a net foreign outflow of $28.7 million. But it rose 3.2 percent on the week, the best performance in the region, after healthy gains over the previous three sessions.
Both Jakarta and Bangkok recovered some lost ground after sharp falls of as much as 1.3 percent in early trade.
Malaysia <.KLSE> lost 0.3 percent and the Philippines closed 0.5 percent weaker with less than $1 million in foreign inflows.
Bucking the trend, Singapore <.FTSTI> recovered to close 0.3 percent firmer at its highest close since Jan. 19, while Vietnam <.VNI> rose 1.6 percent to a one-week high.
Friday, January 28, 2011
Trader's Highlight
DJI-NEW YORK, Jan 27 (Reuters) - Strong corporate earnings led Wall Street to a 29-month closing high for a second day on Thursday, but another run of big gains may be harder to achieve.
The Dow and the S&P struggled to advance past major technical levels -- the 12,000 mark for the Dow and 1,300 for the S&P -- but investors see more gains for companies that outperform in their earnings.
The Dow Jones industrial average <.DJI> finished up 4.39 points, or 0.04 percent, at 11,989.83. The Standard & Poor's 500 Index <.SPX> closed up 2.91 points, or 0.22 percent, at 1,299.54. The Nasdaq Composite Index <.IXIC> was up 15.78 points, or 0.58 percent, at 2,755.28.
NYMEX-NEW YORK, Jan 27 (Reuters) - U.S. crude oil futures ended nearly 2 percent lower on Wednesday as weak U.S. economic data spurred selling that wiped out Tuesday's gains, in a session delayed by heavy snow in the New York area,
Talk of higher OPEC production and a weekly forecast showing higher seaborne oil exports from the group added pressure.
On the New York Mercantile Exchange, March crude settled down $1.69, or 1.94 percent, at $85.64 a barrel, the lowest close since the Nov. 30, 2010, settlement at $84.11. It traded from $85.31, lowest since Dec. 1's $83.63, to $87.66. Technical support buckled down at $86, analysts said.
CBOT-CHICAGO, Jan 27 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Thursday.
CBOT-SOYBEANS - March up 14 cents at $13.99-1/2 per bushel. Big exports of U.S. soy, firm cash markets, an Argentine port strike and unwinding of grains/soy spreads boost soybeans to a higher close.
CBOT-SOYOIL - March up 0.71 cent at 57.41 cents per lb. Following soybeans and oil/meal spreading, as Census soymeal stocks for soymeal above estimates.
FCPO-KUALA LUMPUR, Jan 27 (Reuters) - Malaysian palm oil futures rebounded on Thursday from one-week lows hit the previous day, buoyed by global commodities markets and stronger demand ahead of Lunar New Year.
Commodities rebounded forcefully on Wednesday from sharp losses the previous session as demand hopes and supply snags drove up oil, metals and crop prices.
The benchmark April crude palm oil contract on the Bursa Malaysia Derivatives exchange ended up 0.4 percent at 3,685 ringgit ($1,208) a tonne. Overall traded volume were 25,648 lots of 25 tonnes each, compared to the usual 15,500 lots.
REGIONAL EQUITIES-COLOMBO, Jan 27 (Reuters) - Southeast Asian stock markets mostly gained on Thursday as foreign investors again put money into the region although volume on the whole was low.
Commodity and energy shares were in particular demand. Indonesia <.JKSE> ended 0.4 percent higher, below the 1.4 percent seen in the early trade, led by shares in the consumer goods sector, and foreign investors bought a net $80.2 million of stock after $176.4 million in the previous three sessions, Reuters data showed.
Malaysia <.JKSE> gained 0.5 percent, with Petronas Chemicals Group gaining 2.7 percent, and Vietnam <.VNI> rose 0.3 percent. Singapore <.FTSTI> closed flat.
Some regional analysts say foreigners may increase their buying in the region as the valuations are becoming attractive again after the recent fall.
Singapore is trading at 13.9 times this year's projected earnings, the highest in the region and compared to all-Asia's 12.9. Thailand is trading at 11.4, lower than the 13.7 of Malaysia and Indonesia and 12.4 of the Philippines, Thomson Reuters StarMine data shows.
The Dow and the S&P struggled to advance past major technical levels -- the 12,000 mark for the Dow and 1,300 for the S&P -- but investors see more gains for companies that outperform in their earnings.
The Dow Jones industrial average <.DJI> finished up 4.39 points, or 0.04 percent, at 11,989.83. The Standard & Poor's 500 Index <.SPX> closed up 2.91 points, or 0.22 percent, at 1,299.54. The Nasdaq Composite Index <.IXIC> was up 15.78 points, or 0.58 percent, at 2,755.28.
NYMEX-NEW YORK, Jan 27 (Reuters) - U.S. crude oil futures ended nearly 2 percent lower on Wednesday as weak U.S. economic data spurred selling that wiped out Tuesday's gains, in a session delayed by heavy snow in the New York area,
Talk of higher OPEC production and a weekly forecast showing higher seaborne oil exports from the group added pressure.
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO, Jan 27 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Thursday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Jan 27 (Reuters) - Malaysian palm oil futures rebounded on Thursday from one-week lows hit the previous day, buoyed by global commodities markets and stronger demand ahead of Lunar New Year.
Commodities rebounded forcefully on Wednesday from sharp losses the previous session as demand hopes and supply snags drove up oil, metals and crop prices.
The benchmark April crude palm oil contract
REGIONAL EQUITIES-COLOMBO, Jan 27 (Reuters) - Southeast Asian stock markets mostly gained on Thursday as foreign investors again put money into the region although volume on the whole was low.
Commodity and energy shares were in particular demand. Indonesia <.JKSE> ended 0.4 percent higher, below the 1.4 percent seen in the early trade, led by shares in the consumer goods sector, and foreign investors bought a net $80.2 million of stock after $176.4 million in the previous three sessions, Reuters data showed.
Malaysia <.JKSE> gained 0.5 percent, with Petronas Chemicals Group
Some regional analysts say foreigners may increase their buying in the region as the valuations are becoming attractive again after the recent fall.
Singapore is trading at 13.9 times this year's projected earnings, the highest in the region and compared to all-Asia's 12.9. Thailand is trading at 11.4, lower than the 13.7 of Malaysia and Indonesia and 12.4 of the Philippines, Thomson Reuters StarMine data shows.
Thursday, January 27, 2011
Trader's Highlight
DJI-NEW YORK, Jan 26 (Reuters) - The S&P 500 closed at a 29-month high on Wednesday led by gains in tech and commodity shares, as investors largely ignored the U.S. Federal Reserve's lukewarm economic assessment.
The stock market had little reaction to the Fed, which said high unemployment still justifies a $600 billion bond-buying program that has helped equities rally in the last few months.
The Dow Jones industrial average <.DJI> edged up 8.25 points, or 0.07 percent, to end at 11,985.44. The Standard & Poor's 500 Index <.SPX> advanced 5.45 points, or 0.42 percent, to 1,296.63. The Nasdaq Composite Index <.IXIC> gained 20.25 points, or 0.74 percent, to 2,739.50.
NYMEX-NEW YORK, Jan 26 (Reuters) - U.S. crude futures prices rose and ended a streak of six consecutive declines on Wednesday after technical support held above $86 a barrel and the Federal Reserve left interest rates unchanged and its $600 billion bond-buying plan intact.
Prices received lift from Wall Street's strength following President Barack Obama's call for lower corporate taxes, which could spur investment and boost energy demand.
On the New York Mercantile Exchange, March crude rose $1.14, or 1.32 percent, to settle at $87.33 a barrel, trading from $86.03 to $87.79, a high reached in post-settlement trading.
CBOT-CHICAGO, Jan 26 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.
CBOT-SOYBEANS - March up 11 cents at $13.85-1/2 per bushel. Gains in wheat market offer support. China demand for U.S. soy and soybean futures continue to underpin prices.
CBOT-SOYOIL - March up 0.92 cent at 56.70 cents per lb. Following soybeans, gains in crude oil futures.
FCPO-KUALA LUMPUR, Jan 26 (Reuters) - Malaysian palm oil bounced off fresh one-week lows on Wednesday on talk of production falling further this month as rains continue to batter estates.
But investors continued to factor in favourable weather across Argentina's farming belt that may relieve soy and corn crops suffering from drought.
The benchmark April crude palm oil contract on Bursa Malaysia Derivatives ended down nearly 1 percent to 3,670 ringgit ($1,202) a tonne, after going as low as 3,622 ringgit -- a level unseen since Jan. 18.
REGIONAL EQUITIES-COLOMBO, Jan 26 (Reuters) - Thailand's stock market gained on Wednesday, with demand for energy shares helping it rally from a four-month low, and Indonesia hit a one-week high as foreign inflows helped boost both markets after a recent sell-off.
Thailand saw a net $12.8 million in foreign buying, Indonesia $59.5 million and the Philippines $7.2 million, Reuters data showed.
The 14-day relative strength indexes of Thailand, Malaysia and the Philippines are just above 30, Reuters data showed. Below that, a market is considered oversold. Indonesia's index is at 45.1 and Singapore's at 52.3. Trading volumes in Thailand and Malaysia were higher than their 30-day average.
The stock market had little reaction to the Fed, which said high unemployment still justifies a $600 billion bond-buying program that has helped equities rally in the last few months.
The Dow Jones industrial average <.DJI> edged up 8.25 points, or 0.07 percent, to end at 11,985.44. The Standard & Poor's 500 Index <.SPX> advanced 5.45 points, or 0.42 percent, to 1,296.63. The Nasdaq Composite Index <.IXIC> gained 20.25 points, or 0.74 percent, to 2,739.50.
NYMEX-NEW YORK, Jan 26 (Reuters) - U.S. crude futures prices rose and ended a streak of six consecutive declines on Wednesday after technical support held above $86 a barrel and the Federal Reserve left interest rates unchanged and its $600 billion bond-buying plan intact.
Prices received lift from Wall Street's strength following President Barack Obama's call for lower corporate taxes, which could spur investment and boost energy demand.
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO, Jan 26 (Reuters) - Chicago Board of Trade grain and soy complex close on Wednesday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Jan 26 (Reuters) - Malaysian palm oil bounced off fresh one-week lows on Wednesday on talk of production falling further this month as rains continue to batter estates.
But investors continued to factor in favourable weather across Argentina's farming belt that may relieve soy and corn crops suffering from drought.
The benchmark April crude palm oil contract
REGIONAL EQUITIES-COLOMBO, Jan 26 (Reuters) - Thailand's stock market gained on Wednesday, with demand for energy shares helping it rally from a four-month low, and Indonesia hit a one-week high as foreign inflows helped boost both markets after a recent sell-off.
Thailand saw a net $12.8 million in foreign buying, Indonesia $59.5 million and the Philippines $7.2 million, Reuters data showed.
The 14-day relative strength indexes of Thailand, Malaysia and the Philippines are just above 30, Reuters data showed. Below that, a market is considered oversold. Indonesia's index is at 45.1 and Singapore's at 52.3. Trading volumes in Thailand and Malaysia were higher than their 30-day average.
Wednesday, January 26, 2011
Trader's Highlight
DJI-NEW YORK, Jan 25 (Reuters) - U.S. stocks erased losses in a late flurry of buying to end little changed on Tuesday as overall optimism about earnings offset disappointing results from blue chips 3M and Johnson & Johnson.
About 70 percent of S&P companies so far have beaten estimates, but worries about inflation cutting into profits have caused investors to jump on shares of companies that only produce spectacular results.
The Dow Jones industrial average <.DJI> finished down 3.33 points, or 0.03 percent, at 11,977.19. The Standard & Poor's 500 Index <.SPX> was up 0.34 point, or 0.03 percent, at 1,291.18. The Nasdaq Composite Index <.IXIC> was up 1.70 points, or 0.06 percent, at 2,719.25.
NYMEX-NEW YORK, Jan 25 (Reuters) - U.S. crude oil futures ended lower for a sixth day on Tuesday as a surprise dip in Britain's fourth-quarter economic growth and India's move to raise interest rates raised fresh worries about global economic recovery.
Forecasts that weekly U.S. petroleum inventory reports will show a second consecutive week of an increase in domestic crude inventories also kept investors edgy.
On the New York Mercantile Exchange, crude for March delivery settled down $1.68, or 1.91 percent, at $86.19 a barrel, after trading between $86.12, the lowest since Dec.1, and $87.85.
CBOT-CHICAGO, Jan 25 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.
CBOT-SOYBEANS - March down 30 cents at $13.74-1/2 per bushel. Fell to a two-week low on widespread sell-off of commodities as India raised interest rates to slow inflation.
CBOT-SOYOIL - March down 1.40 cents at 55.78 cents per lb. Following soybeans.
FCPO-KUALA LUMPUR Jan 25 (Reuters) - Malaysian palm oil futures fell to one-week low on Tuesday as investors continued to book profits on a rally driven by strong demand and tight supplies.
Although cargo surveyors said Malaysian exports hit above 1 million tonnes for the first 25 days of January, some traders were concerned the recent run-up in prices owing to tight supply would eventually slow demand.
A bearish technical outlook may have weighed on palm oil. A Reuters analysis showed the Malaysian market could fall to 3,650 ringgit per tonne.
The benchmark April 2011 crude palm oil contract on Bursa Malaysia Derivatives fell as much as 1.6 percent to 3,690 ringgit ($1,208), a level unseen since Jan 18. The contract then settled at 3,703 ringgit. Traded volume stood at 24,436 lots of 25 tonnes each, slightly lower than the usual 15,000 lots.
REGIONAL EQUITIES-BANGKOK, Jan 25 (Reuters) - Indonesian and Philippine shares rose on Tuesday, regaining a little of the ground lost recently as some investors looked for bargains in banks and other big-cap stocks, but others in the region failed to hold on to early gains.
Several Southeast Asian indexes are around multi-month lows, but that has taken some to what are seen as oversold areas, including Indonesia <.JKSE>, the Philippines <.PSI> and Thailand <.SETI>. Trade was generally more active on Tuesday, with volume in Singapore <.FTSTI> at 1.4 times its 30-day average.
About 70 percent of S&P companies so far have beaten estimates, but worries about inflation cutting into profits have caused investors to jump on shares of companies that only produce spectacular results.
The Dow Jones industrial average <.DJI> finished down 3.33 points, or 0.03 percent, at 11,977.19. The Standard & Poor's 500 Index <.SPX> was up 0.34 point, or 0.03 percent, at 1,291.18. The Nasdaq Composite Index <.IXIC> was up 1.70 points, or 0.06 percent, at 2,719.25.
NYMEX-NEW YORK, Jan 25 (Reuters) - U.S. crude oil futures ended lower for a sixth day on Tuesday as a surprise dip in Britain's fourth-quarter economic growth and India's move to raise interest rates raised fresh worries about global economic recovery.
Forecasts that weekly U.S. petroleum inventory reports will show a second consecutive week of an increase in domestic crude inventories also kept investors edgy.
On the New York Mercantile Exchange, crude for March delivery
CBOT-CHICAGO, Jan 25 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR Jan 25 (Reuters) - Malaysian palm oil futures fell to one-week low on Tuesday as investors continued to book profits on a rally driven by strong demand and tight supplies.
Although cargo surveyors said Malaysian exports hit above 1 million tonnes for the first 25 days of January, some traders were concerned the recent run-up in prices owing to tight supply would eventually slow demand.
A bearish technical outlook may have weighed on palm oil. A Reuters analysis showed the Malaysian market could fall to 3,650 ringgit per tonne.
The benchmark April 2011 crude palm oil contract
REGIONAL EQUITIES-BANGKOK, Jan 25 (Reuters) - Indonesian and Philippine shares rose on Tuesday, regaining a little of the ground lost recently as some investors looked for bargains in banks and other big-cap stocks, but others in the region failed to hold on to early gains.
Several Southeast Asian indexes are around multi-month lows, but that has taken some to what are seen as oversold areas, including Indonesia <.JKSE>, the Philippines <.PSI> and Thailand <.SETI>. Trade was generally more active on Tuesday, with volume in Singapore <.FTSTI> at 1.4 times its 30-day average.
Tuesday, January 25, 2011
Trader's Highlight
DJI-NEW YORK, Jan 24 (Reuters) - Wall Street resumed its rally on Monday, led by natural resources and tech shares as investors saw stocks regaining momentum lost late last week.
A share-buyback from Dow component Intel helped revive optimism, which has been reinforced by more strong profit reports. Three-quarters of the 84 S&P 500 companies that have reported results so far in this earnings season have beaten analysts'
estimates.
On Monday the Dow Jones industrial average <.DJI> ended up 108.68 points, or 0.92 percent, at 11,980.52. The Standard & Poor's 500 Index <.SPX> was up 7.49 points, or 0.58 percent, at 1,290.84. The Nasdaq Composite Index <.IXIC> was up 28.01 points, or 1.04 percent, at 2,717.55.
NYMEX-NEW YORK, Jan 24 (Reuters) - U.S. crude oil futures ended lower for the fifth straight session on Monday as currently ample stockpiles weighed and investors shrugged off forecasts that oil demand will rise this year.
Early in the session, extremely cold weather in the Northeast, the top heating oil market, lifted heating oil futures to fresh 27-month highs. But they were dragged down by crude and ended lower.
On the New York Mercantile Exchange, March crude settled $1.24 lower, or 1.39 percent, at $87.87 a barrel, after trading from $87.27, the lowest since Jan. 7's low of $87.25, and $89.63.
CBOT-CHICAGO, Jan 24 (Reuters) - Chicago Board of Trade grain and soybean futures close on Monday.
CBOT-SOYBEANS - March down 7-3/4 cents at $14.04-1/2 per bushel. Profit-taking, better crop weather in Argentina weigh on soybean futures but market underpinned by good demand for soy by China.
CBOT-SOYOIL - March down 0.38 cent at 57.18 cents per lb. Following soybeans and lower crude oil.
FCPO-Jakarta Jan 24 (Reuters) - Malaysian palm oil futures ended off a two week high on Monday, tracking comparative vegetable oil prices higher as traders were concerned the ongoing rally might dent demand.
The benchmark April 2011 crude palm oil contract on Bursa Malaysia Derivatives ended flat at 3,748 Malaysian ringgit ($1,224) a tonne. Prices earlier in the day hit a high at 3,836 ringgit, a level not seen since Jan. 7. Overall, traded volume stood at 23,570 lots of 25 tonnes each compared with a total of 12,496 lots on Friday.
REGIONAL EQUITIES-COLOMBO, Jan 24 (Reuters) - Thailand's stock market fell 4.3percent on Monday, leading most other Southeast Asian bourses down as foreign investors continued to bale out of markets they believe are vulnerable to growing inflationary pressures.
Thailand <.SETI> posted its biggest loss since Oct 15, 2009, led by energy and banking shares. Indonesia <.JKSE>, the region's worst-performing bourse this year, lost 1 percent and the Philippines <.PSI> fell 1.2 percent to a 4-½ month low.
Thailand and Malaysia saw trading volume go above their 90-day average on Monday, but turnover elsewhere was fairly low.
Malaysia is trading at 14.0 times this year's projected earnings, the highest in the region and compared to all-Asia's 12.9. Thailand is trading at 12.0, lower than the 13.8 of Singapore, 13.2 of Indonesia and 12.5 of the Philippines, Thomson Reuters StarMine data shows.
A share-buyback from Dow component Intel helped revive optimism, which has been reinforced by more strong profit reports. Three-quarters of the 84 S&P 500 companies that have reported results so far in this earnings season have beaten analysts'
estimates.
On Monday the Dow Jones industrial average <.DJI> ended up 108.68 points, or 0.92 percent, at 11,980.52. The Standard & Poor's 500 Index <.SPX> was up 7.49 points, or 0.58 percent, at 1,290.84. The Nasdaq Composite Index <.IXIC> was up 28.01 points, or 1.04 percent, at 2,717.55.
NYMEX-NEW YORK, Jan 24 (Reuters) - U.S. crude oil futures ended lower for the fifth straight session on Monday as currently ample stockpiles weighed and investors shrugged off forecasts that oil demand will rise this year.
Early in the session, extremely cold weather in the Northeast, the top heating oil market, lifted heating oil futures to fresh 27-month highs. But they were dragged down by crude and ended lower.
On the New York Mercantile Exchange, March crude
CBOT-CHICAGO, Jan 24 (Reuters) - Chicago Board of Trade grain and soybean futures close on Monday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-Jakarta Jan 24 (Reuters) - Malaysian palm oil futures ended off a two week high on Monday, tracking comparative vegetable oil prices higher as traders were concerned the ongoing rally might dent demand.
The benchmark April 2011 crude palm oil contract
REGIONAL EQUITIES-COLOMBO, Jan 24 (Reuters) - Thailand's stock market fell 4.3percent on Monday, leading most other Southeast Asian bourses down as foreign investors continued to bale out of markets they believe are vulnerable to growing inflationary pressures.
Thailand <.SETI> posted its biggest loss since Oct 15, 2009, led by energy and banking shares. Indonesia <.JKSE>, the region's worst-performing bourse this year, lost 1 percent and the Philippines <.PSI> fell 1.2 percent to a 4-½ month low.
Thailand and Malaysia saw trading volume go above their 90-day average on Monday, but turnover elsewhere was fairly low.
Malaysia is trading at 14.0 times this year's projected earnings, the highest in the region and compared to all-Asia's 12.9. Thailand is trading at 12.0, lower than the 13.8 of Singapore, 13.2 of Indonesia and 12.5 of the Philippines, Thomson Reuters StarMine data shows.
Monday, January 24, 2011
Trader's Highlight
DJI-NEW YORK, Jan 21 (Reuters) - U.S. stocks rose on Friday after two days of declines as strong earnings General Electric and Google boosted investor optimism.
General Electric Co was the top gainer on the Dow index, up 4.5 percent at $19.28. The world's biggest maker of electric turbines and jet engines, reported
better-than-expected earnings, helped by the recovery of its finance arm and a rise in revenue at its industrial units, including a sharp pickup in sales of locomotives.
The Dow Jones industrial average <.DJI> was up 53.81 points, or 0.46 percent, at 11,876.61. The Standard & Poor's 500 Index <.SPX> was up 6.78 points, or 0.53 percent, at 1,287.04. The Nasdaq Composite Index <.IXIC> was up 10.90 points, or 0.40 percent, at 2,715.19.
NYMEX-NEW YORK, Jan 21 (Reuters) - U.S. crude oil futures fell for the fourth straight day on Friday, ending the week more than 2 percent weaker as rising domestic stockpiles weighed.
U.S. crude losses deepened as investors continued to factor government inventory data on Thursday which showed domestic inventories rose last week, after an unbroken stretch of drawdowns in the previous six weeks.
On the New York Mercantile Exchange, crude for March delivery settled down 48 cents, or 0.54 percent, at $89.11 a barrel, after trading from $88.87 to $90.22.
CBOT-CHICAGO, Jan 21 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Friday.
CBOT-SOYBEANS - March down 2 cents at $14.12-1/4 per bushel. New-crop November up 6-1/2 at $13.48-1/4. Pressure on nearby months from improved crop weather in Argentina but underpinned by big exports of U.S. soy and a weak dollar. Deferred months lifted by bullish soy acreage outlook for 2011 U.S. crop by Informa Economics.
CBOT-SOYOIL - March up 0.30 cent at 57.56 cents per lb. Oil/meal spreading lifted soyoil. Funds bought an estimated net 3,000 contracts.
FCPO-JAKARTA, Jan 21 (Reuters) - Malaysian palm oil futures rose to a near two-week high on Friday, as traders cited strong export data amid concern that supplies will struggle to keep pace with robust demand.
The market was on course to post its first weekly gain for the year as traders shifted their focus to bullish fundamentals after booking profits from Jan. 5 onwards due to the stronger U.S. dollar, some concerns of demand slowing and a technical correction.
The benchmark April 2011 crude palm oil contract on Bursa Malaysia Derivatives rose 0.5 percent to 3,748 ringgit a tonne at the close. It earlier peaked at 3,797 ringgit, the highest level since Jan. 10. Overall, traded volume stood at 11,930 lots of 25 tonnes each, compared with a total of 13,739 lots on Wednesday.
REGIONAL EQUITIES-JAKARTA, Jan 21 (Reuters) - Most Southeast Asian stock markets fell on Friday, with Indonesia and Philippines dipping more than 10 percent off historical highs at one point as disappointing U.S earnings and fears of further monetary tightening in China turned sentiment sour.
Malaysia's KLCI Index <.KLSE> slid 1.22 percent, the biggest one-day drop in more than eight months, while the main indexes in Indonesia <.JKSE> and the Philippines <.PSI> dropped more than 10 percent.
General Electric Co
better-than-expected earnings, helped by the recovery of its finance arm and a rise in revenue at its industrial units, including a sharp pickup in sales of locomotives.
The Dow Jones industrial average <.DJI> was up 53.81 points, or 0.46 percent, at 11,876.61. The Standard & Poor's 500 Index <.SPX> was up 6.78 points, or 0.53 percent, at 1,287.04. The Nasdaq Composite Index <.IXIC> was up 10.90 points, or 0.40 percent, at 2,715.19.
NYMEX-NEW YORK, Jan 21 (Reuters) - U.S. crude oil futures fell for the fourth straight day on Friday, ending the week more than 2 percent weaker as rising domestic stockpiles weighed.
U.S. crude losses deepened as investors continued to factor government inventory data on Thursday which showed domestic inventories rose last week, after an unbroken stretch of drawdowns in the previous six weeks.
On the New York Mercantile Exchange, crude for March delivery
CBOT-CHICAGO, Jan 21 (Reuters) - Chicago Board of Trade grain and soy complex futures close on Friday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-JAKARTA, Jan 21 (Reuters) - Malaysian palm oil futures rose to a near two-week high on Friday, as traders cited strong export data amid concern that supplies will struggle to keep pace with robust demand.
The market was on course to post its first weekly gain for the year as traders shifted their focus to bullish fundamentals after booking profits from Jan. 5 onwards due to the stronger U.S. dollar, some concerns of demand slowing and a technical correction.
The benchmark April 2011 crude palm oil contract
REGIONAL EQUITIES-JAKARTA, Jan 21 (Reuters) - Most Southeast Asian stock markets fell on Friday, with Indonesia and Philippines dipping more than 10 percent off historical highs at one point as disappointing U.S earnings and fears of further monetary tightening in China turned sentiment sour.
Malaysia's KLCI Index <.KLSE> slid 1.22 percent, the biggest one-day drop in more than eight months, while the main indexes in Indonesia <.JKSE> and the Philippines <.PSI> dropped more than 10 percent.
Wednesday, January 19, 2011
Breaking News-RTRS - China turning to U.S. for soyoil imports-Oil World
HAMBURG, Jan 18 (Reuters) - China has increasingly imported U.S. soyoil in past weeks, turning its back on rival Argentine supplies for unclear reasons, Hamburg-based oilseeds analysts Oil World said on Tuesday.
China, the world's largest soyoil importer, has not made major purchases from South America in the past few weeks, Oil World said. Oil World also believes Brazilian supplies are practically sold out for nearby shipment.
China, the world's largest soyoil importer, has not made major purchases from South America in the past few weeks, Oil World said. Oil World also believes Brazilian supplies are practically sold out for nearby shipment.
Trader's Highlight
DJI-NEW YORK, Jan 18 (Reuters) - U.S. stocks gained on Tuesday, overcoming weak Citigroup results and concerns circling Apple after news of Chief Executive Steve Jobs' medical leave.
Investors focused instead on increased price targets for Google, which reports later this week, and Dow component Caterpillar , whose results are due next week.
The Dow Jones industrial average <.DJI> rose 50.55 points, or 0.43 percent, to end at 11,837.93. The Standard & Poor's 500 Index <.SPX> added 1.78 points, or 0.14 percent, to 1,295.02. The Nasdaq Composite Index <.IXIC> gained 10.55 points, or 0.38 percent, at 2,765.85.
NYMEX-NEW YORK, Jan 18 (Reuters) - U.S. crude oil futures ended lower on Tuesday, pressured by the restart of the Trans Alaska Pipeline and as the International Energy Agency said some members of OPEC may have quietly raised production in response to prices nearing $100 a barrel.
In a monthly report, the IEA raised its global demand growth forecast for this year and the dollar weakened against the euro, both helping limit the day's losses for crude oil.
Trading volume was well below that of Friday's, when prices rose, as U.S. markets reopened after Monday's Martin Luther King holiday.
On the New York Mercantile Exchange, February crude settled down 16 cents, or 0.17 percent, at $91.38 a barrel, trading from $90.55 to $91.90.
CBOT-CHICAGO, Jan 18 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.
CBOT-SOYBEANS - March down 9-1/4 cents at $14.13-1/4 per bushel. November up 2-3/4 at $13.26. Rainfall over the weekend in Argentina weighed on nearby months as did news China canceled a couple cargoes of soy it had purchased from the U.S. while deferred months up on unwinding of bull spreads.
CBOT-SOYOIL - March up 0.28 cent at 57.55 cents per lb. Egypt's FIHC buys 20,000 tonnes soyoil for arrival in second half of Feb - trader
FCPO-JAKARTA, Jan 18 (Reuters) - Malaysian palm oil bounced from one-month lows hit earlier on Tuesday, as persistent worries that demand will outstrip supplies, buoyed prices.
The benchmark April 2011 crude palm oil contract on Bursa Malaysia Derivatives ended up 0.6 percent at 3,670 Malaysian ringgit ($1,200) a tonne, after going as low as 3,610 ringgit a tonne earlier. Overall, traded volume stood at 11,293lots of 25 tonnes each, compared with a total of 10,525 lots on Monday.
REGIONAL EQUITIES-BANGKOK, Jan 18 (Reuters) - Major Southeast Asian stock markets posted limited gains on Tuesday, with risk appetite weak across the region, but investors picked up stocks in companies expected to report good results, including Thailand's banks.
Investors turned cautious as euro zone finance ministers seemed to be in no rush to beef up their rescue fund, and some wanted to see the reaction in U.S. stocks to news Apple Inc CEO Steve Jobs was taking medical leave.
Stocks in Singapore <.FTSTI> ended up 0.34 percent, taking their lead from Chinese stocks <.SSEC>, which bounced off the day's low as strong bank earnings helped offset downward pressure from signs of a further clampdown on lending.
Singapore's volume remained weak at 0.9 times its 30-day average, similar to most in the region.
In Singapore, gains in the offshore and marine sector due to the winning of contracts by rig-builder Sembcorp Marine lent support to the broad market. Sembcorp rose 2.7 percent.
Singapore's Straits Times Index <.FTSTI> ended at 3,249.58 on Tuesday. Technical signals pointed to a fall in Singapore stocks in the near term, with support at 3,220. A break of this would put the next target at 3,182.
Investors focused instead on increased price targets for Google
The Dow Jones industrial average <.DJI> rose 50.55 points, or 0.43 percent, to end at 11,837.93. The Standard & Poor's 500 Index <.SPX> added 1.78 points, or 0.14 percent, to 1,295.02. The Nasdaq Composite Index <.IXIC> gained 10.55 points, or 0.38 percent, at 2,765.85.
NYMEX-NEW YORK, Jan 18 (Reuters) - U.S. crude oil futures ended lower on Tuesday, pressured by the restart of the Trans Alaska Pipeline and as the International Energy Agency said some members of OPEC may have quietly raised production in response to prices nearing $100 a barrel.
In a monthly report, the IEA raised its global demand growth forecast for this year and the dollar weakened against the euro, both helping limit the day's losses for crude oil.
Trading volume was well below that of Friday's, when prices rose, as U.S. markets reopened after Monday's Martin Luther King holiday.
On the New York Mercantile Exchange, February crude
CBOT-CHICAGO, Jan 18 (Reuters) - Chicago Board of Trade grain and soy complex close on Tuesday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-JAKARTA, Jan 18 (Reuters) - Malaysian palm oil bounced from one-month lows hit earlier on Tuesday, as persistent worries that demand will outstrip supplies, buoyed prices.
The benchmark April 2011 crude palm oil contract
REGIONAL EQUITIES-BANGKOK, Jan 18 (Reuters) - Major Southeast Asian stock markets posted limited gains on Tuesday, with risk appetite weak across the region, but investors picked up stocks in companies expected to report good results, including Thailand's banks.
Investors turned cautious as euro zone finance ministers seemed to be in no rush to beef up their rescue fund, and some wanted to see the reaction in U.S. stocks to news Apple Inc
Stocks in Singapore <.FTSTI> ended up 0.34 percent, taking their lead from Chinese stocks <.SSEC>, which bounced off the day's low as strong bank earnings helped offset downward pressure from signs of a further clampdown on lending.
Singapore's volume remained weak at 0.9 times its 30-day average, similar to most in the region.
In Singapore, gains in the offshore and marine sector due to the winning of contracts by rig-builder Sembcorp Marine
Singapore's Straits Times Index <.FTSTI> ended at 3,249.58 on Tuesday. Technical signals pointed to a fall in Singapore stocks in the near term, with support at 3,220. A break of this would put the next target at 3,182.
Tuesday, January 18, 2011
Trader's Highlight
FCPO-JAKARTA, Jan 17 (Reuters) - Malaysian palm oil ended off one-month lows hit earlier on Monday as investors were worried that prices had overcooked the strong fundamentals in recent weeks. Palm oil rallied in recent weeks, driven by concerns that heavy rains have curbed Malaysian and Indonesian output and a dry spell may affect the Argentine soy crop. On Jan 4, prices touched 3,905 ringgit, a peak not touched since March 2008.
The benchmark April 2011 crude palm oil contract on Bursa Malaysia Derivatives fell as much as 0.7 percent to 3,618 ringgit ($1,183) per tonne, the lowest since Dec. 22. It rose 0.2 percent at the close. Overall, traded volume stood at 10,525 lots of 25 tonnes each, compared with 11,427 lots on
Friday. Earlier, prices had peaked at 3,685 ringgit, supported by export data and expectations that demand from emerging markets would outpace supplies in the coming months.
REGIONAL EQUITIES-BANGKOK, Jan 17 (Reuters) - Major Southeast Asian stock markets fell in thin volume on Monday, led by financials, plagued by China's latest attempt to contain inflation that added to caution about monetary tightening in the region.
Many investors were happy to stay on the sidelines ahead of a euro zone finance ministers' meeting later in the day at which there may be an agreement to beef up the zone's rescue fund.
Markets in Singapore <.FTSTI> and Thailand <.SETI> posted small losses, while stocks in Malaysia <.KLSE>, the Philippines <.PSI> and Vietnam <.VNI> gained, although volume in each fell short of the 30-day average.
Shares in Asia excluding Japan fell 0.67 percent <.MIAPJ0000PUS> by 0906 GMT, with a steep fall in Chinese stocks spooking other Asian markets.
Shares in Singapore lenders extended recent losses after the government introduced more measures to cool home prices, which dampened the outlook for loan growth. Top lender DBS Group Holdings fell 0.5 percent.
The benchmark April 2011 crude palm oil contract
Friday. Earlier, prices had peaked at 3,685 ringgit, supported by export data and expectations that demand from emerging markets would outpace supplies in the coming months.
REGIONAL EQUITIES-BANGKOK, Jan 17 (Reuters) - Major Southeast Asian stock markets fell in thin volume on Monday, led by financials, plagued by China's latest attempt to contain inflation that added to caution about monetary tightening in the region.
Many investors were happy to stay on the sidelines ahead of a euro zone finance ministers' meeting later in the day at which there may be an agreement to beef up the zone's rescue fund.
Markets in Singapore <.FTSTI> and Thailand <.SETI> posted small losses, while stocks in Malaysia <.KLSE>, the Philippines <.PSI> and Vietnam <.VNI> gained, although volume in each fell short of the 30-day average.
Shares in Asia excluding Japan fell 0.67 percent <.MIAPJ0000PUS> by 0906 GMT, with a steep fall in Chinese stocks spooking other Asian markets.
Shares in Singapore lenders extended recent losses after the government introduced more measures to cool home prices, which dampened the outlook for loan growth. Top lender DBS Group Holdings
Monday, January 17, 2011
Trader's Highlight
DJI-NEW YORK, Jan 14 (Reuters) - The S&P 500 ended a seventh straight week of gains with a banks-led rally amid healthy volume after encouraging financial results from JPMorgan.
Strength in financial stocks helped offset economic reports that showed soft December retail sales and consumer sentiment dented by rising gasoline prices. The market's resilience will be tested next week when a number of banks report results.
The Dow Jones industrial average <.DJI> added 55.48 points, or 0.47 percent, to 11,787.38. The Standard & Poor's 500 <.SPX> rose 9.48 points, or 0.74 percent, to 1,293.24. The Nasdaq Composite <.IXIC> gained 20.01 points, or 0.73 percent, to2,755.30.
NYMEX-NEW YORK, Jan 14 (Reuters) - U.S. crude oil prices ended up on Friday with their best percentage gain in six weeks, as earnings optimism on Wall Street overshadowed oil demand worries due to China's latest raising of bank reserve requirements.
Despite the gain, U.S. crude lagged well behind Brent crude, which ended at a 27-month high with its premium to benchmark West Texas Intermediate at a 23-month peak.
On the New York Mercantile Exchange, crude for February delivery settled up 14cents, or 0.15 percent, at $91.54 a barrel, after trading from $90.10 to $91.69.
CBOT-CHICAGO, Jan 14 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.
CBOT-SOYBEANS - March up 6-1/2 cents at $14.22-1/2 per bushel. January expired down 3-1/2 cents at $14.06-1/2. Late short-covering and evening up before the weekend lifted soy by the close. Underlying fundamentals remain bullish and overrode early pressure from profit-taking. Concern about the fate of Argentina's soybean crop due to weather problems also supportive.
CBOT-SOYOIL - March off 0.44 cent at 57.27 cents per lb. January expired down 0.60 cent per lb at 56.70. Following crude oil futures lower.
FCPO-KUALA LUMPUR, Jan 14 (Reuters) - Malaysian palm oil futures fell on Friday, ahead of export data that may show an improvement in demand at a time when supplies are tightening.
Vegetable oil supplies have been limited by heavy rains in palm oil-producing Indonesia and Malaysia and dry weather hitting soyoil-exporting Argentina, fuelling prices to multi-month highs and raising food shortage fears.
The benchmark March 2011 crude palm oil contract on Bursa Malaysia Derivatives ended down 0.4 percent to 3,680 Malaysian ringgit ($1,205) a tonne. Overall traded volume rose to 22,663 lots of 25 tonnes each, compared to the usual 15,000 lots.
REGIONAL EQUITIES-BANGKOK, Jan 14 (Reuters) - Major Southeast Asian bourses ended lower on Friday, with investors quickly cashing in gains in heavyweight financial stocks, and foreign money continued to flow out of the Philippines <.PSI>, Indonesia <.JKSE> and Thailand <.SETI> this week.
However, a late rebound brought Indonesia's Jakarta Composite Index <.JKSE> back into positive terrain on the day, with a rise of 0.12 percent, in falling volume of 0.65 times its average 30-day volume, similar to most markets in the region.
Indonesia fell 1.72 percent on the week, the worst in the region, ahead of a 1.68 percent loss in the Philippines. Singapore, Malaysia and Thailand drifted down on the week, reversing last week's gains.
In Singapore, trade was relatively active at 1.4 times its 30-day average. Property developers and banks fell after the government announced new measures to cool home prices.
CapitaLand, Southeast Asia's biggest developer, dropped 3.4 percent while DBS Group Holdings eased 0.8 percent.
Strength in financial stocks helped offset economic reports that showed soft December retail sales and consumer sentiment dented by rising gasoline prices. The market's resilience will be tested next week when a number of banks report results.
The Dow Jones industrial average <.DJI> added 55.48 points, or 0.47 percent, to 11,787.38. The Standard & Poor's 500 <.SPX> rose 9.48 points, or 0.74 percent, to 1,293.24. The Nasdaq Composite <.IXIC> gained 20.01 points, or 0.73 percent, to2,755.30.
NYMEX-NEW YORK, Jan 14 (Reuters) - U.S. crude oil prices ended up on Friday with their best percentage gain in six weeks, as earnings optimism on Wall Street overshadowed oil demand worries due to China's latest raising of bank reserve requirements.
Despite the gain, U.S. crude lagged well behind Brent crude, which ended at a 27-month high with its premium to benchmark West Texas Intermediate at a 23-month peak.
On the New York Mercantile Exchange, crude for February delivery
CBOT-CHICAGO, Jan 14 (Reuters) - Chicago Board of Trade grain and soy complex close on Friday.
CBOT-SOYBEANS - March
CBOT-SOYOIL - March
FCPO-KUALA LUMPUR, Jan 14 (Reuters) - Malaysian palm oil futures fell on Friday, ahead of export data that may show an improvement in demand at a time when supplies are tightening.
Vegetable oil supplies have been limited by heavy rains in palm oil-producing Indonesia and Malaysia and dry weather hitting soyoil-exporting Argentina, fuelling prices to multi-month highs and raising food shortage fears.
The benchmark March 2011 crude palm oil contract
REGIONAL EQUITIES-BANGKOK, Jan 14 (Reuters) - Major Southeast Asian bourses ended lower on Friday, with investors quickly cashing in gains in heavyweight financial stocks, and foreign money continued to flow out of the Philippines <.PSI>, Indonesia <.JKSE> and Thailand <.SETI> this week.
However, a late rebound brought Indonesia's Jakarta Composite Index <.JKSE> back into positive terrain on the day, with a rise of 0.12 percent, in falling volume of 0.65 times its average 30-day volume, similar to most markets in the region.
Indonesia fell 1.72 percent on the week, the worst in the region, ahead of a 1.68 percent loss in the Philippines. Singapore, Malaysia and Thailand drifted down on the week, reversing last week's gains.
In Singapore, trade was relatively active at 1.4 times its 30-day average. Property developers and banks fell after the government announced new measures to cool home prices.
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