188market-track

2012-02-16T19:26:00.000+08:00

DJ Asian Crude Palm Oil Ends Down On Greek Debt Worries (2012/02/16 18:59PM)

KUALA LUMPUR (Dow Jones)--Crude palm oil futures on Malaysia's derivatives exchange ended lower Thursday amid fresh concerns of a Greek debt default but declines were limited by increasing weather worries about Brazil's soy crop.
The benchmark May contract on the Bursa Malaysia Derivatives exchange ended MYR11 lower at MYR3,190 a metric ton after moving in a MYR3,169-MYR3,202 range.
March soyoil on the Chicago Board of Trade was trading 0.9% lower at 52.87 cents a pound by the end of trade on BMD.
"The market eased a tad on profit-taking in view of bearish macro cues," a trading executive at a foreign trading house said. "Based on technical cues, palm oil still has some upside momentum but it needs to break out from MYR3,200 to spur more buying."
Market participants have been keeping a close watch on soybean output in South America as any crop damage may see buyers substituting soyoil demand with palm oil, which could reverse a 1.1% drop in CPO prices so far this year.
Refined palm olein from Malaysian ports is now offered close to a discount of $100/ton to rival soyoil from Argentina, according to physical market data.
"CPO prices are likely to be sustained beyond the January-March low output season" on expectations for lower yields as oil palm trees rest after strong production in 2011, JP Morgan said in a note.
The investment bank raised average CPO prices to MYR3,200/ton from a previous forecast of MYR2,850/ton.
In the cash market, refined palm olein for February/March shipment was offered $5 lower at $1,087.50/ton while cash CPO for prompt shipment was offered MYR10 higher at MYR3,170/ton.
Open interest on the BMD was 126,571 lots, versus 126,857 lots Wednesday. One lot is equivalent to 25 tons.
A total of 28,879 lots of CPO were traded versus 23,479 lots Wednesday.
Closing BMD CPO futures prices in MYR/ton at 1000 GMT:

Month Close Previous Change High Low
Mar'12 3,175 3,180 -5 3,185 3,151
Apr'12 3,186 3,197 -11 3,198 3,166
May'12 3,189 3,201 -12 3,202 3,169
Jun'12 3,187 3,200 -13 3,197 3,168

2012-02-16T19:25:00.000+08:00

DJ Malaysian PM Cash Market Prices For Palm Oil - Feb. 16 (2012/02/16 18:51PM)

KUALA LUMPUR (Dow Jones)--The following are prices for Malaysian palm oil in the cash market at 1000 GMT Thursday, supplied by commodity broker Matthes & Porton Bhd.
Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgits a ton. Palm kernel oil prices are in ringgits a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports

Month Offer Change Bid Change Traded
Feb/Mar 1,072.50 -05.00 Unquoted - -
Apr/May/Jun 1,070.00 -07.50 Unquoted - -
Jul/Aug/Sep 1,067.50 -07.50 Unquoted - -
Oct/Nov/Dec 1,065.00 -10.00 Unquoted - -

RBD palm olein, FOB, Malaysian ports

Month Offer Change Bid Change Traded
Feb/Mar 1,087.50 -05.00 Unquoted - -
Apr/May/Jun 1,085.00 -07.50 Unquoted - -
Jul/Aug/Sep 1,082.50 -07.50 Unquoted - -
Oct/Nov/Dec 1,080.00 -10.00 Unquoted - -

RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Feb 975.00 00.00 Unquoted - -

Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Feb 780.00 -05.00 Unquoted - -

Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Feb 3,170 +10.00 Unquoted - -

Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Feb 240.00 00.00 Unquoted - -

($1=MYR3.0570)

2012-02-16T19:00:00.000+08:00

DJ MARKET TALK: Malaysian Shares End Off 0.7%;1543 N/T Floor-Dealer (2012/02/16 17:34PM)

0934 GMT [Dow Jones] Malaysian shares end 0.7% lower at 1550.49, weighed by declines in Asian markets amid concerns over Europe's debt crisis, with heavy selling in select blue chips, a local dealer says; "any fresh bearish developments from the euro-zone tonight could drag the index lower in the near term." He tips a support at 1543. Market breadth is negative with 647 losers to 231 gainers. Volume totaled 2.16 million shares. Among losers, Kuala Lumpur Kepong Bhd (2445.KU) ends down 2.3% at MYR24.80, Petronas Dagangan Bhd (5681.KU) slides 2.2% to MYR17.82 and Petronas Gas Bhd (6033.KU) falls 1.7% to MYR16.36. Among gainers, Genting Malaysia Bhd (4715.KU) ends up 0.3% at MYR3.96, Telekom Malaysia Bhd (4863.KU) rises 0.2% to MYR4.84 and Maxis Bhd (6012.KU) gains 0.2% to MYR5.77. (shie-lynn.lim@dowjones.com)

2012-02-16T17:02:00.000+08:00

DJ Asian Shares End Lower As Greek Debt Concerns Weigh (2012/02/16 17:27PM)

By Sarah Turner in Sydney and Nick Godt in Mumbai
MUMBAI (MarketWatch) - Asian shares fell Thursday, as investors fretted about the possibility of a messy Greek default, although Japanese shares found some support from a relatively weak yen.
The Australian S&P/ASX 200 index dropped 1.7% to 4181.90, South Korea's Kospi fell 1.4% to 1997.45, and Hong Kong's Hang Seng Index lost 0.4% to 21,277.28.
The Shanghai Composite Index also declined 0.4% to 2356.86 and Japan's Nikkei Stock Average declined 0.2% to 9238.10.
U.S. shares ended firmly lower on Wednesday, with minutes from the latest Federal Reserve interest-rate meeting dashing hopes for an imminent round of further quantitative easing and as uncertainty lingered over the prospects for debt-ridden Greece.
Several officials familiar with the negotiations said that some of Greece's euro-zone creditors were considering delaying Greece's full bailout package until after the country holds elections - expected to take place in April. At the same time, arrangements would be made to help the country avoid disorderly default.
Eurogroup President Jean-Claude Juncker said he was confident that Greece would get its next tranche of aid by Monday, on schedule.
"There's a lot of bad news out there that people have to take into account, and I think that people will take in this opportunity to lock in some gains," said Andrew Sullivan at Piper Jaffray.
"Europe should be worrying people," said Sullivan, adding however that "it's obvious that Greece can't afford to stay in the euro."
The dollar bought Y78.73 on Thursday in Asia, up from Y78.43 in late North American trading Wednesday.
The relatively weak yen helped some major Japanese exporters add to their recent advance, as Sharp Corp. climbed 1.1%, and Sony Corp. rose 0.9%.
However, Olympus Corp. lost 2.4% after the arrest of ex-chairman Tsuyoshi Kikukawa and other former executives Thursday in connection with the firm's accounting scandal.
Crude-oil prices, which rose during New York trading hours on Wednesday, helped lift Japan Petroleum Exploration Co. by 2.8%.
But a session of losses for copper futures in New York on Wednesday dented the Australian mining sector, with BHP Billiton Ltd. down 2.2% and rival Rio Tinto Ltd. down 2.3%.
Commodity-exposed firms were also weak in Hong Kong, with Jiangxi Copper Co. down 2.1%, and Aluminum Corp. of China Ltd. down 2.8%.
Resource-focused conglomerate Citic Pacific Ltd. fell 2.3%, while Zijin Mining Group Co. fell 3%.
China's central bank said Wednesday in its quarterly monetary-policy report that the country still faces the risk of slower growth and higher inflation and that it can't let its guard down against inflation risks.
"The (People's Bank of China) report that came out overnight should be taken very, very seriously. China is seriously worried about inflation and there is a risk there that it will raise interest rates," said Sullivan.
"The fact that they say they are going to maintain prudent policy, they are going to maintain tight monitoring of local-government debt - that's going to be negative for the banks," he said.
Banks trading lower in Hong Kong on Thursday included Bank of China Ltd., down 1.5%; and HSBC Holdings PLC off 0.6%.
Moody's Investors Service said Wednesday it was placing more than 100 financial firms in 16 European countries on review for possible downgrades, highlighting the region's banks' vulnerability to the euro-zone sovereign debt crisis.
The global capital markets "are confronting evolving challenges, such as more fragile funding conditions, wider credit spreads, increased regulatory burdens and more difficult operating conditions," Moody's said.
Earnings were also hitting the Australian banking sector, with retail banking giant Westpac Banking Corp. down 3.5% after posting a drop in first-quarter net profit.
Diversified financial firm AMP Ltd. fell 2.3% after reporting a lower fiscal-year net profit.

2012-02-16T17:01:00.000+08:00

DJ China Soybean Futures Fall On Strong Dollar; Greek Worries Weigh (2012/02/16 16:23PM)

BEIJING (Dow Jones)--Soybean futures on the Dalian Commodity Exchange closed lower in a broad decline Thursday, as the dollar rose amid renewed Greek debt fears, damping appetite for dollar-denominated commodities.
The most actively traded September soybean contract settled 0.4% lower at CNY4,399 a metric ton, the lowest in almost two weeks.
The broad-based decline was led by copper, which closed 2.2% lower.
A Chinese trade delegation signed agreements in Iowa to purchase 8.62 million metric tons from the U.S. in a deal valued at $4.31 billion, the Ministry of Commerce said Thursday.
Traders said they expect the delegation to sign more soybean deals when it reaches Los Angeles.
"Soybean's supply-demand fundamentals remain weak in the domestic market," Maike Futures analyst Ma Feng said.
China's domestic market has been oversupplied, he said, referring to high port stocks and sluggish demand for soymeal and soyoil.
Thursday settlement prices in yuan a ton for benchmark contracts:
Product Contract Settlement Price Change
Soybean Sep 2012 4,399 Down 19
Corn Sep 2012 2,365 Down 9
Soymeal Sep 2012 3,021 Down 13
Palm Oil Sep 2012 8,214 Down 70
Soyoil Sep 2012 9,254 Down 72

2012-02-16T13:05:00.000+08:00

DJ MARKET TALK: BMD CPO Down Midday Along With Other Commodities (2012/02/16 13:39PM)

0539 GMT [Dow Jones] BMD CPO futures are lower midday, tracking broad-based selling in commodities and equities, as ongoing worries about the Greek debt crisis damp investor sentiment; "the market is seeing a bit of profit-taking and is consolidating after the recent sharp price rise," a trading executive in Mumbai says; "technically, palm oil still has some upside momentum, but it needs to break out from MYR3,200 to spur more buying," he adds. New benchmark May CPO is down 0.6% at MYR3,182/ton. CBOT March soyoil is down 1.1% at 52.78 cents/lb in screen trade. (shie-lynn.lim@dowjones.com)

2012-02-16T13:04:00.000+08:00

0455 GMT [Dow Jones] The Nikkei is off 0.1% at 9248.86 vs 9235.89 midday. "Overall volume levels are robust, but stocks are short-term overbought, and this is continuing to invite selling for now," says Masatoshi Sato, senior strategist at Mizuho Investors Securities. "There is not a great deal of fear of much more yen strengthening. Rather, signs of yen weakening, especially vs the dollar, remain an important potential catalyst for bulls." 19/33 subindexes are negative; Fanuc (6954.TO) and Fast Retailing (9983.TO) continue to drag on the Nikkei, off 0.4% at Y13,960 and off 1.1% at Y15,940, after recent strong runups. Heretofore laggards KDDI (9433.TO) and Softbank (9984.TO) are supporting the downside, up 3.4% at Y513,000 and up 1.0% at Y2,412. Utilities shares are higher, following a local press report that the ruling Democratic Party of Japan (DPJ) will move toward re-starting nuclear power plants currently idled for inspection; Tepco (9501.TO) is up 4.3% at Y218. Shin-Etsu Chemical (4063.TO) is leading chip-related firms higher, up 3.1% at Y4,285. (bradford.frischkorn@dowjones.com)

2012-02-16T12:54:00.000+08:00

DJ MARKET TALK: KLCI Down 0.7%; 1545 Support Tipped (2012/02/16 12:59PM)

0459 GMT [Dow Jones] The KLCI is down 0.7% midday at 1549.91 tracking declines in Asian stock markets on fresh concerns over Europe's debt crisis; 25 out of the 30 benchmark stocks are lower, weighing on sentiment in the broader market. "In the short term the current consolidation could continue because of the external risks and volatility will be high on a daily basis," says a local analyst. The current 1545 support level will likely hold for the day, with next support tipped at 1538. Market breadth sees losers outnumbering gainers more than three-to-one with 1.14 billion shares changing hands. Among losers, CIMB Group (1023.KU) is down 0.8% at MYR7.24, Sime Darby (4197.KU) is down 0.9% at MYR9.52 and DiGi.com (6947.KU) is down 1.2% at MYR4.11 (jason.ng@dowjones.com)

2012-02-16T10:20:00.000+08:00

DJ Malaysian AM Cash Market Prices For Palm Oil - Feb. 16 (2012/02/16 12:42PM)

KUALA LUMPUR (Dow Jones)--The following are prices for Malaysian palm oil in the cash market at 0430 GMT Thursday, supplied by commodity broker Matthes & Porton Bhd.
Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgits a ton. Palm kernel oil prices are in ringgits a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports

Month Offer Change Bid Change Traded
Feb/Mar 1,070.00 -07.50 Unquoted - -
Apr/May/Jun 1,070.00 -07.50 Unquoted - -
Jul/Aug/Sep 1,067.50 -07.50 Unquoted - -
Oct/Nov/Dec 1,065.00 -10.00 Unquoted - -

RBD palm olein, FOB, Malaysian ports

Month Offer Change Bid Change Traded
Feb/Mar 1,085.00 -07.50 Unquoted - -
Apr/May/Jun 1,085.00 -07.50 Unquoted - -
Jul/Aug/Sep 1,082.50 -07.50 Unquoted - -
Oct/Nov/Dec 1,080.00 -10.00 Unquoted - -

RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Feb 975.00 00.00 Unquoted - -

Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Feb 785.00 00.00 Unquoted - -

Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Feb 3,165 +05.00 Unquoted - -

Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Feb 240.00 00.00 Unquoted - -

($1=MYR3.0535)

2012-02-16T10:08:00.000+08:00

DJ MARKET TALK: BMD CPO Futures Tipped Higher At Open; Resistance MYR3,230 (2012/02/16 10:16AM)

0216 GMT [Dow Jones] BMD CPO futures are tipped to open MYR5-MYR10 higher on persistent concerns about dry weather hurting soybean crops in Brazil, a Kuala Lumpur-based trading executive says. However, a warning from Moody's that it could downgrade 17 global banks and securities firms could limit the upside, she says. Traders are seeking any clues to soybean output in South America because any reduction may see buyers turn to palm oil. Immediate resistance is MYR3,230/ton, brokers say. Benchmark April CPO ended 0.2% lower at MYR3,197/ton Wednesday. (shie-lynn.lim@dowjones.com)

2012-02-16T09:22:00.000+08:00

DJ US GRAIN AND SOY REVIEW: Soy Rallies On China Exports, Brazil Crop (2012/02/16 05:25AM)

--Soybeans end higher on China demand, Brazil crop
--Soybeans hit four-month high
--Corn, wheat slip on ample world-grain supplies
By Ian Berry
Of DOW JONES NEWSWIRES

CHICAGO (Dow Jones)--U.S. soybean futures extended their recent rally Wednesday, ending higher on rising export demand and increasing worries about Brazil's crop.
The market climbed to a fresh four-month high before trimming gains on pressure from corn and wheat prices. Chicago Board of Trade soybeans for March delivery ended up six cents at $12.61 per bushel. Soybean prices are up 2.7% since Feb. 9.
CBOT corn, meanwhile, stumbled during the session, with the March contract falling 6 1/2 cents to $6.27 per bushel. CBOT March wheat ended down nine cents to $6.26 per bushel. Both markets hit three-week lows.
Soybeans have been grabbing the headlines in the grain and oilseed complex over the past few days, due in large part to an increase in export demand. The U.S. Department of Agriculture announced fresh soybean export sales for the third straight day Wednesday, with a new sale of 116,000 metric tons to China for the current marketing year.
Traders also were waiting for another announcement Wednesday stemming from a Chinese government delegation's visit to Iowa. China and the U.S. have announced export deals on similar visits in the past, although analysts said the sales may not necessarily change the market's outlook.
The increasing export demand is in part a result of hot, dry weather in South America, particularly Brazil, that is hurting the crop there. Crop forecasters have been lowering their soybean projections from Brazil in recent days.
"There isn't any good news coming out of South America on their new crop," ABN Amro said in a Wednesday report to clients.
Soybeans' recent strength versus corn futures could lead to more U.S. soybean acreage than many traders have assumed, as the financial advantage to planting corn rather than soybeans diminishes.
Corn and wheat prices have sagged at a time of abundant wheat supplies. The USDA and International Grains Council see world wheat stockpiles ballooning to a record high this year. A larger wheat crop means livestock producers can more easily feed wheat rather than corn to their animals if needed.
"The idea that this world wheat crop continues to get larger weighs on wheat as well as corn," said Dave Marshall, an independent broker and advisor in southern Illinois.
Corn's losses accelerated after the market fell below a recent trading range, triggering technical selling, analysts said.
Traders see more potential upside for the corn market, but likely not until a clearer picture of the U.S. planting season starts to emerge. Damage to the South America crop, which rallied corn prices last month, already has been factored into the market, traders said.
Other Markets

US rice futures ended slightly lower as a lack of demand continues to hang over the market. Rice prices retreated after briefly climbing to a fresh two-week high as large world supplies and weak demand for U.S. rice, both domestically and internationally, persist.
CBOT March rice ended down four cents at $14.34 1/2 per hundredweight.
Wheat prices in Kansas City joined Chicago futures in sliding, with KCBT March wheat down 5 1/2 cents to $6.70. MGEX March wheat closed down one cent to $8.11.
CBOT March soybean oil climbed 0.33 cent to 53.35 cents per pound, and March soybean meal gained $2.70 to $332.80 per short ton.

2012-02-16T09:13:00.000+08:00

DJ MARKET TALK: Malaysia Shares May Fall; 1555 Support Tipped (2012/02/16 08:53AM)

0053 GMT [Dow Jones] Malaysia shares may fall, tracking weakness on Wall Street amid renewed concerns over the European debt crisis. Analysts say the benchmark KLCI will likely retreat towards immediate support at 1555 as consolidation continues in the market. "While news headlines from Greece could hit sentiment, the KLCI could show some resilience given that fundamentals remains strong," says a local analyst. "Activities of second liners and small caps aren't enough to drive the market but interest in heavyweights could pick up in the weeks ahead with the earnings results coming in," he adds. The KLCI ended Wednesday down 0.3% at 1561.30. (jason.ng@dowjones.com)

2012-02-16T09:12:00.000+08:00

DJ MARKET TALK: STI Likely Down; 3000 May Not Offer Much Support (2012/02/16 08:41AM)

0041 GMT [Dow Jones] The STI's long-sought perch over 3000 may be shaky at best, with the index likely to fall, tracking weakness on Wall Street amid fresh Greece concerns. "Suffice to say if 'Greece' appears in a headline, the knee-jerk reaction is to sell risk and try to figure things out later. To wit, news that Eurozone finance ministers might delay parts or all of a second bailout until after a Greek election in April, weighed on risk sentiment, even if few knew how to clearly interpret the statement," says David Watt, senior currency strategist at RBC Dominion Securities, in a note. But data showing Singapore's 4Q GDP contracted less than originally estimated may provide support. First support is likely at 3000, crossed on high volume Wednesday, when the STI ended +0.8% at 3011.68; next support at the 10-day moving average around 2961 likely won't be troubled. Data showing January private-home sales nearly tripled on month will put property plays in focus. Singapore Airlines (C6L.SG) may be in focus after January load factors fell on year. (leslie.shaffer@dowjones.com)

2012-02-15T19:11:00.000+08:00

DJ Asian Crude Palm Oil Ends Off Lows As CBOT Soyoil Rebounds (2012/02/15 19:09PM)

KUALA LUMPUR (Dow Jones)--Crude palm oil futures on Malaysia's derivatives exchange ended off lows Wednesday, with weather worries in South America and a recovery in Chicago soyoil futures limiting declines.
The benchmark April contract on the Bursa Malaysia Derivatives exchange ended 0.2 lower at MYR3,197 metric ton after moving between positive and negative territory.
March soyoil on the Chicago Board of Trade was trading 0.4% higher at 53.22 cents a pound by the end of trade on BMD.
"Investor sentiment turned positive after China indicated its support to Europe, which helped Malaysian palm oil pare losses," a vegoil exporter in Johor said. "On the demand side, CPO shipments have improved in the current period, which lent support."
Data from cargo surveyor SGS (Malaysia) Bhd. put CPO shipments during the first 15 days in February at 31,796 tons, compared with a mere 4,000 tons shipped during the Feb. 1-10 period.
Exporters said the increase was a result of Malaysia issuing a quota for duty-free export of some 3.6 million tons of crude palm oil, after several weeks of delay.
"The resumption of CPO shipments may help draw down high stockpiles at Malaysian ports," a physical market broker in Kuala Lumpur said.
End-January palm oil stocks were 2.01 million tons, the Malaysian Palm Oil Board said in a Feb. 10 crop report.
In the cash market, refined palm olein for February/March shipment was offered at $1,092.50/ton while cash CPO for prompt shipment was offered at MYR3,160/ton.
Open interest on the BMD was 126,857 lots, versus 122,792 lots Tuesday. One lot is equivalent to 25 tons.
A total of 23,479 lots of CPO were traded versus 25,490 lots Tuesday.
Closing BMD CPO futures prices in MYR/ton at 1000 GMT:

Month Close Previous Change High Low
Feb'12 3,153 3,160 -7 3,153 3,130
Mar'12 3,180 3,190 -10 3,200 3,176
Apr'12 3,197 3,205 -8 3,213 3,182
May'12 3,201 3,206 -5 3,215 3,185

2012-02-15T18:55:00.000+08:00

DJ DATA SNAP: Malaysia 4Q GDP 5.2% On Year; Economists Expected 4.8% (2012/02/15 18:00PM)

KUALA LUMPUR (Dow Jones)--Malaysia's economy expanded a faster-than-expected 5.2% in the fourth quarter, supported by strong domestic demand, data released Wednesday showed.
The median forecast in an earlier Dow Jones Newswires poll of 11 economists had tipped growth at 4.8% on year, a slower rate of expansion that the third quarter's 5.8% pace.
For the whole of 2011, Malaysia's economy grew 5.1%, within the government's 5.0%-5.5% forecast range but more slowly than the 7.2% in 2010. The government forecasts the trade-driven economy to grow between 5.0% and 6.0% this year.
The following are selected economic indicators released by the central bank. 4th Qtr 3rd Qtr
Gross Domestic Product +5.2% +5.8%
Manufacturing +5.2% +5.3%
Services sector +6.4% +7.0%
Mining sector -3.3% -6.1%
Agriculture sector +6.9% +8.2%
Private Sector Consumption +7.1% +7.3%
Public Sector Consumption +23.6% +21.7%

2012-02-15T18:54:00.000+08:00

DJ Malaysian PM Cash Market Prices For Palm Oil - Feb. 15 (2012/02/15 18:40PM)

KUALA LUMPUR (Dow Jones)--The following are prices for Malaysian palm oil in the cash market at 1000 GMT Wednesday, supplied by commodity broker Matthes & Porton Bhd.
Prices are quoted in U.S. dollars a metric ton, except for crude palm oil and palm kernel oil, which are in ringgits a ton. Palm kernel oil prices are in ringgits a pikul, a Malaysian measurement equivalent to 60 kilograms.
Refined, bleached and deodorized palm oil, FOB, Malaysian ports

Month Offer Change Bid Change Traded
Feb/Mar 1,077.50 00.00 Unquoted - -
Apr/May/Jun 1,077.50 +02.50 Unquoted - -
Jul/Aug/Sep 1,075.00 +02.50 Unquoted - -
Oct/Nov/Dec 1,075.00 - Unquoted - -

RBD palm olein, FOB, Malaysian ports

Month Offer Change Bid Change Traded
Feb/Mar 1,092.50 00.00 Unquoted - -
Apr/May/Jun 1,092.50 +02.50 Unquoted - -
Jul/Aug/Sep 1,090.00 +02.50 Unquoted - -
Oct/Nov/Dec 1,090.00 - Unquoted - -

RBD palm stearin, FOB, Malaysian ports
Offer Change Bid Change Traded
Feb 975.00 -05.00 Unquoted - -

Palm Fatty Acid Distillate, FOB Malaysian ports
Offer Change Bid Change Traded
Feb 785.00 -05.00 Unquoted - -

Crude palm oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Feb 3,160 -20.00 Unquoted - -

Palm kernel oil, Delivered Basis, South Malaysia
Offer Change Bid Change Traded
Feb 240.00 -02.00 Unquoted - -

($1=MYR3.0340)

2012-02-15T18:52:00.000+08:00

DJ MARKET TALK: Malaysian Shares End Off 0.3%; 1555-1569 N/T Range (2012/02/15 17:53PM)

0953 GMT [Dow Jones] Malaysian shares finish 0.3% lower at 1561.30 amid selling in select industrial products and construction stocks. "Investors are taking profit on their short term gains," says a local dealer, adding that the market will probably move sideways as investors will be scrutinizing corporate results in coming weeks for fresh cues. He tips the index in a near term range of 1555-1569. Market breadth is positive with 421 gainers to 375 losers. Volume totaled 2.28 million shares. Among losers, Hong Leong Bank Bhd (5819.KU) ends down 0.7% at MYR11.62, MMC Corp. Bhd (2194.KU) falls 1.4% to MYR2.86 and Petronas Chemicals Group Bhd (5183.KU) slips 0.6% to MYR6.94. Among gainers, DiGi.com Bhd (6947.KU) ends up 1.5% at MYR4.16, Telekom Malaysia Bhd (4863.KU) rises 0.4% to MYR4.83 and British American Tobacco (Malaysia) Bhd (4162.KU) gains 1.4% to MYR52.48. (shie-lynn.lim@dowjones.com)

2012-02-15T17:44:00.000+08:00

DJ Asian Shares End Mostly Up; Tokyo, HK Markets Hit 6-Month Highs (2012/02/15 17:49PM)

By Sarah Turner in Sydney and Nick Godt in Mumbai
MUMBAI (MarketWatch) - Asian stocks surged on Wednesday, with Japan and Hong Kong's main benchmarks hitting six-month highs, after China indicated plans to expand its support to Europe as the region grapples with debt woes.
The Nikkei Stock Average rallied 2.3% to 9260.34, while Hong Kong's Hang Seng Index jumped 2.1% to 21,365.23, their highest closing levels since August last year,
The Shanghai Composite Index gained 0.9% to 2366.70, the South Korean Kospi climbed 1.1% to 2025.32, while Australia's S&P/ASX 200 index rose 0.3% to 4253.40.
U.S. shares had ended Tuesday mostly unchanged, with stocks staging a late recovery from early losses related to weak retail sales figures.
"(U.S. stocks) were prevented from registering deeper losses following news that Greece will commit to austerity measures," said strategists at Credit Agricole.
Supportive news concerning Europe also emerged in Asia on Wednesday, as People's Bank of China Governor Zhou Xiaochuan said he believes the euro zone's challenges can be solved and that China will expand its investments in Europe.
"We saw a big spike" after the Chinese central bank governor "came out and said they are going to take an even larger role in Europe's recapitalization," said Peter Esho, strategist at City Index; "the market just got a lot of confidence from that."
Japanese exporters rallied as the dollar extended its surge against the yen overnight, prompted by Tuesday's surprise monetary easing from the Bank of Japan.
The dollar traded at Y78.49, up from Y77.45 late Tuesday.
Among export-sector gainers Wednesday were Toyota Motor Corp., up 4.6%, Honda Motor Co. 3.3% higher and Sony Corp. rocketing ahead by 5.7%.
The Hong Kong market got a boost as property firms extended a rebound from losses at the start of the week, with Sun Hung Kai Properties Ltd. climbing 4.3%, Hang Lung Properties Ltd. trading up 3.4%, and Sino Land Co. gaining 4%.
The gains in Japan were even made against notable losses for several firms.
Yahoo Japan Corp. fell 3.7% after the Wall Street Journal reported that Yahoo's bid to sell a large portion of its stakes in Asian Internet companies Alibaba Group Holding Ltd. and Yahoo Japan was off the table.
Yahoo owns about 40% of Alibaba.com - shares of which remained in a trading halt Wednesday - and 35% of Yahoo Japan, while Softbank, which traded up 0.4%, also holds a stake.
Shares of Elpida Memory Inc. plunged 14.4% in Tokyo after the firm said Tuesday that talks to secure capital to ease the company's debt burdens weren't going smoothly.
Elpida had been in negotiations with the Japanese government and other entities, but said in its most recent statement that "material uncertainty about its assumed going concern is found."
Elpida - the world's No. 3 DRAM maker - saw its two larger rivals advance in Seoul, as Samsung Electronics Co. gained 5.1%, and Hynix Semiconductor Inc. rose 5.3%.
In Australia, earnings and guidance statements provided some support, with Commonwealth Bank of Australia up 0.5% after posting a higher first-half profit, and investment firm Perpetual Ltd. up 7.2% after it lifted its profit guidance.
However, energy and material firms dragged, with Aquarius Platinum Ltd. falling 6.5%, and Rio Tinto Ltd. trading down 0.6%.

2012-02-15T15:37:00.002+08:00

DJ China Soybean Futures Fall On Profit-Taking, Technical Resistance (2012/02/15 17:14PM)

BEIJING (Dow Jones)--Soybean futures on the Dalian Commodity Exchange fell Wednesday after technical resistance prompted profit-taking following a rally in the previous session.
The most actively traded September soybean contract settled 0.3% lower at CNY4,418 a metric ton.
The DCE benchmark soybean futures contract is facing strong technical resistance at CNY4,450/ton.
Concerns over soybean output in South America sent the benchmark contract to CNY4,433/ton Tuesday, its highest level in more than 14 weeks.
China's soybean imports for the 2011-12 marketing year that began Oct. 1 will likely hit 55 million tons, the state-backed China National Grain and Oils Information Center said Wednesday, down 1 million tons from its January estimate.
"China's auction of reserve soybeans and high port stocks will curb demand for imported products," the CNGOIC said.
The country will likely import 3.97 million tons of soybeans in February, down 14% from January. First-quarter soybean imports may reach 12.6 million tons, it said.
Wednesday's settlement prices in yuan a ton for benchmark contracts:
Product Contract Settlement Price Change
Soybean Sep 2012 4,418 Down 15
Corn Sep 2012 2,374 Down 9
Soymeal Sep 2012 3,034 Down 5
Palm Oil Sep 2012 8,284 Up 8
Soyoil Sep 2012 9,326 Down 10

2012-02-15T15:37:00.001+08:00

DJ Malaysia Feb. 1-15 Palm Oil Exports 494,298 Tons, Down 14% -SGS (2012/02/15 15:35PM)

KUALA LUMPUR (Dow Jones)--Malaysia's palm oil exports in the first 15 days of February fell 14% from a month earlier to 494,294 metric tons, cargo surveyor SGS (Malaysia) Bhd. said Monday.
Another surveyor, Intertek Agri Services, estimated earlier in the day that Feb. 1-15 exports fell 14% to 509,107 tons.
The following are the major items in the SGS estimate:
(All figures in metric tons)
Feb. 1-15 Jan. 1-15
RBD Palm Olein 257,920 319,042
RBD Palm Oil 56,968 52,123
RBD Palm Stearin 40,820 56,985
Crude Palm Oil 31,796 40,640
Total* 494,298 575,833

Major importers of Malaysian palm oil:

European Union 53,776 48,759
China 130,950 153,519
U.S. 61,314 30,875
India 25,000 36,000
Pakistan 6,500 39,240

2012-02-15T14:35:00.000+08:00

DJ MARKET TALK: BMD CPO Falls On Weaker Demand; MYR/3,100 Seen Possible (2012/02/15 14:11PM)

0611 GMT [Dow Jones] BMD CPO futures slip, reflecting weaker export demand and tracking a decline in CBOT soyoil during Asian trading. "Exports numbers are disappointing and we expect Malaysia's benchmark prices to fall further to MYR3,100/ton if demand does not pick up in the second half [of February]," a vegoil importer in Mumbai says. A sharp fall in export demand may offset weaker production in Malaysia and keep stockpiles around 2 million tons, a psychological benchmark. Malaysian Feb. 1-15 palm oil exports fell 14% from a month earlier, cargo surveyor Intertek Agri Services said. Private surveyor SGS issues its Feb. 1-15 export estimate later in the day. Benchmark April CPO is down 0.4% at MYR3,191/ton; CBOT March soyoil is down 0.2% at 52.92 cents/lb. (shie-lynn.lim@dowjones.com)

2012-02-15T13:03:00.000+08:00

DJ MARKET TALK: Singapore''s STI +0.8%;Test Of 3000-3030 Tipped-CIMB (2012/02/15 13:20PM)

0520 GMT [Dow Jones] Singapore's STI rises 0.8% to 3012.51, tracking broad gains around the region, with only four components not rising. News PBOC Gov. Zhou Xiaochuan pledged the country's central bank would increase its holdings of euro-denominated assets and reiterated China will increase its EFSF involvement boosted Hong Kong shares, says Raymond Ng, a dealer at UOB-KayHian, adding that Singapore shares then took their cue to rally above the key 3000 resistance. But he says the rally is concerning, as such a quick rise may indicate a sharp drop ahead. In a note, CIMB technical analysis tips a break above 2995 will spur a test of the 3000-3030 zone. Volume is brisk at 1.59 billion shares valued at S$1.26 billion, suggesting bigger-cap stocks are getting more play; gainers top losers nearly three to one. Olam (O32.SG) falls 1.2%; Ng says the decline is likely due to earnings showing some margin weakness. Sakari (AJ1.SG) jumps 5.1% and STX OSV (MS7.SG) climbs 10.4% as their earnings topped expectations. (leslie.shaffer@dowjones.com)

2012-02-15T13:02:00.000+08:00

0416 GMT [Dow Jones] Gold prices are in a holding pattern and need a catalyst to help them break out of their current range, UOB KayHian senior analyst Helen Lau says. Spot gold is trading at $1,724.50 a troy ounce, up $3.40 from its previous settlement; it has traded no higher than $1,725.44/oz and no lower than $1,718.30/oz so far. While gold is range-bound at the moment, it remains very well supported above $1,700/oz by Asian physical demand and lingering concerns over the euro-zone debt crisis, traders say. Lau tips $1,800/oz as a robust resistance level, but cautions that any major risk-off move due to the euro-zone debt crisis could affect gold alongside risky assets. "If the situation in Europe blows up and they can't resolve things, then you're going to see everything retrace," she says. Later Wednesday, gold will take its cue from a EU finance ministers' teleconference, during which politicians will discuss Greece's EUR130 billion bailout package.(clementine.wallop@dowjones.com)

2012-02-15T13:00:00.000+08:00

0406 GMT [Dow Jones] The HSI is up 2.0% at 20,330.65 at midday, decisively breaking out from its 20,600-21,000 trading range held for the past nine days and resuming its year-to-date risk-on uptrend. The intraday peak of 21,331.02 sets a 6-month high, and a short-term target is likely at 21,700, being the upper end of the falling gap formed in early August 2011, says Daniel So, strategist at SHK Financial. Hong Kong developers lead blue chips' rally, on expectations of a recovery in the local property market; Henderson Land (0012.HK) jumps 5.5% to HK$47.90--the best-performing index member for the second day in a row; SHK Properties (0016.HK) zooms 4.3% higher to HK$118.70. Another outperformer is HKEx (0388.HK), rallying 3.4% to HK$146.30 on market volume-spike, with HK market volume at HK$41.50 billion at the interval, vs HK$29.13 billion at Tuesday's half-day break. (robert.li@dowjones.com)

2012-02-15T12:59:00.000+08:00

0418 GMT [Dow Jones] The Nikkei is up 2.0% at 9233.89, on pace for its best percent gain since late November, after hitting an intraday high of 9248.48, its highest level since Aug. 5. SMBC Nikko Securities strategist Masashi Akutsu says that while the BOJ's monetary easing announced Tuesday is contributing to improve overall market sentiment and to weaken the yen (USD/JPY now at 78.50, EUR/JPY at 103.32), higher Asian bourses are helping push the index up further, noting that Taiwan and Shanghai bourses are each up more than 1.0%. Hong Kong is also up nearly 2.0%. "The weaker yen is benefiting exporters, including autos, while hopes for further easing are lifting cyclical stocks such as real estate and financials," Akutsu adds. All 33 Topix subindexes are positive; Toyota Motor (7203.TO) is up 3.8% at Y3,240 and Honda Motor (7267.TO) is up 3.1% at Y2,884. Mitsui Fudosan (8801.TO) is up 4.6% at Y1,434 and Nomura Holdings (8604.TO) is up 5.4% at Y335. (miyuki.seguchi@dowjones.com)