FKLI Related News (Fri, Apr 5)

NEW YORK, April 4 (Reuters) - U.S. stocks ended slightly higher on Thursday after the Bank of Japan announced aggressive, market-lifting policies to jump-start its economy, but weak U.S. jobs data capped gains. The BOJ's surprisingly dramatic stimulus plan came along with supportive comments from European and Federal Reserve officials, suggesting central bank policies will keep underpinning the world's economy to the benefit of stocks. The iShares MSCI Japan Index exchange-traded fund jumped 4 percent to $10.89, while U.S.-listed shares of Toyota Motor climbed 4.7 percent to $105.63 and WisdomTree Japan ETF jumped 7.5 percent to $43.88. The financial sector was among the best performing, with the S&P 500 financial index up 0.9 percent.

A report on Wednesday showed U.S. companies hired at the slowest pace in five months in March. The Dow Jones industrial average was up 55.76 points, or 0.38 percent, at 14,606.11. The Standard & Poor's 500 Index gained 6.29 points, or 0.40 percent, at 1,559.98. The Nasdaq Composite Index was up 6.38 points, or 0.20 percent, at 3,224.98. The S&P 500 is up 9.4 percent since the start of the year. Shares of Facebook rose 3.1 percent to $27.07 in heavy volume after it unveiled a new family of phone applications that will let users display mobile versions of their newsfeed and messages on the home screen of a wide range of devices based on Google's Android system. Analysts said the move could divert users from Google's services. Its shares fell 1.4 percent to $795.07.

The jobless claims data was the latest bit of disappointing economic news. Jobless claims jumped to 385,000 in the latest week, confounding expectations that claims would drop by 7,000 to 350,000. Friday's Labor Department report is expected to show 200,000 jobs were created last month, according to a Reuters survey. The unemployment rate is expected to remain at 7.7 percent.

Stocks on Bursa Malaysia continued to see-saw between negative and positive territory for the second day yesterday with the outcome of the 13^th general election (GE) weighing on the minds of investors. The FBM KLCI touched an intra-day high of 1,700.55 before falling back to finish the morning session at 1,685.19, but managed to regain some ground at the closing bell to end the day in positive territory at 1,688.46. FKLI spot month contract opened slightly higher this morning at 1,684.50 following modest gains in U.S. stocks after Bank of Japan unleashes massive stimulus plan.

Today’s Support and Resistance for April contract is located around 1,660 and 1,690 respectively.

FCPO Related News (Thurs, Apr 4)

Palm oil futures on Malaysia’s derivatives exchange end higher after choppy trade, tracking soyoil gains on the Dalian Commodity Exchange as investors cover positions ahead of a two-day holiday in China, says a senior dealer at a brokerage in Kuala Lumpur; tips palm oil to trade in a range of MYR2,350/ton to MYR2,420/ton for the rest of the week in the absence of any fresh catalysts.                                          [Dow Jones Newswire]

SINGAPORE, April 3 (Reuters) - Malaysian palm oil futures ended higher on Wednesday as expectations of lower palm oil stocks offset weak overseas soy markets. Soybean prices have lost 1 percent so far this week and could face further pressure as port congestion in Brazil started to ease and the country's shipments are likely to increase in coming weeks, Hamburg-based oilseeds analysts Oil World said. A higher supply of soybeans to be crushed into vegetable oil could shift some demand away from competing palm oil.

But market participants remain hopeful for prices to be supported by an easing in Malaysia's March palm oil inventory, following lower production and improving export data. By market close, the benchmark June contract on the Bursa Malaysia Derivatives Exchange had edged up 0.6 percent to 2,396 ringgit ($778) per tonne. Prices fell as low as 2,335 ringgit on Monday, the lowest in almost three months. "The market should still be trading in a range between 2,350 and 2,400 ringgit. Today it opened lower because of the weaker soy markets," said a trader with a foreign commodities brokerage in Malaysia. "On the local front it's still supportive, as production and stocks are expected to be lower."  

 

Total traded volume stood at 31,672 lots of 25 tonnes each, slightly lower than the average 35,000 lots seen this year. Technical analysis showed palm oil is expected to revisit its Monday low of 2,335 ringgit, as it may have completed a rebound from this level, said Reuters market analyst Wang Tao.  Cargo surveyor data showed better exports in March than February, marking the first monthly rise in four months, boosted by higher shipments of refined products. Malaysia's stock market lost more than 3 percent in early Wednesday trade following Prime Minister Najib Razak's announcement that paved the way for a long-anticipated general election, but traders said it should not have the same impact on palm oil futures.       

   

In other markets, Brent crude oil slid towards $110 a barrel on Wednesday as oil stockpiles swelled in top oil consumer the United States, where a struggling economy is limiting demand for fuel. In vegetable oil markets, U.S. soyoil for May delivery  edged up 0.1 percent in early Asian trade. The most active September soybean oil contract on the Dalian Commodities Exchange inched up 0.2 percent.      [Reuters]

Today’s Support and Resistance for benchmark June contract is located around 2,360 and 2,400 respectively.

FKLI Related News (Thurs, Apr 4)

NEW YORK (Reuters) - Stocks fell on Wednesday, with the S&P 500 index posting its biggest daily decline in more than a month, after a weaker-than-expected survey of private employers raised concerns about the strength of the economy. News the Pentagon was sending a missile defense system to Guam in the coming weeks and remarks by Defense Secretary Chuck Hagel that North Korea posed a "real and clear" danger added to investor caution.

The ADP National Employment report on private-sector jobs showed less-than-expected hiring in March, which was a worrying sign for investors before the Labor Department's March non-farm payrolls report on Friday. Wednesday's market decline came a day after the benchmark S&P 500 and the Dow finished at record highs. Energy and financial sectors led the day's fall on the S&P 500, with the S&P 500 financial index (.SPSY) down 1.7 percent. Defense company shares gained despite the broader move lower. Shares of Northrop Grumman (NOC.N) were up 1.1 percent at $70.18, while shares of General Dynamics (GD.N) were up 2.1 percent at $68.39.

The Dow Jones industrial average (.DJI) was down 111.66 points, or 0.76 percent, at 14,550.35. The Standard & Poor's 500 Index (.SPX) fell 16.56 points, or 1.05 percent, at 1,553.69, its biggest daily percentage decline since February 25. The Nasdaq Composite Index (.IXIC) was down 36.26 points, or 1.11 percent, at 3,218.60. On Tuesday, decliners beat advancers in the market despite gains in the three major indexes. Also, healthcare, consumer staples and utilities, seen as the S&P's most defensive sectors, have led this year's rise on the index. Energy shares were among Wednesday's biggest decliners, with U.S. crude oil prices falling 2.8 percent. Shares of Chevron (CVX.N) were down 1 percent at $117.78. Other declining stocks included ConAgra Foods Inc (CAG.N), which fell 1.9 percent to $34.85 after reporting third-quarter earnings that fell 57 percent, though revenue grew.

First-quarter earnings forecasts have been lowered since the start of the year, with S&P 500 company earnings now expected to have risen 1.6 percent in the quarter compared with a year ago, according to Thomson Reuters data. A January 1 forecast put earnings growth at 4.3 percent. The ADP report showed U.S. companies hired at the slowest pace in five months, far below what economists had expected, though the February report was revised upward. The more widely watched U.S. government jobs report, due Friday, is expected to show 200,000 jobs were created last month.

Stocks on Bursa Malaysia closed slightly higher yesterday, supported by late buying interest which helped pare losses in the earlier session. The volatile market movement was mainly influenced by the long-awaited announcement on the 13th general election. Panic selling was seen on the local bourse, resulting in the key index falling more than 50 points, an hour before the prime minister went “live” over television for the announcement of the dissolution of the Parliament to pave the way for the general election. However, the FBM KLCI started to stabilise later as investors resumed their activities and began bargain hunting. FKLI spot month contract opened lower this morning at 1,678.5 but soon reached a high of 1,698.50.

Today’s Support and Resistance for April contract is located around 1,670 and 1,700 respectively.

FCPO Related News (Wed, Apr 3)

[ Breaking News : The Prime Minister finally announced the dissolution of Parliament today, paving the way for the much awaited 13th general election. ]

SINGAPORE, April 2 (Reuters) - Malaysian palm oil futures rebounded on Tuesday on bargain hunting after the edible oil fell to nearly a three-month low the previous day, while expectations that firm exports could help ease stocks further also provided support.

Palm oil fell to its lowest since Jan. 11 on Monday after the U.S. Department of Agriculture reported a larger-than-expected soybean stockpile, burnishing prospects that soybean oil supply could erode demand for palm oil. But traders took comfort from rising palm oil exports that could help trim inventories in Malaysia, the world's second largest palm producer, where stocks stood at 2.44 million tonnes at the end of February. "Today we see a technical bounce from an oversold market," said a dealer with a foreign commodities brokerage in Malaysia. "Slightly better export figures may improve expectation of lower stocks, but we need to watch out because the export rise could be due to more working days in March, compared to February."   

By the market close, the benchmark June contract on the Bursa Malaysia Derivatives Exchange had gained 1.9 percent to 2,382 ringgit ($772) per tonne. Prices fee as low as 2,335 ringgit on Monday, the lowest in almost three months. Total traded volume stood at 34,406 lots of 25 tonnes each, a tad lower than the average 35,000 lots seen so far this year. Technical analysis indicated palm oil is expected to hover above a support at 2,339 ringgit for one or two trading sessions, Reuters market analyst Wang Tao said.

Malaysia's exports of palm oil products inched up 2.8 percent in March to 1.36 million tonnes from a month ago, cargo surveyor Intertek Testing Services said on Monday, marking the first monthly rise in four months.     Another cargo surveyor, Societe Generale de Surveillance, reported a steeper 5.5 percent increase to 1.37 million tonnes. Firm exports raised hopes that palm oil stocks may have eased at a faster pace in March. Official data on palm oil stocks, output and exports from the Malaysian Palm Oil Board, the industry regulator, will be released on April 10.

In other markets, Brent crude edged above $111 a barrel on Tuesday as prospects of stronger appetite in Asia countered concerns over the pace of economic recovery in top consumer the United States. In vegetable oil markets, U.S. soyoil for May delivery  gained 0.4 percent in late Asian trade. The most active September soybean oil contract on the Dalian Commodities Exchange also inched up 0.2 percent.

Today’s Support and Resistance for benchmark June contract is located around 2,350 and 2,390 respectively. 

FKLI Related News (Wed, Apr 3)

NEW YORK (Reuters) - Stocks rose on Tuesday, led by the healthcare sector after a government decision on payment rates, while factory orders data confirmed the economy is steadily improving. The S&P 500 closed at another record high, though it fell short of breaking above its all-time intraday high of 1,576.09. The Dow also ended at another record high. The U.S. government dropped plans to cut payments for private Medicare Advantage insurers and instead said it would allow a 3.3 percent raise. The news boosted shares of some health insurers, including Humana, which derives about two-thirds of its revenue from Medicare Advantage business.

Humana's stock jumped 5.5 percent to $79.11 and was among the biggest percentage gainers on the S&P 500. UnitedHealth Group gained 4.7 percent to $61.74, while the S&P 500 healthcare sector index jumped 1.4 percent. For the day, the Dow Jones industrial average was up 89.16 points, or 0.61 percent, at 14,662.01. The Standard & Poor's 500 Index was up 8.08 points, or 0.52 percent, at 1,570.25. The Nasdaq Composite Index was up 15.69 points, or 0.48 percent, at 3,254.86. The S&P 500 surpassed its 2007 closing high last Thursday, while the Dow first broke above its 2007 record on March 5. Other big gainers in the healthcare sector included shares of Cigna, up 2.9 percent at $64.75.

Most investors expect moves to be limited this week before Friday's U.S. monthly payrolls report. The March jobs report could give clues on how successful the Federal Reserve has been in lowering unemployment, one of the primary headwinds for the economy. About 200,000 jobs were created last month, according to a Reuters poll, down from 236,000 in February. The unemployment rate is expected to come in at 7.7 percent, unchanged from the previous period, the poll showed. In an effort to bring down the unemployment rate, the Fed has maintained an accommodative monetary policy, which has also benefited stocks.

Overseas, Cyprus concluded bailout talks. The deal, which still requires ratification, would mean the country receives a 10 billion euro loan and will have until 2018 to carry out measures to shore up its finances. The country's finance minister resigned after concluding the deal.

Stocks on Bursa Malaysia ended broadly higher yesterday in active trading on strong investor buying support. Regional bourses, however, were mixed as investors were cautious of the US economic growth data. FKLI spot month contract opened higher this morning at 1,684 following Wall Street’s rally to new highs.

Today’s Support and Resistance for April contract is located around 1,620 and 1,686 respectively.

FCPO Related News (Tues, Apr 2)

Crude palm oil futures on Malaysia’s derivatives exchange end down reflecting investor concerns that Europe’s debt crisis and slow Chinese economy could curb demand. "The dip below MYR2,350/ton saw some investors scrambling to liquidate positions and cut losses while some added short positions," a commodities broker in Kuala Lumpur says adding that bearish technical signals could drag prices to MYR2,230-MYR2,250/ton in coming sessions. Still, some analysts reckon palm oil’s hefty $330/ton discount to soyoil and likely lower end-March stocks could prevent the prices from falling further.           [Dow Jones Newswire]

SINGAPORE, April 1 (Reuters) - Malaysian palm oil futures slipped to their lowest in nearly three months on Monday as  larger-than-expected U.S. soybean stockpiles continued to weigh on markets, although losses were capped by a marginal increase in exports. Malaysia's palm oil shipments for March edged up 2.8 percent to 1.36 million tonnes compared to a month ago, driven by higher exports of refined products, cargo surveyor Intertek Testing Services said on Monday. Another cargo surveyor Societe Generale de Surveillance reported a 5.5 percent increase to 1.37 million tonnes for the month.

But the market continued to feel the weight of the larger-than-expected soybean stocks reported by the U.S. Department of Agriculture (USDA). Plentiful soybeans for crushing into oil may divert some demand away from competing palm oil. "It looks like the USDA's bearish stock level is still leading palm," said a Singapore-based trader with a global commodities house. "A marginal increase in exports is not enough to counter the bearishness ... I think we will have to see how low the production cycle is going to be in order to have some supportive news."

By market close, the benchmark June contract on the Bursa Malaysia Derivatives Exchange had lost 1.8 percent to 2,336 ringgit ($756) per tonne. Prices earlier fell to 2,335 ringgit, a level last seen on Jan. 11. Total traded volume stood at 31,364 lots of 25 tonnes each, compared to the average 35,000 lots seen so far this year. A slight increase in exports and seasonal slowdown in production could trigger a further decline in Malaysia's palm oil stockpiles in March. Official data on inventory levels will be released next week.

In other markets, Brent crude eased to under $110 a barrel on Monday after Chinese manufacturing data missed market expectations, signalling possibly slower demand growth in the world's second-largest oil consumer. In vegetable oil markets, U.S. soyoil for May delivery lost 1.3 percent in late Asian trade. The most-active September soybean oil contract on the Dalian Commodities Exchange edged 1.4 percent lower.          [Reuters]

Today’s Support and Resistance for benchmark June contract is located around 2,320 and 2,395 respectively.

FKLI Related News (Tues, Apr 2)

NEW YORK (Reuters) - Stocks fell on Monday in one of the lightest volume days of the year, pulling back after the S&P 500's record closing high last week and after weaker-than-expected manufacturing data. Apple (AAPL.O) was the biggest drag on both the S&P 500 and Nasdaq 100 (.NDX), falling 3.1 percent to $428.91. Fidelity Contrafund, a $92 billion fund that is the largest active shareholder in Apple, reported that it cut its stake in the iPhone maker by 10 percent during the first two months of 2013. Data showed factory activity grew at the slowest rate in three months in March, suggesting the economy lost some momentum at the end of the first quarter.

The benchmark S&P index remains below its record intraday high of 1,576.09. Moves may be limited this week in the absence of major catalysts before the closely watched U.S. monthly payrolls report on Friday. The Dow Jones industrial average (.DJI) was down 5.69 points, or 0.04 percent, at 14,572.85. The Standard & Poor's 500 Index (.SPX) was down 7.02 points, or 0.45 percent, at 1,562.17. The Nasdaq Composite Index (.IXIC) was down 28.35 points, or 0.87 percent, at 3,239.17. Volume was second-lowest of the year, with roughly 5.16 billion shares traded on the New York Stock Exchange, the Nasdaq and the NYSE MKT.

With the strong start to the year, many investors have been anticipating a pullback. Uncertainty over the economic future of Cyprus has weighed on stocks in recent sessions. European markets were closed on Monday for a holiday. In the day's economic data, the Institute for Supply Management said its index of national factory activity fell to 51.3 last month from 54.2 in February. A reading above 50 indicates expansion in the manufacturing sector. A report from the Commerce Department showed construction spending rose more than expected in February, gaining 1.2 percent, above forecasts of a 1 percent rise.

Bursa Malaysia ended lower in thin trading yesterday on lack of buying interests despite mixed performances on the regional bourses dealers said. The FTSE Bursa Malaysia KLCI (FBM KLCI) slipped 4.02 points to close at 1667.61 after opening 0.25 point higher at 1671.88. FKLI spot month contract opened lower this morning following Wall Street’s fall on weak factory data.

Today’s Support and Resistance for April contract is located around 1,650 and 1,670 respectively.