FKLI
NEW YORK, June 21 (Reuters) - U.S. stocks posted the worst day in three weeks on Thursday on mounting evidence that slowing manufacturing growth worldwide threatened corporate profits. Shares of energy and materials companies led declines as commodity prices fell. The Dow Jones industrial average was down 251.35 points, the worst decline since June 1. Stocks' slide was accelerated by Goldman Sachs research call suggesting shorting the S&P 500.
FKLI opened down at 1599 compared to yesterday's close at 1606.5, reached a low of 1596 and as at 11.30 am, market has since recovered to 1605.
FCPO
Support is still strong due to Ramadhan demand and dry weather affecting soy crop. A shipping executive in Kuala Lumpur tipped palm oil shipments to reach 1.46 million - 1.50 million tons in June, on higher sales to China, India and Pakistan. However, concern over the US and Euro economy continue to halt recovery. Investors’ mood was further soured after a preliminary gauge of China’s manufacturing activity weakened in June, market participants said.
NEW YORK, June 21 (Reuters) - U.S. stocks posted the worst day in three weeks on Thursday on mounting evidence that slowing manufacturing growth worldwide threatened corporate profits. Shares of energy and materials companies led declines as commodity prices fell. The Dow Jones industrial average was down 251.35 points, the worst decline since June 1. Stocks' slide was accelerated by Goldman Sachs research call suggesting shorting the S&P 500.
FKLI opened down at 1599 compared to yesterday's close at 1606.5, reached a low of 1596 and as at 11.30 am, market has since recovered to 1605.
FCPO
Support is still strong due to Ramadhan demand and dry weather affecting soy crop. A shipping executive in Kuala Lumpur tipped palm oil shipments to reach 1.46 million - 1.50 million tons in June, on higher sales to China, India and Pakistan. However, concern over the US and Euro economy continue to halt recovery. Investors’ mood was further soured after a preliminary gauge of China’s manufacturing activity weakened in June, market participants said.
FCPO September opened down at 2964 compared to yesterday's close at 3000, reached a low of 2946 and as at 12.15 pm has recovered to 2960. Technically, todays trade may be range bound with immediate resistance at 3062 and support around 2940. For a strong recovery, the market will need to break the immediate resistance level. Otherwise, macroeconomic factors will drive the market further down.
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