20101115 0933 Global Market News.

Corn up 2 pct on talk of Chinese buying, soy steady
SINGAPORE, Nov 15 (Reuters) - U.S. corn futures rose more than 2 percent as bargain hunters stepped into the market following Friday's slump amid talk that China bought cargoes of Argentine corn.
"The rebound is partly due to talk that China is buying corn and some South American trade going on in that market," said Garry Booth, a traderwith MF Global Australia. "We also had the Iraqi wheat tender on Friday where Australia and U.S. secured more business."

Stocks steadier after fall; sentiment fragile
SYDNEY, Nov 15 (Reuters) - Investor demand for riskier assets made a tentative comeback, with commodity prices steadier and Asian stock markets scoring modest gains, a session after their biggest one-day fall in over four months.
Commodity currencies such as the Australian dollar clawed off the lows plumbed on Friday, when fears that fast-growing China will have to lift interest rates to curb inflation gripped markets.

OIL: Crude inches higher on dip-buying
TOKYO, Nov 15 (Reuters) - U.S. crude futures edged up on Monday on dip-buying after dropping more than 3 percent late last week due to caution over the pace of the recent rally.
The contract on Friday fell as low as $84.52, the lowest intraday level since Nov. 3, as investor attention shifted to fears that China may raise interest rates to brake its economy and concerns about euro zone debt.

COMMODITY MARKETS: China rate worry spurs biggest rout in months
NEW YORK, Nov 12 (Reuters) - Major commodities fell by the most in months on Friday on concern China will raise interest rates to slow growth, halting a rally that has seen raw goods prices surge to multi-year highs on improving demand and last week's U.S. economic stimulus package.
"We are seeing the unwinding of the QE2 (quantitative easing) trade across markets, and it's hitting commodities hard since they were bid high," said Mihir Warah, manager of the $16 billion Pimco Commodity RealReturn Strategy Fund.

GLOBAL MARKETS: Stocks steadier after fall; sentiment fragile
SYDNEY, Nov 15 (Reuters) - Investor demand for riskier assets made a tentative comeback on Monday, with commodity prices steadier and Asian stock markets scoring modest gains, a session after their biggest one-day fall in over four months.
"Overall, sentiment remains fragile as European bond concerns taken together with worries about monetary tightening in China have resulted in risk appetite declining," said Mitul Kotecha, head of global fx strategy at Credit Agricole in Hong Kong.

G20 closes ranks but skims over toughest tasks
SEOUL, Nov 12 (Reuters) - G20 leaders closed ranks on Friday and agreed to a watered-down commitment to watch out for dangerous imbalances, yet offered investors little proof that the world was any safer from economic catastrophe.
After an acrimonious start, the developing and emerging nations agreed at a summit in Seoul to set vague "indicative guidelines" for measuring imbalances between their multi-speed economies but, calling a timeout to let tempers cool, left the details to be discussed in the first half of next year.

China markets fall, rate rise talk spooks investors
SHANGHAI, Nov 12 (Reuters) - China's stock market fell nearly 4 percent and Shanghai copper futures tumbled to their 5 percent downside limit on Friday, as speculation of an imminent interest rate rise by Beijing spooked investors.
The Shanghai Composite Index slid 3.97 percent in mid-morning trade to its lowest since the start of November, before recovering slightly to be down 3 percent by 0531 GMT.

After years of US housing mess, no end in sight
CHICAGO, Nov 11 (Reuters) - America's housing mess came to the western part of Humboldt Park long before it hit wealthier neighborhoods, but like much of the country the crisis is apparently going nowhere.
"Everything is on hold here," said John Groene, director of the neighborhood's branch of nonprofit lender Neighborhood Housing Services of Chicago (NHS), on a tour of this predominantly black and Hispanic area. "And there's no end in sight."

PRECIOUS-Gold slips 2 pct as euro zone debt fears knock euro
LONDON, Nov 12 (Reuters) - Gold prices slipped more than 2 percent in Europe on Friday as concerns over the ability of some smaller euro zone countries to service their debt battered the financial markets, sparking broad-based selling of commodities.
Worries that Ireland would, like Greece, need a bailout knocked the euro sharply lower against the dollar, while talk of a possible Chinese rate hike depressed commodities, pushing this week's Group of 20 meeting in Seoul into the background.

FOREX-Euro, high-yielders slide as risk off the table
LONDON, Nov 12 (Reuters) - The euro hit six-week lows against the dollar on Friday and fell to a two-month troughs versus the yen while high-yielding currencies took a knock as a wave of risk reduction swept financial markets.
With the G-20 meeting in Seoul and the Federal Reserve's quantitative easing measures moving into the background, worries about Ireland's ability to pay its debt took the limelight and prompted investors to turn cautious about riskier assets.

Euro falls on Ireland; risky assets sold off
HONG KONG, Nov 12 (Reuters) - The euro fell  on fears Ireland may need a bailout just like Greece, while a sharp decline in commodities and stock prices hastened a broad retreat from risky assets.
"The effects of euro zone peripheral bond concerns are spreading through euro zone markets and hitting risk appetite in the process. The euro is a clear casualty, having dropped further against the U.S. dollar and versus other currencies," said Mitul Kotecha, global head of currency strategy with Credit Agricole CIB in Hong Kong.