20101227 1849 FCPO EOD Daily Chart Study.

FCPO closed : 3756, changed : +91 points, volume : higher.
Bollinger band reading : upside biased.
MACD Histrogram : recovering, buyer holding on.
Support : 3750, 3720, 3700 level.
Resistance : 3770, 3800, 3870 level.
Comment :
FCPO rallied recorded significant gain with better volume changed hand despite weak export data released as tight supply concern due to weather factor plus soy oil and crude oil continue stand firmer.
Daily chart formed a wide range up bar candle closed right at upper Bollinger band resistant level with the band width about to turn outward suggesting a further upside biased market development testing higher resistant level.
When to buy : buy at support and weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20101227 1819 FKLI EOD Daily Chart Study.

FKLI closed : 1513.5, changed : -3 points,  volume : lower.
Bollinger band reading : side way range bound upside biased.
MACD Histrogram : turned downward, buyer reducing exposure.
Support : 1500, 1485, 1470 level.
Resistance : 1515, 1530, 1550 level.
Comment :
Slightly improved volume FKLI closed recorded loss while regional market ended mixed after surprise China central bank official raised interest rate by 25 basis point on 26 Dec 2010.
Daily chart formed 4th doji bar candle with small body after market traded range bound within a 4 points range market with the reading suggesting a side way range bound upside biased market development.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20101227 0959 Global Economics Related News.

China: Increases rates to counter highest inflation in two years
China raised interest rates for the second time since mid-October to counter the fastest inflation in more than two years, and more moves may follow. The benchmark one-year lending rate will rise by 25 basis points to 5.81% and the one-year deposit rate will climb by the same amount to 2.75%, the People’s Bank of China said in a one-sentence statement on its website. (Bloomberg)

France: AAA credit rating affirmed by S&P on budget confidence
France’s standing as one of the world’s safest borrowers was affirmed by Standard & Poor’s, reflecting that the Euro-area’s second largest economy will rein in its budget deficit. At the end of a year in which rating companies downgraded the debt of Euro nations from Spain to Ireland, S&P said that France deserves a AAA sovereign credit rating because of the “wealth and depth” of its economy. (Bloomberg)

US: Consumer spending, investment increase
Americans increased spending in November for a fifth straight month and companies stepped up orders for equipment, more evidence the US economy is gaining momentum heading into 2011. Household purchases rose 0.4% after a 0.7% increase in October that was almost twice as large as previously estimated, figures from the Commerce Department showed. The agency also reported a 2.6% gain in bookings for capital goods like computers and electronics. (Bloomberg)

US: Home prices probably fell, confidence up
Home prices probably dropped in October, a sign housing will remain a weak link as the US recovery accelerates into the new year, economists said before reports this week. Property values in 20 cities were down 0.2% from October 2009, the first year-over-year decline since January, according to the median forecast of 14 economists surveyed ahead of a report from S&P/Case-Shiller. Other data the same day may show consumer confidence rose to a seven-month high in December. (Bloomberg)

20101227 0958 Malaysia Corporate Related News.

No listing plan for Petronas Carigali
National oil company Petroliam Nasional Bhd (Petronas) has shot down market talk that it will list wholly-owned exploration and production unit Petronas Carigali SB. “We have no plans to list Petronas Carigali or any other unit,’’ a Petronas spokesperson told StarBizWeek when contacted last Friday. Several business dailies last Saturday quoted MIDF Amanah Investment Bank Bhd’s research head as saying that Petronas Carigali could list on Bursa Malaysia next year in a move to draw foreign funds. The research head said that analysts had been told by Bursa officials of a possible initial public offering (IPO) for Petronas Carigali. However, Bursa clarified in a media statement yesterday evening that its listing department had not received any new listing application by Petronas. (StarBiz)

AirAsia boss says no plan to buy Virgin
 AirAsia Bhd group chief executive officer Datuk Seri Tony Fernandez denies there are any plan to buy a stake in British airline Virgin Atlantic as reported by the Sunday Times newspaper. “There are no discussions taking place,’’ he told StarBiz from London yesterday. The Sunday Times said in an unsourced report yesterday that Fernandez, who runs Asia’s largest Budget carrier by fleet size, had renewed his interest in the UK airline after previously considering and deciding against a bid. Any deal could be worth up to GBP1bn, the newspaper said. (StarBiz)

Siemens eyes rail jobs
Siemens, a global expert in rail transport technology, is preparing to bid for several potentially lucrative railrelated tenders in Malaysia. Several such jobs are expected to be offered in the near future, including the supply of 40 locomotives for rail company Keretapi Tanah Melayu Bhd (KTMB), the Ampang light rail transit (LRT) extension and possibly the Kuala Lumpur-Singapore high speed train project. Siemens also plans to bid for the Ampang LRT extension project in which tender is set to be out on 11 Jan 11 next year. "What the industry expects, especially for the Ampang line, is that the specification will be open enough to establish competition. (We understand) for the Ampang line, the specification will be more extensive, so it means that companies like Siemens and other big supply companies would be interested to go for it," said Muench (Mobility Division Head Siemens Malaysia). He said the job for the 17km extension, which would include signalling systems, electrification and communications, among other things, could be worth in the region of between RM200m and RM300m. (BT)

RM44.3m charges stem from write-downs in collateral values, says K&N Kenanga
K&N Kenanga Holdings Bhd said additional impairment of RM44.3m, which will be reflected in its fourth-quarter results, stems from write-downs in collateral values relating to a loan and an investment in an associate company. In a statement on Friday, K&N Kenanga said although the impairment would reflect negatively on the group's profit and loss figures, its operating profit for the nine-month period ended Sept 30, 2010, excluding the impairment figure, remained positive at RM40.4m against RM26.9m in the same period in 2009. "The preimpairment operating profit for the group represents a growth of 50.2%," it said. (StarBiz)

Epic has no plans to go private
Eastern Industrial Pacific Corp Bhd (Epic) has dismissed suggestions that the company will be taken private, following the sale of a 21.26% stake by Ahmad Zaki Resources Bhd (AZRB) to Lembaga Tabung Amanah Warisan Negeri Terengganu. Its chief executive officer Ramli Shahul Hameed said Epic wants to remain as a listed company on Bursa Malaysia. "To Epic's knowledge, there is no such plan (to take the company private) ... We want to maintain the listing status," he told Business Times in an interview recently. Prior to the acquisition of AZRB's stake, Epic had also announced a 10% share buyback plan early in the year. Ramli explained that the share buyback was planned earlier so that the state government would be able to control the company, but it does not really matter now that Lembaga Tabung Warisan Negeri Terengganu has acquired AZRB's stake. "Yes, we have started buying the stakes through share buybacks but we have yet to complete the exercise. We have secured the approval to continue with the share buyback exercise. (BT)

Kimlun keen to bid for tunnel lining jobs in MRT project
KIimlun Corp Bhd said it is keen to bid for the tunnel lining segments job packages in the RM14bn Sungai Buloh- Kuala Lumpur-Kajang mass rapid transit (MRT) line project. "Yes, we would like to bid for (relevant) parts of the project. We have experience in making MRT tunnel segments," chief executive officer Sim Tian Liang told Business Times in an interview in Kuala Lumpur. Kimlun's unit SPC Industries Sdn Bhd is one of the very few active tunnel lining segments suppliers in the country, the others being MTD ACPI Engineering Bhd and Hong Leong Asia Pte Ltd. It has a construction and pre-cast products order book of RM800m as at September this year. As one of the largest manufacturer of pre-cast concrete products in Johor, Kimlun has been supplying tunnel lining segments for the Singapore MRT extension project. "Although we're based in Johor, it is not a problem for us to supply to the Greater KL MRT project. When the government starts to roll out the job packages in mid-2011, we can always lease land in Klang Valley and set up a casting yard there," Sim said. (BT)   

20101227 0842 Crude Palm Oil Export Data.

SGS CPO export down 23.7% to 1,040,145 tonnes for the period of 1~25 Dec 2010.
ITS CPO export down 23.9% to 1,003,459 tonnes for the period of 1~25 Dec 2010.

20101227 0841 Global Market Related News.

Oil eases from two-year high after Chinese interest rate hike
SINGAPORE, Dec 27 (Reuters) - Oil eased from two-year  highs as uncertainty over Chinese fuel demand growth  following a Christmas Day interest rate hike overshadowed a  cold snap in the U.S. Northeast.
"China's interest rate hike is having some impact on the  oil markets... because of concerns over how the tightening of  monetary policy will impact demand growth," said Serene Lim,  an oil analyst at ANZ.

World economy can withstand $100 oil price-Kuwait
CAIRO, Dec 25 (Reuters) - The global economy can withstand an oil price of $100 a barrel, Kuwait's oil minister said on Saturday, as other exporters indicated OPEC may decide against increasing output through 2011 as the market was well supplied.
Analysts have said oil producing countries are likely to raise output after crude rallied more than 30 percent from a low in May because they fear prices could damage economic growth in fuel importing countries.

U.S. wheat falls from 4-1/2 month top on China rate hike
SINGAPORE, Dec 27 (Reuters) - U.S. wheat futures slid 0.7  percent, falling from  a 4-1/2 month top, while  soybeans and corn lost ground after China raised interest  rates on Christmas Day, the latest in a series of measures to  cool inflation.
"It will be bearish for agricultural prices... but we  believe the impact will be short-lived and not hit the bullish  trend," said Wang Ping, an analyst with Dongwu Futures in  China.

Gold recovers some loss, bargain hunting supports
SINGAPORE, Dec 27 (Reuters) - Spot gold regained some  ground and platinum group metals returned to positive  territory, as bargain hunting lent support, after prices lost  about one percent in early trade in response to China's  interest rate increase on Saturday.
"Earlier speculators were selling on China's rate hike  news, but a lot of buying has since emerged as speculators are  buying on dip," said a Tokyo-based dealer.

China rate hike weighs on Aussie, commodities
HONG KONG, Dec 27 (Reuters) - The Australian dollar and  commodity prices slid following an interest rate  hike by China's central bank over the Christmas weekend, but  volumes were light due to holidays in the final week of 2010.
"Expect Asian markets to be tempered into the last trading  week of the year. The cautious tone and lower turnover this  month compel the case for further consolidation," said Howie.  

OIL: Oil falls below $91 after China interest rate hike
SINGAPORE, Dec 27 (Reuters) - Oil prices fell below $91 on  Monday after China raised interest rates for the second time  in just over two months to cool inflation which is running at  its highest in over two years.
The global economy can withstand an oil price of $100 a barrel, Kuwait's oil minister said, as other exporters indicated OPEC may decide against increasing output through 2011 as the market was well supplied.

COMMODITY MARKETS: Oil ends above $91 pre-Christmas; sugar, soy rally
NEW YORK, Dec 23 (Reuters) - Oil ended at a two-year high above $91 per barrel while soybean and sugar prices surged on Thursday as investors tightened their focus on fundamentals in commodities in the last session before Christmas.
"You can almost feel the will for good economic recovery and growth worldwide as we head into 2011," RBC Capital Markets said in a research note out of London.

GLOBAL MARETS: Stocks, oil rise in festive cheer
PARIS, Dec 24 (Reuters) - World stocks held near the previous day's two-year high on Friday while oil hit fresh two-year peaks after strong U.S. data this week encouraged investors to maintain their risk positions into 2011.
"We've had a good run, helped by quantitative easing and better economic data," said Bernard McAlinden, investment strategist at NCB Stockbrokers in Dublin. "We've broken out of ranges, and it can go higher in 2011."

The surprise timing of the People's Bank of China (PBOC) increase in benchmark lending and deposit interest rates is likely to weigh on commodity markets when trading starts on Monday.On Christmas Day, the PBOC raised rates by 25 basis points, the second rate rise in just over two months, part of a series of measures designed to combat inflation which hit a 28-month high of 5.1 percent in November. 

The opportunity to cash in on prices at or near their highest in years before the year end could mean the correction this time may be greater than the losses following the last interest rate hike in October.

US data reinforce solid fourth-quarter growth hopes
WASHINGTON, Dec 23 (Reuters) - Demand for a range of long-lasting U.S. manufactured goods surged in November and consumer spending rose for a fifth straight month, cementing views of a solid economic growth pace in the fourth quarter.
The brightening outlook was also bolstered by other reports on Thursday showing an improving labor market and consumer sentiment, though housing continues to struggle.

China c.bank to gear up fight against inflation
BEIJING, Dec 24 (Reuters) - China's central bank kept up its rhetoric against inflation and excess liquidity on Friday by saying it will deploy a range of policy tools to head off inflationary pressures and asset bubbles.
Hu Xiaolian, a deputy governor at the People's Bank of China, said monetary policy in the world's second-largest economy needs to be prudent to tame inflation, which hit a 28-month high of 5.1 percent in November.

S.Korea faces inflation, asset bubble risks-min
SEOUL, Dec 24 (Reuters) - South Korea 's finance minister said the country needs to brace for inflationary pressures sparked by rising global liquidity and commodities prices in 2011, and an interest rate rise to address the risk of asset price bubbles.
Yoon Jeung-hyun told an economy-related ministerial meeting on Friday that higher international oil, metals and grain prices could pressure supply-side prices in line with growing liquidity and expansion in emerging economies.

PRECIOUS-Gold rises towards $1,385/oz as dollar retreats
LONDON, Dec 24 (Reuters) - Gold prices edged higher in Europe on Friday, supported by the euro's rebound from a three-week low versus the dollar, and as a further ratings downgrade stoked concerns over euro zone debt.
Fitch Ratings downgraded Portugal's long-term and local currency ratings by one notch to A-plus late on Thursday, with a negative outlook.

FOREX-Euro steady in thin trade, sentiment fragile
LONDON, Dec 24 (Reuters) - The euro was steady on Friday after rebounding from a record low against the Swiss franc and a three-week low versus the dollar, but any gains were curbed as investors remained wary about euro zone debt problems.
Trade was extremely thin, with few orders going through so close to the Christmas holidays, resulting in limited movement in any major currency pair.

20101224 1829 FCPO EOD Daily Chart Study.

FCPO closed : 3665, changed : +7 points, volume : lower.
Bollinger band reading : side way range bound upside biased.
MACD Histrogram : recovering, buyer continue stay put.
Support : 3650, 3620, 3550 level.
Resistance : 3700, 3720, 3750 level.
Comment :
Low participation FCPO recorded small gain with quiet volume traded ahead of next Monday export data release after soy oil and crude oil futures price traded and closed for the holiday higher.
Another small body up doji bar candle day (the 5th continuous) edge up little higher a longer lower shadow while the Bollinger band width continue to turn inwards suggesting a side way range bound upside biased market development.
When to buy : buy at support and weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20101224 1819 FKLI EOD Daily Chart Study.

FKLI closed : 1516.5, changed : -0.5 point,  volume : lower.
Bollinger band reading : side way range bound upside biased.
MACD Histrogram : rising, buyer still holding on.
Support : 1515, 1500, 1485 level.
Resistance : 1530, 1550, 1580 level.
Comment :
Holiday mood FKLI traded quietly closed 1 tick lower with much lower volume changed hand as most regional markets closed recorded small loss.
Daily chart formed the 3rd doji bar candle with longer lower shadow after market tested below 1515 support level and recovered while the Bollinger band stop turning inwards suggesting a side way range bound upside biased market development.
When to buy : buy at support or weakness with quick cut loss and profit target.
When to sell : sell at resistant or strength with quick cut loss and profit target.

20101224 1121 Global Economics Related News.

Singapore: Inflation accelerated to 22-month high in November
Singapore’s inflation rate rose to the highest level since January 2009, an acceleration that may put pressure on the central bank to allow further currency appreciation to curb price increases. The consumer price index climbed 3.8% in November from a year earlier, after gaining 3.5% in October, Singapore’s Department of Statistics said in a statement. That matched the median estimate of 14 economists surveyed by Bloomberg News. Prices rose 0.3% from October, without adjusting for seasonal factors. (Bloomberg)

India: Food inflation accelerates as onion costs jump
India’s food inflation accelerated to a six-week high, adding pressure on authorities to curb a jump in onion prices that has forced the nation to halt exports of the staple this week and toppled governments in the past. An index measuring wholesale prices of agricultural products including lentils, rice and vegetables compiled by the commerce ministry rose 12.13% in the week ended 11 Dec from a year earlier, a trade ministry report showed in New Delhi. The index gained 9.46% the previous week. (Bloomberg)

South Korea: Consumer confidence declines on jobs, growth outlook
South Korean consumer confidence declined in December as people became less optimistic about the economy and job prospects. The sentiment index fell to 109 from 110 in November, the Bank of Korea said. A number exceeding 100 indicates optimists outnumber pessimists. The central bank left borrowing costs at 2.5% this month after an appreciation in the nation’s currency contributed to a moderation in economic expansion. It increased interest rates by a quarter percentage-point each in July and November from a record-low 2%. GDP growth will cool to 4.5% next year, from 6.1% in 2010, the monetary authority said. (Bloomberg)

US: New home sales, prices rise in Nov
New US single-family home sales rose in November but to a lower-than-expected rate, a government report showed, highlighting the weakness in the housing market even as the broader economic recovery gains momentum. The Commerce Department said sales increased 5.5% to a seasonally adjusted 290,000 unit annual rate after a downwardly revised 275,000 unit pace in October. (Bloomberg)

US: Consumer spending increase, jobless claims dip
Americans increased spending in November for a fifth straight month and companies stepped up orders for equipment, more evidence the US economy is gaining momentum heading into 2011. Household purchases rose 0.4% after a 0.7% increase in October that was almost twice as large as previously estimated, figures from the Commerce Department showed. Rising incomes and stock prices are giving consumers the wherewithal to boost the purchases that account for 70% of the world’s largest economy. A drop in claims for jobless benefits indicates employers are slowing the pace of firings, a step toward cutting unemployment from close to a 26-year high. (Bloomberg)

20101224 1120 Malaysia Corporate Related News.

Sime Darby files civil suit
Sime Darby has filed a civil suit against its former president and group chief executive Datuk Seri Ahmad Zubir Murshid and four senior executives claiming RM337.63m in damages for alleged breach of duties in three projects under the troubled energy and utilities division.(Financial Daily)

PLUS directors extend deadline for new bids
The independent directors of PLUS extended the period for new offers to buy the group's business to 10 Jan, 2011 from the earlier announced deadline of 5pm yesterday. (StarBiz)

US firm looking at Adventa acquisition
Rubber glove manufacturer Adventa hit limit up yesterday on speculation that it could be a potential acquisition target by a US healthcare firm for the upstream integration of its healthcare business. It was also rumored earlier that the US firm had previously been in preliminary talks with Top Glove but had decided Top Glove was too big a manufacturer, which would be too expensive. (Financial Daily)

Proton planning two-seater sports car that would look like Lotus
 Proton Holdings plans to produce a two-seater sports car in two years. Proton corporate planning general manager Badrulhisham Mohd Ghazali said the vehicle would not be a hatch-back type like Satria Neo but would look like the legendary Lotus. (StarBiz) Internal BToto discussions consider strategic investor Berjaya Sports Toto (BToto) has had preliminary discussions internally on a possible corporate exercise which may result in the entry of a strategic investor, it told Bursa Malaysia yesterday. It said that while there had been initial contact with several potential strategic investors, no negotiation had been conducted with any strategic investor at this juncture, as internal discussions and planning were still ongoing. (StarBiz)

Nusajaya to develop RM670m project
Nusajaya Consolidated SB, a 50:50 joint venture between UEM Land and United Malayan Land (UMLand), will develop 6.7 acres in Nusajaya, Johor, into a mixed development project with a gross development value of RM670m. UMLand said in a statement to Bursa Malaysia that NCSB yesterday signed an agreement with Bandar Nusajaya Development SB to acquire the freehold land in Nusajaya for RM49.6m in cash. The proposed development, to comprise commercial, residential and retail components, will be developed over four years and is expected to yield a gross profit of RM160m. It is located in Puteri Harbour, an integrated waterfront and marina development spanning 278.42ha within Nusajaya and Iskandar Malaysia. (StarBiz)

Pintaras unit wins RM26m job
Pintaras Jaya’s wholly owned subsidiary, Pintaras Geothecnics SB, had been awarded a contract worth RM26.1m by Exceljade SB. The contract will see Pintaras Undertake earthwork, piling including pilecap and stumps for development of service apartments at Jalan Tun Razak. Jalan Raja Muda Abdul Aziz in the city. The project will start contributing positively to errnings. (Bernama)

Government funded MRT
The Government will set up a special vehicle company (SPV) to channel total funding for the proposed greater KL mass rapid transit (MRT) project. Land Public Transport Commission (SPAD) chief executive officer Mohd Nur Ismal Kamal said the multi-billion ringgit project will not be undertaken on a turnkey basis and contractors need not seek financing. All MRT job packages will be tendered out to both local and international contractors. (Bernama) 

20101224 1116 Global Market Related News.

Rising Food Prices Point To China Policy Challenges -UN Envoy (Source : CME)
Sharp increases in food prices highlight shrinking arable land and land degradation in China, putting at risk the country's ability to sustain increases in agricultural production, a senior United Nations official said. The sharp agricultural product price rally this year has fed into the highest inflation levels in 28 months, even as China said earlier this month it secured a seventh consecutive record grain harvest. Despite the rising output numbers, Olivier De Schutter, the United Nations Special Rapporteur on the right to food, indicated that food inflation pointed to deeper policy problems. "The recent food price hikes in China are a harbinger of what may be lying ahead," he wrote in a release published along with a six-page report on the situation in China. "The widening gap between rural and urban is an important challenge to the right to food of the Chinese population," he said.
Since 1997 China has lost 8.2 million hectares of arable land to urbanization, industrialization, forest replanting programs and natural disasters, he said. "Today, 37% of China's total territory suffers from land degradation." Shrinking arable land poses a major threat to China's policy aim of maintaining self-sufficiency in grains and will fuel competition over land and land evictions, de Schutter said. He urged Beijing to accelerate the pace of sustainable farming and move toward more low-carbon agriculture, as well as address a widening urban-rural income gap and phase out a household registration system that deprives rural migrant workers from access to basic services in cities.

US home sales bounce back, 3rd-quarter GDP raised
WASHINGTON, Dec 22 (Reuters) - Sales of previously owned U.S. homes rose in November, offering the latest sign the economy was ending the year on a more solid footing after a sluggish third-quarter.
The Commerce Department on Wednesday said the economy grew at an annual rate of 2.6 percent in the third quarter, a touch above its earlier 2.5 percent estimate, but more of that output ended up in warehouses.

China top banker sees rate rises
SHANGHAI/BEIJING, Dec 23 (Reuters) - China Construction Bank Corp (CCB)  Chairman Guo Shuqing said he expects the government to raise interest rates and lift bank required reserve ratios (RRR) further next year.
Guo, former head of the State Administration of Foreign Exchange (SAFE) and widely seen as a candidate for the next central bank governor, told Xinhua News Agency that the moves were aimed at reining in money supply and bank credit.

PRECIOUS-Gold holds above $1,380/oz as debt fears support
LONDON, Dec 23 (Reuters) - Gold held steady above $1,380 an ounce in Europe on Thursday as trade thinned ahead of the Christmas holidays, but was set for its first weekly gain in three as worries over euro zone sovereign debt lent support.
Spot gold  was bid at $1,383.65 an ounce at 1033 GMT, against $1,384.55 late in New York on Wednesday. U.S. gold futures for February delivery  fell $3.10 to $1,384.30.

FOREX-China support steadies euro, outlook shaky into 2011
LONDON, Dec 23 (Reuters) - The euro steadied against the dollar and the Swiss franc on Thursday, helped by supportive comments from China, but analysts said the outlook for the single currency was shaky, with fresh losses expected into 2011.
Liquidity was at a premium in currency markets ahead of year-end, with traders saying flows were having a bigger impact on price than fundamentals.

U.S. wheat at 4-1/2 month top, soy, corn firm
SINGAPORE, Dec 23 (Reuters) - U.S. wheat rose 0.4 percent  to a 4-1/2 month high as fears of tight global supplies next  year and talk of Russia's extension on grain exports  underpinned the market."The grain markets are in follow-through price mode as Australia is still supportive for wheat, although the market  has factored it in. And there are ongoing rumours that Russia  may extend the export ban," said Ker Chung Yang, an analyst at  Phillip Futures in Singapore.

World stocks scale two-year highs; oil firm
PARIS, Dec 23 (Reuters) - World stocks hit their highest level since September 2008 on Thursday while oil held near a two-year peak as favourable U.S. data reinforced expectations economic growth will retain momentum into next year."The corporate picture still looks very bright, the trend towards higher profits is going to continue and public policies should remain shareholder-friendly," said Henk Potts, equity strategist at Barclays Wealth. 

20101224 1115 Soy Oil & Palm Oil Related News.

US Soy oil futures market closed today due to Christmas Eve Day.

CBOT soy products ended higher as soybeans rallied on strong demand. The U.S. Census crush report was in line with expectation, and showed crushing of soybeans into soymeal and oil was down from the prior month, which analysts said was due to weaker processing margins. Jan soymeal ended up $7.30, or 2.1%, to $360 per short ton. Jan soyoil closed up 0.62 cent, or 1.1%, to 56.59 cents per pound. The market will be closed Friday for the Christmas holiday.  (Source: CME)

Palm off 1-week high on China restocking, weather
KUALA LUMPUR, Dec 23 (Reuters) - Malaysian crude palm oil  futures ended off one-week highs on Thursday, as China  unveiled plans to restock agriculture commodities at a time  when erratic weather globally may curb supplies."The weather story now includes a China story, which will  see gains across most the of the agricultural complex," said a  trader with a foreign commodities brokerage.

Uruguayan farmers seen planting record soy area
MONTEVIDEO, Dec 22 (Reuters) - Farmers in Uruguay are expected to dedicate a record high area to soybeans in the 2010/11 season, despite concerns that dry weather linked to La Nina could hit crops, a government poll showed on Wednesday.
Uruguayan soy output is tiny when compared with that of its South American neighbors Brazil, Argentina and Paraguay -- the world's second, third, and fourth biggest soy exporters, respectively.