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China's weekly state corn sales fall to lowest this year BEIJING: China found buyers for less than 1 percent of the nearly 5.4 million tonnes of state corn on offer this week, the lowest so far in the year, according to results of bids published by the country's online grains trading platform showed on Friday. The government sold 40,855 tonnes of corn at an average price of 2,273 yuan ($355.91) per tonne, down from 2,315 yuan per tonne last week. There were no bidders for about 75,000 tonnes of US corn offered at the auction this week, the National Grain and Oil Trade Centre data showed. The government has sold a total of 3.82 million tonnes of corn so far this year, just 4.3 percent of the total volumes offered, meaning it would be holding huge inventories ahead of harvesting late in the year. Sluggish sales of state corn stocks could prompt Beijing to stockpile less new harvest due in ...

Palm snaps eight consecutive weekly losses JAKARTA: Malaysian palm oil futures ended higher on Friday, posting their first weekly gain after eight consecutive weekly declines, on the back of other commodity markets and a weaker ringgit.The benchmark palm oil contract for November on the Bursa Malaysia Derivatives market rose 3.4 percent to 1,994 ringgit ($475.67) a tonne, its biggest increase since June 1. That followed a 3 percent gain in the previoussession.Traded volume stood at 55,024 lots of 25 tonnes each, ...
Spot gold to rise towards $1,137-$1,143 range SINGAPORE: Spot gold is expected to rise towards a range of $1,137-$1,143 per ounce, as indicated by a double-bottom and a Fibonacci retracement analysis.The double-bottom formed around the Aug. 26 low of $1,117.35 and suggests a target at $1,143, the 50 percent Fibonacci retracement on the fall from the Aug. 21 high of $1,168.40 to $1,117.35. However, this pattern could only be confirmed when gold climbs above $1,131. Support will be at $1,125, the 14.6 ...
LME aluminium to edge up to $1,590 SINGAPORE: LME aluminium may edge up to $1,590 per tonne, to complete a rebound from the Aug. 24 low of $1,506.The rebound consists of three waves, with the current wave c likely to travel a similar distance as the first wave labelled a, to arrive at $1,590, the 123.6 percent Fibonacci projection level of a bigger wave C, which developed from the July 15 high of 1,729.50.A break below $1,547, the 161.8 percent level, could ...
Shanghai copper to seek support at 39,050 yuan SINGAPORE: Shanghai copper may seek a support at 39,050 yuan per tonne, before retesting a resistance at 39,540 yuan, as suggested by its wave pattern and a Fibonacci projection analysis.The metal is riding on a wave c, the third wave of a three-wave cycle that developed from the Aug. 24 low of 37,530 yuan. This wave could travel to 39,990 yuan, its 100 percent Fibonacci projection level.An inverted head-and-shoulders forming between Aug. 18 and Aug. ...
Palm oil to rise to 2,024 ringgit SINGAPORE: Palm oil may rise more to 2,024 ringgit per tonne, following the completion of a five-wave cycle. The cycle started at the July 3 high of 2,285 ringgit. A Fibonacci retracement analysis reveals palm oil has climbed above a resistance at 1,963 ringgit, the 23.6 percent level.The next resistance will be at 2,024 ringgit, the 38.2 percent level. Indeed, palm oil may rise to 2,074 ringgit, the 50 percent level, which is near the ...
CBOT soybeans face resistance at $8.88-1/2 SINGAPORE: CBOT soybeans November contract faces resistance at $8.88-1/2 per bushel, a break above which could lead to a gain to the next resistance at $9.09.These resistances are identified respectively as the 23.6 percent and the 38.2 percent Fibonacci projection levels on the fall from the Aug. 10 high of $9.96-1/2 to the Aug. 24 low of $8.55.The bounce from $8.55 consists of three waves, with the current wave c likely to travel a similar ...


Index Closing Chg%
Arrow DJIA 16,351.38 1.82
Arrow Nasdaq 4,749.98 2.46
Arrow S&P 1,948.86 1.83
Arrow FTSE 6,083.31 0.41
Arrow DAX 10,048.05 0.32
Arrow CAC-40 4,554.92 0.30
Arrow Nikkei 18,095.40 0.39
Arrow H.Seng 20,934.94 1.18
Arrow Sensex 25,453.56 0.95

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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln