KUALA LUMPUR: Malaysian palm oil futures rose over 1 percent in early trade on Tuesday, recovering from an over five-month low hit in the previous trading session.
The benchmark palm oil contract for July delivery on the Bursa Malaysia Derivatives Exchange was last up 1.6 percent at 2,016 ringgit ($486.25) a tonne.
FUNDAMENTALS
* Malaysian palm oil futures fell to their lowest in more than five months on Monday as U.S. President Donald Trump's threats to increase tariffs on Chinese imports risked prospects of a trade deal, sending commodities and stock markets lower.
* Chicago soybean futures lost more ground on Tuesday with prices dropping for an eighth consecutive session as fresh trade tensions between Washington and Beijing weighed on the market.
* Oil prices were mixed on Tuesday as U.S. sanctions on oil exporters Iran and Venezuela kept markets on edge while concerns that an escalating Sino-U.S. trade dispute could slow the global economy also kept crude somewhat in check.
MARKET NEWS
* Asian shares wallowed near five-week lows early Tuesday after Trump's tariff threat re-ignited worries about U.S.-China trade tensions, while Japan's Nikkei opened down after a 10-day break.
* The dollar hung near a five-week low against the yen on Tuesday after worries about U.S.-China trade tensions rekindled fears about the outlook for global growth.
* U.S. stocks fell on Monday after Trump pledged to raise tariffs on Chinese goods, though Wall Street finished well off its session lows as some investors saw Trump's comments as a bargaining tactic and expressed confidence in an eventual trade agreement.
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