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Markets

Palm edges up to 4-day top in early trade

Published Updated

FUNDAMENTALS

* Malaysian palm oil futures jumped by nearly 3 percent on Tuesday, recovering from a more than five-month low in the previous trading session, tracking gains in related edible oils.

* Chicago soybean futures rose for a second session on Wednesday, with focus on whether the latest round of talks between Washington and Beijing this week will be able to stop an escalation in a festering trade dispute between the two.

* Oil prices stabilised on Wednesday as markets remained relatively tight amid U.S. sanctions on crude exporters Iran and Venezuela.

MARKET NEWS

* Asian equities tracked Wall Street's slide on Wednesday, while investors switched to safe-haven government bonds, driven by fears that global growth will suffer as a potential trade deal between the United States and China appeared to be unravelling.

* Growing fears about the impact of a worsening U.S.-Sino trade conflict on global growth kept the safe-haven Japanese yen near recent highs.

* U.S. stocks slid on Tuesday as escalating trade tensions between the United States and China triggered global growth fears and drove investors away from riskier assets.

Copyright Reuters, 2019