Asian Currencies Weaken as Overseas Investors Shun Region's Riskier Assets

(Bloomberg) -- Asian currencies fell on speculation
global investors cut holdings in riskier assets as stock markets
across the region dropped.

The Indonesian rupiah declined to the weakest in almost five
months and the Malaysian ringgit and South Korean won slipped to
their lowest in July. Bank Indonesia said last week it isn't
worried by the currency's decline, while South Korea's central
bank said the won is set to drop as the current-account surplus
narrows.


Read more at Bloomberg Currencies News

Palm Oil Drops in Asia After Exports Slow, Argentina Forecasts Large Crop

(Bloomberg) -- Palm oil futures on the Malaysia
Derivatives Exchange, which trades the benchmark contract, fell
for a second day on concern over falling exports and a forecast
rise in supply of soybeans, which can be used as a substitute.

Shipments from Malaysia, which with Indonesia produces
almost 90 percent of global output, fell 11 percent in the first
25 days of June from the previous month, Intertek Malaysia said.
Argentina, the third-biggest soybean producer, may have a record
harvest, the Buenos Aires Cereals Exchange said on June 22.


Read more at Bloomberg Commodities News

Indonesia Rupiah Gains on Investors' Risk Appetite: World's Biggest Mover

(Bloomberg) -- Indonesia's rupiah had its biggest
advance in more than a year as overseas investors returned to
the country's financial markets. Bonds rose.

The rupiah gained 1.6 percent, the biggest fluctuation of
any major currency, as the Jakarta Composite Index of stocks
rose as much as 0.8 percent to a record. The Philippine peso and
Malaysian ringgit also rose as a rebound in U.S. Treasuries gave
investors confidence to invest in emerging markets.


Read more at Bloomberg Currencies News

Malaysia's Khazanah May Sell More Convertible Bonds to Cut Equity Stakes

(Bloomberg) -- Khazanah Nasional Bhd., Malaysia's
state investment arm, may sell more dollar-denominated bonds
that can be converted into shares of government-linked companies,
a company spokesman said.

Khazanah may add to its sales of Islamic convertible bonds
after raising $750 million in September through selling
securities that can be redeemed for shares of Telekom Malaysia
Bhd. held by Khazanah. The offering was Southeast Asia's biggest
of Islamic convertible debt.


Read more at Bloomberg Bonds News

Malaysian Palm Oil May Average 54 Percent Higher This Year, OSK Forecasts

(Bloomberg) -- Palm oil futures in Malaysia, trader
of the benchmark contract, may average 54 percent higher this
year because of demand led by China for the world's most
consumed vegetable oil, according to OSK Research Sdn.

The futures may average 2,400 ringgit ($694) a ton this
year, Alvin Tai, an analyst at OSK, said today. This compares
with an average of 1,559 ringgit last year. He raised his
forecast by 12 percent from an earlier estimate of 2,150 ringgit.


Read more at Bloomberg Commodities News

Palm Oil Falls for Second Day on Higher Margins, Lower Export Volumes

(Bloomberg) -- Palm oil futures in Malaysia, the
global benchmark, fell for a second day after the Malaysia
Derivatives Exchange raised trading margins, adding to concerns
among some investors that higher prices may curb overseas demand.

The price, which rose to a record 2,764 ringgit ($797) a
metric ton on June 6, fell yesterday after the exchange raised
margins by as much as 43 percent from today. Palm oil shipments
to China may have dropped by about a quarter this month.


Read more at Bloomberg Commodities News