Palm Oil based Biofuel for protecting rainforest ban by Norway becomes first country this

 Palm oil-based biofuels will no longer be authorised in Norway, the nation's parliament introduced remaining week. The move, which goals to thwart the destruction of Indonesian rainforests razed for palm oil plantations, makes Norway the first u . s . to enforce such a ruling.

Norway's biofuel enterprise will have until 2020 to segment out the oil. But palm oil isn't just located in biofuel; it is also used in a range of meals and private care objects from pastries and peanut butter spreads to shampoos and soaps. Those objects will nevertheless be permitted. The EU is also working towards a 2030 closing date to section out products the use of palm oil. And different countries are anticipated to comply with Norway's lead on palm oil.

"The Norwegian parliament's decision sets an important example to different countries and demonstrates the want for a serious reform of the world's palm oil industry," Nils Hermann Ranum of Rainforest Foundation Norway said in a statement.

The rainforests in Indonesia, and mainly in the Bornean forests, are being destroyed for the manufacturing of palm oil. Borneo is the only area the place endangered orangutans are found in the wild and their numbers are swiftly declining as forests are burned so palm plantations can take their place.

Norway's decision to cast off palm oil from its biofuel industry got here after years of dialogue and a vote ultimate yr to stop the authorities from buying palm-based biofuel (the authorities moved alternatively to a voluntary removal system).

The ruling remaining Monday garnered a majority vote by parliament; it used to be extra complete than preceding legislation, too, now extending to the country's complete gasoline market, urging the authorities to "formulate a comprehensive notion for insurance policies and taxes in the biofuels coverage in order to knock out biofuels with excessive deforestation risk."

Palm oil is no longer only inflicting deforestation and habitat loss for orangutans - it's taking a toll on the climate as well. According to recent estimates, cutting-edge demands should lead to 7 billion tonnes of CO2 emissions produced over the next two decades.

Norway's Rainforest Foundation commissioned a 2017 record on palm oil-based biofuels and found them to be greater negative to the climate than fossil fuels, "perhaps several instances worse."
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Today’s KLSE stock market tips & Bursa Malaysia Stocks Report

                           Today’s KLSE Stock Signal

Malaysia Stock Market News

• The FBM KLCI index lost 6.31 points or 0.38% on Tuesday. The Finance Index fell 0.58% to 17020.06 points, the Properties Index dropped 1.52% to 868.19 points and the Plantation Index down 1.09% to 6487.91 points. The market traded within a range of 16.95 points between an intra-day high of 1643.88 and a low of 1626.93 during the session.
• Actively traded stocks include VS, ARMADA, MYEG, HIBISCS, PWORTH, HSI-H4O, KNM, HUBLINE, HSI-C3X and VIVOCOM. Trading volume increased to 2265.09 mil shares worth RM1907.07 mil as compared to Monday’s 1469.14 mil shares worth RM1178.65 mil.
• Leading Movers were DIGI (+19 sen to RM4.38), MAHB (+20 sen to RM8.00), IOICORP (+8 sen to RM4.26), MISC (+11 sen to RM6.20) and PMETAL (+8 sen to RM4.83). Lagging Movers were SIMEPLT (-21 sen to RM4.09), DIALOG (-10 sen to RM2.95), IHH (-16 sen to RM5.19), TENAGA (-22 sen to RM12.70) and CIMB (-8 sen to RM5.63). Market breadth was negative with 222 gainers as compared to 699 losers.
• The KLCI closed lower at 1635.31 points amid overnight retreat in US market. Market sentiment was muted amid absence of fresh market leads.

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Comex Market In Malaysia | Gold Trading Forecast Today

GOLD TRADING FORECAST TODAY

INTERNATIONAL COMEX NEWS

• Gold traders will continue to monitor political risks and watch developments in equity markets in the week ahead, after the failure by the U.S. Congress and President Donald Trump to agree to a spending bill by midnight Saturday resulted in a partial U.S. government shutdown. Gold is often sought in times of geopolitical tension or market turbulence. Elsewhere, on the data front, the U.S. will see a relatively quiet week in terms of economic releases, with reports on consumer confidence and the housing sector expected to draw the most attention.
• OPEC and allied oil producers are ready to hold an extraordinary meeting and will do what is needed if the current cut in oil output by 1.2 million barrels per day does not balance the market next year, the United Arab Emirates' energy minister said on Sunday.
• Oil prices dipped on Monday ahead of the Christmas holiday break, adding to last week's steep losses on concerns about a global oversupply. International benchmark Brent crude (LCOc1) futures fell 27 cents, or 0.5 percent, to $53.55 a barrel at 0106 GMT. Brent touched $52.79 on Friday, its lowest since September 2017. U.S. West Texas Intermediate (WTI) crude futures (CLc1) eased 8 cents, or 0.1 percent, to $45.51 a barrel.

ECONOMY NEWS

• U.S. President Donald Trump's Treasury secretary called top U.S. bankers on Sunday amid an ongoing rout on Wall Street and made plans to convene a group of officials known as the "Plunge Protection Team." U.S. stocks have fallen sharply in recent weeks on concerns over slowing economic growth, with the S&P 500 index (SPX) on pace for its biggest percentage decline in December since the Great Depression.
•  China and the United States held a vice ministerial-level call on Friday, the second such contact in a week, achieving a "deep exchange of views" on trade imbalances and the protection of intellectual property, the Chinese Ministry of Commerce said. A statement posted on the ministry's website on Sunday said the two countries "made new progress" on those issues, without specifying further.
• China is considering introducing a new law on foreign investment to replace three existing laws on joint ventures and wholly owned foreign firms, state news agency Xinhua reported on Sunday. A draft law on foreign investment has been submitted to the National People's Congress (NPC) Standing Committee, according to Xinhua. The draft, which could take more than a year to be signed into law, includes policies on promoting and managing foreign investment.

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Tracking US Soyoil palm reaches 7 week high

As earlier than we mentioned about the that Malaysian palm oil futures fell 1.6% to a greater than three-year low on Friday 9 December, monitoring weak spot in soyoil and on issues of a slowdown in exports. Two. Now Malaysian palm oil futures rose about 1.5% to a greater than seven-week excessive on Wednesday, monitoring good points in US soyoil on the Chicago Board of Trade.

The benchmark palm oil contract for March transport on the Bursa Malaysia Derivatives Exchange was up 1.1% at RM2,179 (US$521.54) a tonne at the noon break. Earlier, it climbed to RM2,185, its strongest stage on account that Oct 29.

Trading volumes stood at 25,320 loads of 25 tonnes every at the noon break.
"The market reacted towards strong soybean oil, which rose overnight," said a futures dealer in Kuala Lumpur Stock Exchange

Gains in palm olein on China's Dalian Commodity Exchange additionally lent help to the Malaysian Stock market, said another futures trader.

The Chicago January soybean oil contract received 0.9% on Tuesday after Chinese importers booked US soybean shipments in the 2d wave of purchases when you consider that hanging a alternate hostilities truce with Washington in the past this month. It was once last up 0.3% on Wednesday. 

Two In other related oils, the January soybean oil contract on the Dalian Commodity Exchange won 0.7%, whilst the Dalian January palm oil contract rose 1.6%.

Palm oil expenditures are impacted by way of adjustments in soyoil prices, as they compete for a share in the world vegetable oil market.

Palm oil may also gain extra to RM2,180 per tonne, as it has cleared a resistance at RM2,150, stated Wang Tao, a Reuters market analyst for commodities and electricity technicals.

Palm oil expenditures in Malaysian ringgit per tonne
CBOT soy oil in US cents per pound
Dalian soy oil and RBD palm olein in Chinese yuan per tonne
India soy oil in Indian rupee per 10 kg
Crude in US dollars per barrel
(US$1 = RM4.1780)
(US$1 = 70.0600 Indian rupees)
(US$1 = 6.8892 Chinese yuan)

The benchmark palm oil contract for January delivery on the Bursa Malaysia Derivatives Exchange used to be down 1.2% at 2,061 ringgit (US$493.42) a tonne at the midday break, heading for a fourth straight session of declines.

Earlier in the session, it hit its lowest considering the fact that September 2015 at 2,051 ringgit. Palm has declined 4.3% so a ways this week, in what should be its largest weekly decline considering that the week ended July 13.

Trading volumes totalled 25,538 a lot of 25 tonnes each at Friday noon.
Palm oil is anticipated to fall in addition as weakness in competing vegetable oils continues, said a Kuala Lumpur-based trader.

U.S. soybean futures slid for a fifth consecutive session and were poised to finish the week in terrible territory as the market is going through renewed pressure, after the U.S. government raised its outlook for stocks.

The market was once additionally compelled by using expectation of decrease exports in the first 10 days of this month, stated some other trader.

In other related fit for human consumption oils, the Chicago December soybean oil contract fell 0.4%, while the January soybean oil contract on the Dalian Commodity Exchange declined 1.3%.

Meanwhile, the January palm oil contract dropped 1.9%.

Palm oil expenditures are affected with the aid of actions of different edible oils, as they compete for a share in the global vegetable oil market.

Palm oil is anticipated to retest a aid at 2,075 ringgit per tonne, a spoil under which may want to cause a loss into 2,060-2,075 ringgit, said Wang Tao, Reuters market analyst for commodities and strength technicals.

TODAY’S KLSE STOCK TRADING TECHNICAL REPORT

                          Today’s KLSE Stock Signal

Malaysia Stock Market News

• The FBM KLCI index lost 6.31 points or 0.38% on Tuesday. The Finance Index fell 0.58% to 17020.06 points, the Properties Index dropped 1.52% to 868.19 points and the Plantation Index down 1.09% to 6487.91 points. The market traded within a range of 16.95 points between an intra-day high of 1643.88 and a low of 1626.93 during the session.
• Actively traded stocks include VS, ARMADA, MYEG, HIBISCS, PWORTH, HSI-H4O, KNM, HUBLINE, HSI-C3X and VIVOCOM. Trading volume increased to 2265.09 mil shares worth RM1907.07 mil as compared to Monday’s 1469.14 mil shares worth RM1178.65 mil.
• Leading Movers were DIGI (+19 sen to RM4.38), MAHB (+20 sen to RM8.00), IOICORP (+8 sen to RM4.26), MISC (+11 sen to RM6.20) and PMETAL (+8 sen to RM4.83). Lagging Movers were SIMEPLT (-21 sen to RM4.09), DIALOG (-10 sen to RM2.95), IHH (-16 sen to RM5.19), TENAGA (-22 sen to RM12.70) and CIMB (-8 sen to RM5.63). Market breadth was negative with 222 gainers as compared to 699 losers.
• The KLCI closed lower at 1635.31 points amid overnight retreat in US market. Market sentiment was muted amid absence of fresh market leads.

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UOB Malaysia sees sturdy fundamentals, higher transparency aiding ringgit

Malaysia's sturdy fundamentals and go toward higher governance and transparency are possibly to supply underlying guide for the ringgit and will help to moderate the currency's volatility.

United Overseas Bank (Malaysia) Bhd expects the ringgit to move in tandem with other Asian currencies amid the unstable external environment and escalating US-China exchange conflict. The government's efforts to construct a more obvious government, the economy's underlying strengths, consistent financial growth, low unemployment and a surplus modern account, will assist aid the ringgit, she stated in a statement.

Goh said UOB Malaysia stays high quality on Malaysia's financial outlook for 2019, notwithstanding expectations for greater exterior risks bobbing up from international trade disputes and heightened market volatility. two

This was despite of intensifying trade disputes and policy uncertainty, which can also end result in slower global growth in 2019.

She acknowledged the ongoing US-China change tensions and the quantum of US Federal Reserve activity fee rises will proceed to have an have an effect on on international growth stock market volatility.

"There are no signs of US-China alternate tensions easing. Further protectionist alternate insurance policies will most likely be terrible for world trade, main to larger risks for export-driven Asian economies, which includes Bursa Malaysia, amid weaker growth potentialities and heightened volatility in monetary markets.

"Given these developments, we anticipate the influence of broadening change measures ensuing from the exchange tensions will be felt greater materially in 2019."

Although Malaysia is no longer immune to the international headwinds, she stated the economy would find aid from strong domestic personal consumption and investments.

Goh additionally pointed out the 2019 Malaysia Budget unveil don Nov 2, additionally delivered some high-quality fiscal measures to make stronger purchaser spending, to promote inclusiveness and to raise growth.

She noted personal consumption was once anticipated to be supported by means of higher minimum wages, centered cash useful resource and petrol subsidies. The repayment of tax refunds is additionally in all likelihood to improve cash flows for the personal sector and to motivate domestic spending.

The authorities was once also emphasizing on advancing high value-added sectors such as technology-intensive industries, accelerating the digital transformation of the manufacturing zone through its Industry four initiative, and on centered infrastructure spending.

"These are right steps to make sure that Malaysia stays aggressive in the region and across the world. We challenge actual Gross Domestic Product to amplify 4.8 per cent in 2018 and 2019," she said.

Over the long term, Malaysia's financial system stands to gain from the government's ongoing efforts to enhance transparency and accountability, which will strengthen investor self belief over time.

She expected the u . s . to likely to benefit from regional and multilateral change initiatives that will boost improvement of, trade with and investment in the country and throughout Asean.

These techniques will help decorate the country's resilience towards threat from rising global change protectionism.

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