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Wild price swings and a bloated turnover of rubber futures trading in Shanghai have sounded yet another warning to the mainland's securities regulator about massive speculative funds sparking runaway investments in China's fast-growing financial markets. On Thursday, 2.1 million lots, or 21 million tonnes of rubber for September delivery changed hands on the 6- an all-time high. The turnover of nearly 500 billion yuan (HK$57 billion) highlighted how rubber contracts have become the most actively traded  

The Dow closed at 17-month highs Wednesday following the decisions by the US and Japanese central banks to keep interest rates unchanged and the US senate passing a US$17.6 billion jobs bill. Optimism of an economic recovery saw commodity stocks rally. The Dow and S&P 500 have risen 13 of the last 14 sessions, while the Nasdaq has closed higher in 12 of the last 14 sessions.  

Comex gold futures fell toward $1,100 an ounce on Friday, pressured by a strong dollar, losing nearly 2 per cent after an interest rate hike in top gold consumer India, and profit-taking ahead of the weekend. News that India's central bank had raised key policy rates by 25 basis points probably hit prices. International gold markets have never been concerned so seriously of interest rate hikes in India in the past.  

Fara's share price went down 14% since the delivery of weak Q4 results last month. However, the figures were not surprising to us, as they were in line with the profit warning issued in December (due to the delays in some projects). At that time the company guided EBITDA of around NOK -23m, while the actual figure came out at NOK -22,8m.  

Domestic stock markets are likely to open weak on Monday following the Reserve Bank of India's (RBI's) decision to increase repo and reverse repo rates. Markets experts said interest rate-sensitive sectors like auto, banks and real estate would be keenly watched. But, they added, the fall would be a short-term phenomenon and fresh buying would emerge at lower levels.  

This past week began with the Russell 2000, small cap stocks, at 666, a 52-week high. A beastly coincidence that small cap stocks began the week at 666 while a year ago large cap stocks had a low 666? If 666 was a buy signal for the S&P a year ago, is the same eerie number now a sell signal?

Greek Prime Minister George Papandreou is pushing U.S. officials to investigate speculation in euro currency markets he says is driving up Greek borrowing costs. Ten-year bond offerings by Greece last week had a yield of 6.3 percent, about twice as much as the German government pays to borrow funds   -Bob Davis

 

Market action to New York close on Friday. Adds Sydney shares outlook. NEW YORK - The Dow industrials snapped an eight-session winning streak on Friday, as renewed worries about Greece sparked a climb in the dollar and weighed on U.S. stocks.  

Mohammed Isah is a technical strategist and head of research at FXTechstrategy.com, a technical-research Web site. He has been trading and analyzing the foreign exchange market for the past seven years. He formerly traded stocks before crossing over to the forex market, where he worked for FXInstructor LLC as a technical analyst and head of research before joining FXTechstrategy.com. He has written extensively on the forex market and technical analysis and his articles have been featured in The Technical