The International News (04/10/2017) - KUALA LUMPUR: Malaysian palm oil futures were on Tuesday set for their first daily gain in a week, supported by a weaker ringgit.

The benchmark palm oil contract for December delivery on the Bursa Malaysia Derivatives Exchange was up 0.4 percent at 2,677 ringgit ($631.59) a tonne at the midday break, on course for the first gain after four losing sessions.

It earlier fell to its lowest in 1-1/2 months at 2,653 ringgit. Traded volumes stood at 13,829 lots of 25 tonnes each at the midday break. "The market is oversold and the ringgit slumped to a four-week low, so we are seeing some technical buying," said a futures trader in Kuala Lumpur, declining to be identified as she was not authorised to speak with media.