Preheat oven to 180 C. Stud oranges with cloves, and bake for 30 minutes.
In a large saucepan, combine the apple juice and cinnamon stick. Bring to the boil, reduce heat to medium and simmer for 5 minutes. Remove from heat and stir in the nutmeg, honey, lemon juice and pineapple juice.
Serve warm in a punch bowl with the baked clove-studded oranges floating on top.